Dame Dash Is Drowning In Debt, May Lose His Home

“ If I can make Victoria Beckham cool then hip-hop can make anyone cool.” —Dame Dash, King Magazine (2004)

Former hip-hop mogul Dame Dash’s finances are in shambles and the Roc-A-Fella co-founder may be close to losing his home in Carmel, New York. Dash filed a five-page report with courts on Tuesday spelling out his troubled finances. According to the documents obtained by, New York Daily News, Dash’s pockets have diminished substantially. “I am currently several months behind in paying my personal bills,” he wrote. “For instance, I am currently over $100,000 behind in rent for the only home in which I live and at risk of being evicted.”

The loud talking entrepreneur’s financial woes have been mounting over the years, according to the documents. A divorce from his former wife Rachel Roy in 2004 cost the him $20 million. In 2010, he lost two Tribeca lofts to foreclosure and a number of lawsuits have also contributed to Dash’s monetary misfortunes.

According to the documents, Dame may be the next in a long line of celebrities to be in trouble with the IRS. He owes more than $2 million in state and federal income taxes in the state of New York. He is also on the hook for taxes owed in New Jersey and may face possible prosecution. Hard times for the man who once CEO’d one of the hottest labels in the rap industry.

  • http://www.facebook.com/javern.taylor JaVern TshirtKing Taylor

    A divorce from his former wife Rachel Roy in 2004 “cost the him” $20 million. XXL did anyone proof read this?

    • http://www.facebook.com/profile.php?id=100003644733905 Drew Emmerson

      And it’s bullshit – fact: “Roy’s divorce suit, filed in March 2009 is seeking “non monetary relief” from Dash.” He was already beyond broke at that time. HE stole from her – she pumped millions into his businesses and lost it all – too funny how XXL writes lies as news.

      • Alan Page

        No wonder “C. Vernon Coleman” doesn’t want to include his full first name on the byline, with research like this. A simple Google search turned up the correct year Roy filed for divorce (2009) in five seconds. SMH. XXL, hire better editors.

        • http://www.facebook.com/javern.taylor JaVern TshirtKing Taylor

          ok

      • http://www.facebook.com/javern.taylor JaVern TshirtKing Taylor

        Oh wow.

  • GreenGoblin27

    better sell those earrings dash. invest your money instead of blowing it.

  • http://twitter.com/weareshameless SHAMELESS($$)CORP

    come on XXL… your audience is NOT stupid.