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This summer Roc-a-Fella Records co-founder Damon Dash received a warning from his bank after having not made a payment on his $78,504.20-a-month mortgage since January. Now the Daily News is reporting that the bank wants his two Tribeca condos, which under the same mortgage and located at 25 N. Moore Street and 79 Laight Street. On top of losing the homes, the city is seizing his SUV and "his lawyer dropped him for not paying his legal bills." Yikes, what happened to the $20 million he got for selling his half of Roc-a-Fella to Jay-Z? He also has an outstanding $2.1 million bill from the New York State Department of Taxation and Finance. A lawyer who settled another suit against him and his wife for unpaid fees told the paper, "to borrow a phrase from my Kentucky homeland, they haven't got a pot to piss in - they're broke."
Damon Dash Pretty Much F*cked (Financially)
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He probably though the money will always be coming in left and right so why should I try to save money or make "smart decisions".
good
A fool and his money are often parted.
Great news!
Jay Z says, "He's got 99 problems and being rich ain't one."
What? you mean all those videos about rappers and bling are fake and was all on borrowed studio money that they eventually had to pay back with interest? get out! No wonder Jay-Z's successor committed suicied. the real gangsta's have always been old white dudes.
wait wait wait. So rap stars don't know how to manage their money? So throwing cash out of hummer limos and dumping out over priced champagne is a bad financial move?
The full expression is more appropriate... "He doesn't have a pot to piss in or a window to throw it out of."
That's so odd, because I usually equate hip-hop with financial responsibility.
roca-pads sales are poor?
http://www.metacafe.com/watch/181834/roca_pads/
So what? Who among us hasn't pissed through $20 million before?
So rap stars don't know how to manage their money?
Maybe they got bitch slapped by the drop in the Euro?
I thought Jay-Z had his back...granted after fckin' him over.
http://nymag.com/news/profiles/17268/index4.html
And from "Diamonds From Sierra Leone":
[Jay-Z]
Yep!
I got it from her 'ye damn!
The chain remians, the gang is in tact
The name is mine, I'll take blame for that
The pressure's on, but guess who ain't gon' crack? [laughs]
Pardon me I had to laugh at that
How could you falter when you're the rock of gibralter
I had to get of the boat so I could walk on water
This ain't no tour order, this is nothin to me
Difficult takes a day, impossible takes a week
I do this in my sleep,
I sold Kilos of coke, (so?) I'm guessin' I can sell CD's
I'm not a buisness man I'm a buisness, man
Let me handle my buisness, damn!
Kanyeez you got me, Freeway and Foxy
YG', Teairra Mari, Petey watch me
Bleek could be one hit away his whole career
As long as I'm alive, he's a millionaire
And even if I die, he's in my will somewhere
So he can just kick back and chill somewhere, oh yeah
He don't even have to write rhymes
The Dynasty like my money last three lifetimes
That last bit from the Jay-Z song is about Memphis Bleek dude. Can't you read?
Dame Dash is an idiot that has ridden the coat tails of jay-z for years.
smh @ johnie.
You mean taking out a $7.5 million dollar mortgage isn't a smart thing to do when you're only worth $20 million? Gee, I never saw that one coming.....
He should have used Wu Tang Financial because you and your fam can't be relying on wankstas like Smith Barney."
You need to diversify yo' bonds, nigga!
"I said sell short, not sell snort!"