Dame Dash Blames Money Problems on Being Generous

Posted on March 26th, 2009 - By Bossip Staff

Categories: Damon Dash, Divorces, Jay-Z, News, When The Checks Stop Coming In

Posted by Bossip Staff

dame-dash22

Everyone knows that Dame Dash is in the hole, going through a divorce, and maybe a midlife crisis. He says the reason that he has financial problems is because of his generosity:

JAY-Z’s former business partner DAMON DASH has blamed his generous nature for his financial downfall, insisting he was so focused on helping others succeed, he lost control of his own career. The rap mogul has been making headlines with his money struggles in recent months; he is facing foreclosure on his two properties in the trendy TriBeCa area of New York and reportedly owes $2 million (£1.4 million) in state taxes, among other debts.
To make matters worse, his designer wife of four years, Rachel Roy, filed for divorce earlier this month (Mar09) – after Dash helped her launch her own women’s fashion line. And Dash claims he has spent too much time helping others – including Roy and rapper pal Jim Jones – and not enough time on his own endeavors. He tells Billboard.com, “My mistake was watching everyone else’s careers and not watching mine.” Dash insists he spent too long planning Jones’ career breakthrough – and that has cost him dear. He adds, “After being able to settle my wife’s company, I was able to start doing other things. My first approach was the music business and getting with Jim Jones… I spent the last six months doing research, trying to figure out how to use all my resources to blow this out (make his album a hit).”

In the music industry, being overly generous is never a smart business move. Hova is probably thanking God he got out the relationship with him when he did. Damn, Dame.

Source

  • http://n/a Smoovee Sayz

    1st

  • Ermy Erm is Disillusioned with Society (Sick of Jive Turkeys, Chumps, Suckas, Malarky, Buffoonery, and Shenanigans!)

    what does first mean? somebody tell me

  • Ermy Erm is Disillusioned with Society (Sick of Jive Turkeys, Chumps, Suckas, Malarky, Buffoonery, and Shenanigans!)

    whats the prize?

  • Sawyer

    NEGRO PLEASE!!! If this is the reason then your more of a d**k head than I originally thought!

  • No, he was just stupid.

  • GG

    Had he married a black woman she would have stuck by him through richer and poorer, but these brotha’s get loot and all of sudden sista’s is not good enough for them.

  • http://n/a Smoovee Sayz

    Mr. Dash should have been waaaaaaaaay more humble.
    He never came across that way

    @Ermy Erm

    Im sure Dame is asking himself or asked himself the same question…
    “what does it mean to be first” lol
    Seriously iunno why:)

  • http://www.tajwashington.com Taj

    I can believe that perhaps he was too generous with some people. Oftentimes, when one gets money, they start giving it out to others as if it’s nothing. I have come to realize that 90% of the people that you help out in life don’t necessarily appreciate it; but I choose to do good, anyway. I wish him the best…

  • the_one

    He better stop lying.

  • bebe

    damon dash is a liar jim jones career didn’t do that well and is wife fashion line is average the line is actually losing money. dame go and beg jay

  • FURIOUZ STYLEZ

    BEING GENEROUS?! THAT’S A NICE WAY FOR SAYIN’ BEING A TRICK!

    ..IT TRICKIN’ IF YA GOT IT, SO HE’S A LIE AND A HALF

  • Melo

    I blame his money problems on being showing off and being stupid i.e. telling the world on MTV cribs he never wears the same socks twice. WTF?!

  • http://n/a Smoovee Sayz

    @ Melo

    Exactly!!

  • FURIOUZ STYLEZ

    AINT* TRICKIN’ IF YA GOT IT…MY BAD

  • Kool Breeze

    @ CG
    Had he married a black woman she would have stuck by him through richer and poorer, but these brotha’s get loot and all of sudden sista’s is not good enough for them.
    ____________________________________________________
    Just the opposite…dumb dame would have cheated and left his black wife for a woman like rachel or white.
    As it turns out dame stuck with her and she left him.
    Bottom line…dame doesn’t have the complete set of skills or common sense to sustain greatness.

  • Nique

    @ kool breeze

    I thought his wife was white?

  • Roe ski Love – The checks in the mail

    A fool and his money are soon parted!

  • http://www.tajwashington.com Taj

    ________*flatlined*________@ Ms. Philly

  • Kool Breeze

    @ NIQUE
    She is mixed with Indian and white.

  • ShavonDenise

    His a$$ wasnt being too generous! You know how generous all these other moguls and rappers are? They still got paper because they had people telling them what and where to invest in. He lucked up when he linked up with a skinny kid from Marcy who turned out to be one of the greatest rappers of all time. Who has he made totally successful on his own since then? Like Jay said “Since you made me, make another me”. Dudes these days are hustling and dont have a passion for music. Quincy Jones made several people careers because he has a passion for it and would probably do it for free. He wasnt like Puffy and maintained his empire, he cashed out. Boo-hoo Jay left you BUT you sold the rights to your company to LA Reid who sold it to Jay. You sold the rights to Roca-Wear. You basically tried to keep the publishing fot Reasonable Doubt like you wrote a rhyme and eventually sold that to Jay too. Where’s all this money? You’re a hustler Dame! How couldnt you flip bout about $100 million dollars? You were all in magazines flaunting you wealth and dissing Jay when everyone that was on your old roster left YOU! Its YOU! YOU, are the one that tried to play Jay because he grew the pluck up. Wooow. I had to vent because I am so tired of these non-taking responsibility for their own mis-haps, never will grow up and be a moraly positive Black man!

  • bigg boyy beloww

    dang homie, in high school u was the maaan homie, what the F happen to u! lol. being nice can get ur stacks reduced tho, people are just users,sad so sad! head up damon

  • CHRISSY

    HE LOSS ALL HIS MONEY BECAUSE HE WASN’T A HUMBLE MAN HE WAS ARROGANT AND COCKY, THE BIBLE SAYS ONE MUST REMAIN HUMBLE AT ALL TIMES…..

  • Kool Breeze

    MY brother dame had a show recently where young cats were competing against each other to see if they had the focus and street smarts to be like dame. What an contradiction !!!. Never ever bring back repeats of that show what a sham.

  • iluvprada

    I bet now he wants to hide in a corner and just cry…poor baby! NOT!

    That’s crazy how you can make it to the top and fall the f* off…way off!!!

  • http://dicooper.spaces.live.com/ DICooper

    Delusional much?

  • My Opinion

    ShavonDenise is right! Dame the dumba$$ or should I say the brokea$$ is a joke. Being too generous? Nobody belives that mess. If I was Dame I would shut my mouth because he is making himself look really stupid. I remember when him and Jay-Z business partnership broke up…he made some statement saying Jay was trying to be him i.e. a mogul.

    Dame nobody feels sorry for you! Because even people who have never met you in person, could see how horrid you were and still are.

  • jb_1030 (Dreams she is Amber Rose so she can wear those shoes)

    He got $20 mil from Jay for Rocawear and he has none left. Hell he coul dhave lived off teh interest alone. It’s not like he is spending money on clothes. 4 t-shirts for 10 dollars at teh Beauty supply store

  • http://okidokie.net/index.php/2009/03/26/dame-dash-in-so-much-trouble/ Dame Dash – IN SO MUCH TROUBLE !!! | OKIDOKIE.NET

    [...] The rap mogul has been making headlines with his money struggles in recent months; he is facing foreclosure on his two properties in the trendy TriBeCa area of New York and reportedly owes $2 million (£1.4 [...]

  • PhillyGrownYoung&-4-the-kids

    when people live BEYOND their means, this happens. he was spending, and NOT making money, so after a while….it’s all gone. sad. hope he learns from his mistakes & move on. helping people sometimes can backfire,a nd when your broke, those same folks you helped will give you the ‘peace sign’ as they walk away.

  • IGOTTHIS

    This is the same MOFO on his reality show that had his ice cubes dipped in Crystal & said he didn’t carry $1 bills or loose change. He was toooo rich for that. But like Jay said. “You Lost One!”

  • hoopla

    Is he claiming the MC HAMMER excuse?!

    Helpin everyone but yourself!?

  • ballrmom

    what a jerk! if you are smart, which you claim you are,you will be able to make it again, put people around you that care about you, not what you have. the women only wanted you because you had money, you don’t get it, JIM JONES LMAO!!!!!!!!!

  • nas

    is it dame diddy, dame daddy or dame dummy…?

  • http://www.myspace.com/zitb Z.I.T.B. PRODUCTIONS

    Dude Dame Dash burned alot of bridges in his day and wanted to act like a rapper,, not a CEO. And Jim Jones sound like he’s on the verge of crying on every track, but that’s his flow. But I do respect Jim’s hustle. Dame claims to be a hustler but can’t generate funds without Jay-Z period. I think Jim got more hustle than Dame. They need to switch roles.

  • LawdhavMercythisshitis real

    STUPIddddddd

  • ms k

    LOOK LIKE OLE BOY WILL BE WASHING AND REWEARING THEM UNDIES FROM NOW ON.

  • Nique

    @KOOL BREEZE

    @ NIQUE
    She is mixed with Indian and white.
    _____________________________________________________

    Thats WHITE to me.lol

  • W-2/401k Killer…

    wHAT DID HE HAVE A CAREER IN?

  • http://www.joetheplugger.com joetheplugger

    let’s not mistaken here folks… when those Big Shots..say they’re broke is çause they only got 5 million dollars left in the bank…which should be more than enough if livin’a simple life!

  • HoneyBrown

    Dame didn’t you learn anything from Hammer’s mistakes?? But I agree with those who say this fool’s not broke.

  • always knew

    Dame lost all of his money on bad spending habits and poor business deals…

  • always knew

    BTW: Anytime that you spend more than you make, you are not making any money…You need to save at least 15- 30% of each check. Whether you are self-employed or working for someone else. If you deduct the money right away, you’ll never miss it…

    And yes, that counts on dividend payouts,as well… :)

  • PUSSYCATFUN

    YEAH…HE’S BEEN “GENEROUS” ALRIGHT….GENEROUS WITH HIS SELF.

  • http://bossip.com tasty t

    It’s ok to be generous but dont be a damn fool. I do believe that you were generous but i also know that u spent a lot of money on foolish things, what i dont know but dont blame it all on generosity. Hell dont u think about the future, so that’s on you, all that money and with the economy you should of been putting money up for a rainy day. Wow see someone like me cant get money like that, cause i will put it up and invest, even the little money that i do have i always put some up for a rainy day and i am only working with a couple of hundred and Mr. Dash was working with thousands i see u got to big for your underwear.

  • mizgreen

    See that’s what I have always said about some of these rappers. They don’t have the intelligence to rhyme about nothing but what they have. It almost comes across as throwing it in the average Joe’s face…But as quick a GOD giveth, GOD can and will taketh away….He has always been an arrogant self-righteous son-of-a-mother!!

  • WIFEY06

    NEVA MIX BUSINESS WITH PLEASURE. IT IS ALL BUSINESS DON’T GO ABOVE AND BEYOND B/C YOU’LL BE STIFF. I DO NOT CONDUCT BIZ WITH FRIENDS B/C SOME OF THEM WILL NOT CARE THAT YOU ARE TRYING TO START A BUSINESS. THEY WANT EVERYTHING FREE.

    HAD A BIX.. FRIEND NEEDED TO GIVE PAYMENT I GAVE HER THE PAYMENT RULES I GIVE EVERYONE.. SHE HAD AFIT. I NEVA SOLD ANYTHING ELSE TO MY FRIENDS AGAIN. MONEY WILL DO THAT TO FRIENDS. IF SHE HAD IT WHY NOT PAY.. ACT LIKE IT IS MY FAULT I HAD TO ASK HER FOR THE MONEY!!!

    BUT THEN THESE FOLKS ARE GREEDY AND WASTEFUL……
    DON’T DO BIZ WITH FRIENDS!!

  • JC o’ B’klyn

    Rachel Roy wants a divorce ’cause of Dame’s associates (Jim Jones, Jim Jones’ friends, Cam’ron, Cam’ron’s friends et al.), that’s the real reason. Rachel Roy deals with 5th Ave., but Dame still wanted to be hood.

  • JC o’ B’klyn

    So, Dame thought he could create another Jay-z with Jim Jones? hhaahahaa heheehe lol…

  • *Treasure*

    I am not going to be gleeful because he lost all of his stacks, but he is so conceited. He loved showing off and had an attitude of arrogance, cockiness, and self importance. Someone once told me a fool and his money shall soon part. Those words hold a ring of truth for Dame.

  • JC o’ B’klyn

    I saw Dame on MTV Crib once in an episode that filmed in England. In it, he had 2 cameramen, one filming the one filming him. He was also in a pool with, about, 12 girls, mostly white and mixed. He also presented to viewers in that Crib clip, Mick Jagger’s daughter, Jade Jagger. Where are these rich friends now?

  • A Reloaded EBT card, Retightened weave, $7 for gas, Bologna and bread in the fridge, New dress bought from Bloomingdales that I’ll return Monday, trade my W.I.C. coupons for weed, drop my ugly kids at my moms, New ghetto club opening, need new babydaddy!

    oh i forgot,

    Love 6am

  • A Reloaded EBT card, Retightened weave, $7 for gas, Bologna and bread in the fridge, New dress bought from Bloomingdales that I’ll return Monday, trade my W.I.C. coupons for weed, drop my ugly kids at my moms, New ghetto club opening, need new babydaddy!/

    Dame looks amazing in that photo. All he needs is a stiff one in his rear. That will take his pain away.

    love 6am

  • karen

    Jay Z is semi as a rapper, he has money trunuff, but that doesn’t mean he is one of rap’s greats. He made money bc there was no one else after Biggie & Pac died. Jim Jones makes young ppl party music. All of today’s rap is kind of a mockery to 1st generation rap music, but if the kids like it, I love it. Seriously doubt that Dame is “broke”. He has celebrity on his side anyway & celebrities have a knack for making a comeback. Plus, he has a handsome son and these young girls and their parents will buy anything.

  • UPDOWN

    Here’s the conversation I’ll have with Dash in about five years
    “Hey Dame, I like the new car smell in my ride and not that much Armoral on my tires ,Dukes! and can you wipe off my bumper a little better than that bruh, the waters dripping. and yes I’ll listen to your demo of your group that you got in the studio, if you do a good job…….See you next week, keep ya head up!”

  • NYC Gal

    Damon Dash is broke! Plain and simple! That’s why his wife left him. If the creditors can’t get the money from Dash, they go after the wife’s assets (clothing line).

    Rachel Roy was going to put up with his crap only if he had money but since he doesn’t have any, she divorced him.

    Look at the Madoff case that is going on in NYC. The law is now going after the wife’s assets.

  • http://www.myspace.com/misssdl HellaCuteScorpio

    LOL I laugh at this shit.. He so whack

  • http://fawker.us/2009/03/27/russell-simmons-aint-no-ngga-likedame-dash/ Russell Simmons :”Ain’t No N*gga Like..Dame Dash” |

    [...] Damn, was that at us Russ? [...]

  • http://gossiboocrew.com/2009/03/27/russell-simmons-stands-up-for-his-boy-damon-dash-saying-there-aint-no-otha-likeem/ Russell Simmons Stands Up For His Boy Damon Dash, Saying There Ain’t No Otha Like’em!!!! « GOSSIBOO

    [...] That’s Cool as F**k Russell, we appreciate what you gotta say sir and we stand behind you on this and Damon… [...]

  • Carla

    You know what, if Dame had been married to Rachel Ray instead of Roy she would have put together a massive fund raiser in order for him to have a little moola to survive the financial blizzard, lol. But since Dame is divorcing Rachel Roy now he has no excuse for not q.t. with his son Boogie, wel that’s he’ll have to offer considering that he isn’t a high roller any longer, lol…

  • nice

    People who don’t really have to work for money don’t appreciate it. Dame ate off of Jay. No Jay, No Dame.

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