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Tuesday, September 24, 2013

How Damon Dash Launched Jay-Z And Roc-A-Fella Records Then Blew Through A $50 Million Fortune

In the late 90s and early 2000s, hip hop entrepreneur Damon Dash was on top of the world. At the time, Dash was the CEO of the hottest rap label in music, Roc-A-Fella Records, with powerhouse roster artists like Jay-Z, Kanye West, Memphis Bleek, Beanie Sigel, DJ Clue and Juelz Santana. Dash was also the CEO of the wildly successful Rocawear clothing line which was reportedly generating annual revenues of $350 – $450 million. As if this wasn't enough, Dash was testing the waters in Hollywood by executive producing the critically acclaimed 2004 Kevin Bacon film "The Woodsman". Perhaps most importantly, without Dash, the world would likely never have heard the name Jay-Z at all. With the above resume, you'd have to assume that today Damon Dash must be worth hundreds of millions of dollars and is presiding over a dynasty that rivals Russell Simmons, Diddy or Dr. Dre, right? Unfortunately that is not the case. Today Damon Dash is not only broke, but he owes millions of dollars to the IRS and has had several properties seized through foreclosure. How did this happen? The story of how Damon Dash launched Jay-Z's career and Roc-A-Fella Records then blew through a $50 million fortune is a sad and shocking cautionary tale.

Read his story online here:  How Damon Dash Launched Jay-Z And Roc-A-Fella Records Then Blew Through A $50 Million Fortune | Celebrity Net Worth


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