Dame Dash Files for Chapter 7 Bankruptcy, Declares $25 Million in Debt

Lead Dame Dash, co-founder of Roc-A-Fella Records, filed for Chapter 7 bankruptcy in Florida on Thursday, listing over $25 million in liabilities against assets of just $4,350.

Nut Graf The filing underscores the music executive’s mounting legal and financial challenges, including unpaid taxes, child-support obligations and court judgments, revealing the stark contrast between his storied past and present fiscal reality.

Financial Collapse of a Hip-Hop Mogul

Dash’s petition details:

  • $25.3 million in total liabilities, covering tax debts, legal judgments and domestic support obligations.
  • Assets valued at $4,350-comprising clothing, jewelry, firearms and a cell phone-against monthly expenses of around $5,200.
  • Debts include $19.1 million owed to federal and state tax authorities and over $650,000 in support payments to former partners Rachel Roy and Cindy Morales.
  • A $4 million judgment owed to filmmaker Josh Webber from a defamation suit related to the unproduced film Dear Frank.

Dame Dash’s financial woes trace back to multiple court cases:

  • Loss of his stake in Roc-A-Fella at auction to satisfy tax liens.
  • Defamation and copyright judgments compounding his debt load.
  • Risk of asset seizures if undisclosed holdings are uncovered.

Health Struggles Amid Bankruptcy

In his bankruptcy documents and recent interviews, Dash revealed significant health issues, including complications from diabetes and dental surgeries, which have added to his burdens.

What’s Next?

Dash indicated on social media that he plans to “get to work” on new projects despite the filing, suggesting possible attempts to leverage future earnings to address his debts and rebuild his brand.