Things are not going well for Damon Dash, financially speaking. TMZ reported that Dash recently filed documents pertaining to an ongoing lawsuit in which he claims he's so broke that he can't pay off a $2,400 debt. And that was before he was reportedly arrested over his failure to pay child support. This presents a stark reality for someone who once was a prominent figure in the music and fashion industry, raising questions about how someone can fall from grace so dramatically.
Dash is in deep with various creditors who have been garnishing the money from his income, including a significant sum of $2 million plus interest that he's owed by producer Lee Daniels. This stems from a past investment Dash made in an ultimately unprofitable movie project. Despite confronting Daniels about the debt, Dash claims he needs more assistance to manage his mounting financial burdens. He stated, "My income streams have all been garnished … and it is very difficult to address the mounting bills until I receive some relief from the courts."
Among Dash's many financial challenges are multiple child support obligations. Earlier this year, he approached a judge to seek a reduction in these payments. Reports indicate that he owed around $400,000 to Rachel Roy and Cindy Morales. Recently, he was arrested due to his inability to pay a figure that had reportedly grown significantly over the months. This incident occurred while he was at a Manhattan courthouse attempting to settle a warrant connected to his child support payments, leading him to pay over a million dollars to resolve the situation and avoid jail time.
| Personal Details | Information |
|---|---|
| Name | Damon Dash |
| Profession | Entrepreneur, Music Producer |
| Notable Works | Co-founder of Roc-A-Fella Records |
| Reported Income (2018) | $56,000/year |
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