Dame Dash’s meteor-sized cash crater of financial woes is heavy this week. The Roc-A-Fella Records cofounder is reportedly losing companies and copyrights in order to pay off more than $800,000 in debt.
Dame Dash Forced to Hand Over His Most Valuable Assets Because He Didn’t Pay Up
According to a report published by AllHipHop.com on Wednesday (June 11), Dame Dash failed to pay $823,284 in damages awarded to filmmaker Josh Webber in 2022 stemming from a defamation and copyright infringement lawsuit in 2019. As a result, Dame is being forced to part ways with major assets, including various copyrights and even his film company, among other businesses.
What Companies and Copyrights Will Dame Dash Lose?
U.S. Magistrate Judge Robert W. Lehrburger issued a ruling on Tuesday (June 9) requiring Dash and his company, Poppington LLC, to hand over full ownership of Bluroc LLC, Blakroc LLC and Dash Films Inc. Dame will also fork over any interests in companies like 1996 Songs LLC, Lebanon Improvements LLC and Ocean East Improvements LLC.
Copyrights to movies made by Dame and his umbrella company, Poppington, will also be surrendered to cover Dame’s debt. The rights to films include those of Honor Up, Too Honorable, We Went to… China and Welcome to Blackroc.
Read More: Dame Dash Claims Drake Offered to Buy Dame’s Share of Jay-Z’s Reasonable Doubt Album
What Will Happen to Dame Dash’s Assets?
Dame Dash and his legal team have until Monday (June 16) to file an objection to the federal forfeiture ruling. After that, the U.S. Marshal will put all of the assets mentioned up for auction within 180 days.
Dame Dash Has Been Forced to Sell Assets Before, Including His Stake in Roc-A-Fella
While Dame Dash and Poppington’s assets will likely be auctioned off to pay the $823,284 owed as part of the Josh Webber lawsuit over rights to the film Dear Frank, this isn’t the first time Dame faced these types of consequences for coming up short with the cash. After being ordered to give up his stake in Roc-A-Fella Records last year, the State of New York swooped in and bought the asset for $1 million. They used it as a piece of the multi-million-dollar pie Dash owed in back taxes.
XXL has reached out to Dame Dash’s attorney for a statement on the ruling.
Read More: Dame Dash Cites Alleged Court Filing Claiming Jay-Z Is ‘Poisoning’ Federal Auction for Dame to Sell Reasonable Doubt Rights
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