Damon Dash, the influential co-founder of Roc-A-Fella Records, is once again in the spotlight, but this time for troubling financial reasons. On Thursday, September 4, 2025, Dash, 54, filed for Chapter 7 bankruptcy in Florida, revealing a stark financial reality: he has just $4,350 in assets while grappling with over $25 million in debts. This revelation comes from various credible sources, including the New York Post, People, and Billboard.
According to Dash’s bankruptcy filing, his reported assets are shockingly minimal: just a $500 cell phone, two guns, a collection of clothing and jewelry, and $100 in cash. Notably, he lists no monthly income and lacks any significant property, car, or electronics apart from the basic cell phone. This document paints a sobering picture of a man who once thrived in the bustling world of hip-hop and fashion.
The extent of his financial troubles is alarming, with a total debt of more than $25.3 million. Roughly $19.1 million of this amount is attributed to unpaid taxes, while over $647,000 is owed in domestic support obligations to his ex-wife, Rachel Roy, the mother of his two daughters, Ava (25) and Tallulah (17), as well as to Cindy Morales and Linda Williams, the mothers of his two sons, Lucky (21) and Boogie (33). Beyond family obligations, Dash also faces legal disputes that involve filmmaker Josh Webber and author Edwyna Brooks, further complicating his financial landscape.
This isn’t the first time Dash has faced such substantial financial difficulties. In November 2024, his one-third stake in Roc-A-Fella Records was auctioned off for $1 million due to unpaid taxes. This sale marked a significant downturn for a man who once held a prominent position in the music industry, showcasing how quickly fortunes can rise and fall in the high-stakes world of entertainment.
Bankruptcy is often misrepresented, but it serves as a legal pathway for individuals overwhelmed by debts to seek relief. A Chapter 7 filing, like Dash’s, allows for the liquidation of non-exempt assets to pay off creditors, essentially providing a fresh start. This process, though perceived negatively, aims to help regain some level of financial stability.
Damon Dash’s rise to fame began in Harlem during the 1990s when he co-founded Roc-A-Fella Records alongside Shawn “Jay-Z” Carter and Kareem “Biggs” Burke. He was instrumental in the rise of hip-hop culture during this era, and his creative ventures extended to launching the Rocawear clothing line. At his peak, Dash’s combined efforts in entertainment and fashion had made him a multimillionaire, known for both his entrepreneurial spirit and his lavish lifestyle. However, following a highly publicized split with Jay-Z in the mid-2000s, coupled with a series of unsuccessful business endeavors, his financial struggles intensified.
Following the news of his recent bankruptcy filing, Dash took to Instagram to share a screenshot of a headline about his situation, captioning it, “Now let’s get to work. #staytuned.” This reflection suggests a determination to regain financial footing despite his circumstances. It raises questions about his next steps and whether he can turn this challenging situation into an opportunity for resurgence.