Dame Dash has revealed that his money woes are at an all-time low. The former Roc-A-Fella Records executive filed for Chapter 7 bankruptcy in Florida, and court documents show a grim financial picture.
“I’m in a place where I just can’t keep up,” Dash reportedly said, describing the situation as “a financial avalanche I couldn’t stop.”
The 54-year-old claims to have only $4,350 in personal property. That includes $100 in cash, a $500 phone, $2,500 worth of jewelry, clothing, and two firearms. He reportedly has no income, yet monthly bills total $5,200.
Dash’s debt load is staggering. He owes nearly $9 million to New York’s tax department and the IRS, $5.79 million to Los Angeles County, and $3.5 million to New Jersey’s tax agency. That’s just the tip of the iceberg, with total liabilities topping $25 million.
Earlier this year, Dash was ordered to surrender several intellectual properties and businesses to filmmaker Josh Webber, who won a $800,000 court judgment after suing him for defamation and copyright infringement.
“People think being a mogul means endless money, but it doesn’t always go that way,” Dash reportedly added.
It’s a sharp fall for someone who once helped shape hip-hop’s golden era. Dash has not yet commented on the filing publicly.
