Following New York State’s acquisition of a one-third stake in Roc-A-Fella Records for $1 million at a federal auction, Dame Dash, co-founder of the iconic label, has spoken out about the circumstances surrounding the sale. The auction, intended to settle Dash’s $8.7 million debt in back taxes and other financial obligations, left him disappointed by the lack of interest from high-profile buyers.
“For the last 10-15 years, I wasn’t receiving any royalties from that third of Reasonable Doubt… because I found some money that they didn’t tell me about, and I took it because I knew that I would never get paid,” Dash explained. He claimed there was “no intention” of him ever receiving compensation for his share.
The auction saw New York State place the winning bid, beating out offers of $250,000 and $223,000. Dash was surprised by the perceived low value shown for the Roc-A-Fella stake, despite its cultural significance. “I thought more people would be interested in buying it because of the art value… I thought some collector would show up, like how Wu-Tang is valued,” he said, referencing the $25 million purchase of an exclusive Wu-Tang Clan album.
Dash called out Jay-Z for not bidding, despite previously intervening to protect ownership rights to Reasonable Doubt. “Jay didn’t even make a bid. He didn’t think it was worth $3 million,” he remarked.
Dash also mentioned rapper Drake, who briefly showed interest in purchasing the stake before backing out. “Drake did put a bid in for $6 million, but then he disappeared,” Dash revealed. “I don’t know what happened, but other than that, no one was serious… no one wanted that shit, period.”
Frustrated by the situation, Dash expressed his desire to move past the ongoing legal and financial disputes. “I just want to get rid of it any way I can… They stopped me from selling this,” he said.
