September 6, 2025
Dash, cofounder of Roc-A-Fella Records, says he has just $4,000 in assets.
Roc-A-Fella Records co-founder Damon Dash has declared bankruptcy, revealing he has little more than $4,000 in assets while facing over $25 million in debts.
Dash, who launched the influential label with Jay-Z and Kareem “Biggs” Burke in 1994, submitted a Chapter 7 bankruptcy petition in Florida on Sept. 4. The filing comes nearly one year after his one-third ownership stake in Roc-A-Fella was auctioned off by the state of New York in an attempt to cover his mounting obligations.
Court documents show Dash has only $100 in cash, with personal property valued at $4,250. That includes $2,500 in jewelry, along with a cellphone, clothing, and two firearms. Meanwhile, his liabilities amount to a staggering $25.3 million. Of that total, nearly $19 million stems from unpaid taxes owed to New York, New Jersey, and California.
The former record executive also lists more than $600,000 in overdue child support payments to his ex-partners Rachel Roy and Cindy Morales. In addition, Dash owes almost $5 million to film producer Josh Webber. The two have been locked in legal disputes since 2019 over a failed collaboration on the movie Dear Frank. Webber secured an $823,000 judgment against Dash in 2022, followed by another $4 million defamation lawsuit that resulted in a default judgment this past March.
Last summer, the state of New York placed the winning $1 million bid to acquire Dash’s Roc-A-Fella shares, aiming to reduce his outstanding balance.
Roc-A-Fella, which dissolved in 2013, continues to earn royalties from Jay-Z’s debut album Reasonable Doubt. That revenue is expected to flow into the company until 2031, when copyright termination rights will revert full control back to Jay-Z.
Speaking on behalf of Dash, attorney Brian Zinn framed the bankruptcy filing as a tactical move. “Chapter 7 bankruptcy is a strategic decision that allows individuals to reorganize their finances and get a fresh start,” Zinn told Billboard.
He added: “Bankruptcy is a legal tool that many successful people have used to restructure their obligations.”
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