Damon Dash, the once high-flying hip-hop mogul who co-founded Roc-A-Fella Records with Jay-Z and Kareem Burke, has filed for personal bankruptcy in Florida, citing $25 million in debts and almost no assets.
In his 56-page petition obtained by Rolling Stone, Dash says he has no monthly income, no house, no car, no publicly traded stocks, no retirement account, and only about $4,350 in worldly possessions. He lists his assets as two guns, furs, jewelry worth $2,500, designer wear, TVs, computers, and some electronics. He only has $100 cash in hand, he claims.
The 54-year-old former Rocawear boss, known for his work promoting Cam’Ron and Kanye West early in their careers, says his towering debt includes $19 million in back taxes owed in California, New York, and New Jersey, as well as the $4 million default judgment he owes filmmaker Josh Webber for allegedly defaming Webber on a podcast. Dash also owes nearly $650,000 in domestic support obligations, including $160,000 owed to his ex-wife Rachel Roy, the fashion designer mother of his two daughters, and another $207,600 owed to Cindy Morales, the mother of one of his sons, according to the filing.
Dash filed his voluntary petition Thursday and posted about it Friday on Instagram. “Now let’s get to work #staytuned,” he wrote in the caption announcing the news to his 1.3 million followers. Dash also reposted a video showing him playing with his four-year-old son Dusko, whom he shares with his fiancée Raquel Horn, an author and wellness advocate.
Horn regularly posts photos showing the suburban Tampa home she shares with Dash and their son in Winter Haven, Florida. The lakefront home was purchased for $1.2 million in 2022 and lists Horn as the primary owner, according to public records.