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Dame Dash Ordered To Sell ‘Roc-A-Fella’ Shares

Author Autumn Hawkins
NEW YORK - DECEMBER 08: Record producer Damon Dash attends a special screening of "The Wrestler" hosted by The Cinema Society and Entertainment Weekly at the Tribeca Grand Screening Room on December 8, 2008 in New York City.

Dame Dash has been ordered to sell his last Roc-A-Fella shares after failing to pay a $823,000 judgment. According to legal documents obtained by XXL, on Feb. 13, a judge issued an order mandating Dame Dash to sell his stake in Roc-a-Fella Records to pay off his debt for a lawsuit.

What Is The Lawsuit About?

Dash is getting sued by a film producer for defamation and copyright infringement. Josh Webber, is suing the rap mogul over the 2019 film Dear Frank. In 2022, Dash lost the lawsuit, and he was ordered to pay $705,400 plus $117,884.71 in legal fees. Since Dash has not paid the amount due, Webber has requested that his assets be used in order to pay for the damages.

Dash wrote on Instagram back in 2022, “You have to lose some battles to win a war….stay tuned #fatliars #youllneverbeme. Don’t ever say you Directed MY movie.”

How Do Jay-Z and Kareem “Biggs” Burke Feel About The Sale?

Co-founders Jay-Z and Kareem “Biggs” Burke, are not in favor of the sale of the shares, legal documents state. Jay tried to buy Dash’s shares back in 2021, but he was offended by the offer.

“When I was offered a certain amount of money for my interest in Roc-A-Fella Inc., which owns Reasonable Doubt, they offered me, like, a million and a half dollars—Jay-Z. And I was like, ‘That’s some disrespectful s—,'” he said during a 2023 interview with VEUIT. “So, I guess I have to sell it someplace else.'”

Dash also tried to sell Reasonable Doubt — Jay-Z’s 1996 debut album —  but that was also shot down. The company said that he simply can’t sell what he doesn’t own despite being a founder of the label.

“He planned to auction of Reasonable Doubt would result in irreparable harm,” the record company said in a statement to Rolling Stone at the time. The Court should stop Dash from attempting to sell the copyright to Reasonable Doubt, require Dash to return the NFT of Reasonable Doubt to RAF, Inc., and hold him accountable for this brazen theft of RAF, Inc.’s most prized asset.”

“Roc-A-Fella was given 180 days to deliver Dash’s stock certification to the U.S. Marshal’s Service, which will sell the shares at a public auction,” the legal documents state.

Jay-Z: The Businesses That Made His Billion-Dollar Empire

  • Roc-A-Fella Records - Record label

    Roc-A-Fella Records is a record label and music management company. Roc-A-Fella Records signed Kanye West, Cam’ron, Jadakiss, and other influential artists in hip-hop. Jay-Z founded Roc-A-Fella Records along with Damon Dash and Kareem “Biggs” Burke in 1996. In 2005, Jay along with Dash and Burke, sold the company for $10 million. Island Def Jam Music Group bought 50% of the record label that year.

  • Roc Nation - Entertainment company

    Roc Nation is a full-service entertainment company founded by Jay-Z. They specialize in artist and athlete management under Roc Nation Sports. They also service labels, publishing, touring, and film / TV ventures and keep an open mind to other areas it has not yet explored.

  • Roc-A-Wear - Clothing

    Jay started Roc-A-Wear with Dame Dash in 1999. In 2007, Jay-Z sold the rights to the Rocawear brand to Iconix Brand Group for $204 million. However, in 2019, the rapper bought back the intellectual property rights to the brand for $15 million as part of the settlement between him and the Iconix Brand Group. The company is known for its iconic streetwear, including jeans, jerseys, footwear, outerwear, headwear, and more.

  • D’USSE Cognac - Alcohol

    https://www.instagram.com/p/Cvhx-_nOBWI/

    Jay-Z launched D’USSE Cognac in 2012 with a partnership with Bacardi. After a long legal battle, Bacardi acquired a majority interest in the multibillion-dollar brand earlier this year. Jay still remains to have a “significant ownership stake.”According to Complex, Jay confirmed that he owned 50% of the liquor company and Bacardi owned the other half. It is unknown how much of Jay’s stake Bacardi currently has.

  • Armand de Brignac - Alcohol

    https://www.instagram.com/p/CvKOOXUuNBj/?img_index=1

    In addition to cognac, Jay also expressed interest in the champagne brand Armand de Brignac. Armand de Brignac, also known as Ace of Spades, started its relationship with the rapper in 2006 when the champagne bottle premiered in his “Show Me What You Got” music video before officially launching later that year. They also sell Brut Rosé, Demi-Sec, and premier Blanc de Blancs and Blanc de Noirs. The high-end champagne brand was just one of the ventures Jay set out in his long line of business affairs as he sold a 50% stake in his Armand de Brignac champagne to LVMH in 2021.

  • 40/40 Club - Sports bar

    The first 40/40 Club opened in New York City in 2003. The rap mogul then opened locations in Atlantic City (2005), Las Vegas (2007), in his home city at the Barclays Center in Brooklyn in 2012, with its last opening at the Hartsfield–Jackson Atlanta International Airport in 2014. The Atlantic City location closed in 2013 in preparation for Hurricane Sandy but never reopened. The Vegas location closed in 2008. According to its site, a new 40/40 club location is set to reopen in 2024. The exact location has not been announced at this time.

    The 40/40 Club was created due to Jay-Z’s avid love of professional sports. “I love sports,” co-owner and mega music mogul Jay-Z has said per Flatiron Nomad, “and wanted to create an environment that is conducive to match my lifestyle while watching the games at the same time.” The name is derived from players who hit 40 home runs and stole 40 bases in one season.

  • Tidal - Music streaming platform

    Jay-Z bought Tidal in 2015. The streaming service debuted Jay’s Grammy-nominated album 4:44, in 2017 and his collaborative album with his wife Beyoncé, Everything Is Love, in 2018. In March 2021, Jay Z sold 80% of Tidal for $302 million to co-founder and former Twitter CEO Jack Dorsey. Jay still owns the other 20% of the company.

  • Uber - Ride share app

    Jay-Z invested in Uber in 2013 for $2 million. The ride-sharing app company is now worth nearly $60 billion, according to Forbes. Jay’s stake in the company is now valued at around $70 million.

  • Monogram - Canabis Company

    https://www.instagram.com/p/CoxUIMULQVU/?img_index=1

    Jay-Z launched Monogram, a canabis company in 2020 in partnership with Caliva where he is also the brand’s chief brand strategist. Monogram sells the flower and pre-rolled joints. Along with having his own brand, Jay invested $19 million in the cannabis payment company Flowhub. He joined forces with Headline (venture capital firm) and Poseidon (investor company) in the investment.

  • Savage X Fenty - Lingerie

    Jay believes in Rihanna beyond the recording booth. He signed the Bajan pop star back in 2005 and she is now a billionaire herself. Rihanna stepped down as CEO of her lingerie brand this year. However, it is still co-owned by the “Diamonds” singer and a group of investors that includes luxury goods giant LVMH and Jay-Z’s Marcy Venture Partners. The brand is valued at $3 billion.

  • Brooklyn Nets

    In 2004, Jay bought a stake in the Brooklyn Nets when they were still the New Jersey Nets. The NBA team moved to the rap mogul’s home city in 2012. Jay invested $1 million into the sports team in 2004 which now the team is valued at $3.5 billion. Jay sold his stake in the team 2013 after he announced he was creating Roc Nation Sports, the sports division of his entertainment company. Jay registered as a sports agent so he would not be able to have a stake in an NBA team.

Autumn Hawkins is the National Hip-Hop and R&B writer for Beasley Media, currently residing in New Jersey. Prior to working at Beasley Media, she was in broadcast news as an entertainment producer. When she's not impatiently waiting for Beyoncé to drop new music, she is reading, shopping, or planning a vacation.

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