Damon Dash Says He’s “Proud Broke” and Has Been “Losing Money for Years”

Damon Dash is opening up about his financial struggles, and he’s not ashamed to admit that he’s broke.

In a recent interview, Dash said that he’s been struggling to pay child support in recent years because he’s been “losing money for years.”

“While I’m investing in something else, I might not be making the money and the profit, so I can’t afford to pay out what I was when I was having EBITA [earnings before interest, taxes, and amortization] of $8 million a year,” he said.

Dash also said that the amount of child support he was ordered to pay was calculated based on his earnings at the time, which included one of his ex-wife Rachel Roy’s fashion lines. That line is controlled by Roy, he said, though his ownership stake in the line was a big deciding factor in what he had to pay.

“I had to flip,” he added, suggesting his ex-wife was getting the money he was making and should thus pay for their children’s expenses. “You can’t be mad at me and make me feel bad if the money that I had to give the kids, you got, and you still expecting me to pay that while I’m investing and losing money for years.”

In 2019, Dash was arrested for failing to pay child support. He filed legal documents around the time that indicated he was broke and unable to pay the $2,400 he was required to pay as part of a lawsuit. He argued that he shouldn’t have to pay $6,000 a month in child support because she makes much more money than he does now. He claimed he only made $56K in 2018, while Roy took in roughly $500K. In December 2019, he was said to owe as much as $950,000 in back child support.

Dash’s financial struggles are a stark contrast to his early days in the music industry. As a co-founder of Roc-A-Fella Records, Dash helped to launch the careers of Jay-Z, Kanye West, and Rihanna. He also made millions of dollars from his own business ventures, including clothing lines and film production.

However, Dash’s financial fortunes have declined in recent years. He has been involved in a number of lawsuits, and he has also struggled to maintain successful businesses.

Despite his financial struggles, Dash remains optimistic about the future. He says that he is working on new business ventures, and he is confident that he will be able to get back on his feet.

In the meantime, Dash is asking his fans to be patient with him. He says that he is committed to paying his child support, but it will take time.