Damon Dash net worth: Damon Dash is an American record producer, entrepreneur and music executive who has a net worth of negative $2 million. Damon Dash is probably most famous for co-founding the music label Roc-A-Fella Records. Dash co-founded Roc-A-Fella with rapper Jay Z. Born March 3, 1971 in Harlem, New York, Damon Dash was at one time one of Hip-Hop's most successful moguls. As Roc-A-Fella records sky rocketed in popularity, Damon saw his net worth rise to an all time peak of $50 million. Unfortunately, the good times did not last forever. As of December 2013, Damon Dash owes a reported $2 million in back taxes and penalties. Shockingly, by April 2009, Damon Dash, who at his peak had a personal net worth of $50 million, was flat broke. In his divorce proceedings, Dash revealed to a judge that he actually owed $2 million in back taxes and was in the midst of foreclosure on two New York city apartments. He was also being sued by several NYC law firms and various other creditors for lack of payment. His Chevy Tahoe had been repossessed after he could not keep up with the $700 monthly payments. Dash was forced to vacate his $9 million Tribeca New York home which was later sold in foreclosure for $5.5 million. Meanwhile, Jay-Z would go on to sell Rocawear to Iconix Brand Group for $219 million.
As a youngster, Dash attended private schools in New York and recognized his musical calling at an early age. His success as a record producer led him to branch out into other fields where he also enjoyed much success. He founded two clothing lines, Rocawear with Jay-Z, a highly lucrative brand that was eventually sold for hundreds of millions of dollars. When business was booming, Damon used his clout to branch into several other industries and businesses. Damon eventually branched out into film production, marketing, merchandise and talent management. His film company produced a number of noteworthy films, including "The Woodsman", which starred Kevin Bacon and "Paid in Full" which starred Mekhi Phifer. Dash has appeared in both films, as well, although he served primarily as producer. Damon Dash is currently working on the introduction of a new clothing line. It will be called CEO Clothing.