Dame Dash has responded to reports claiming that he is broke.
The story was first reported by TMZ who claimed that music mogul Damon Dash was in severe debt. Now Damon speaks out against their claims stating that they’re blowing smoke. On November 14th Damon Dash got the shock of his life after reading an article posted by the gossip news site. In their article, they made some pretty serious statements informing the world that Damon Dash is broke and is struggling to pay his court-ordered settlements. TMZ claimed that in response to an ongoing business lawsuit, Damon submitted legal papers saying that he is unable to pay the $2400 that he currently owes. They made direct references stating that Damon himself cited that he is currently not earning an income as his business is not making any money.
Damon stated in the documents that his sole income at the moment is from Lee Daniels, TMZ pointed. Lee reportedly owes Damon $2 million, and TMZ made a note of a video they posted last year during which Damon can be seen angrily confronting Lee at a Diana Ross concert. According to TMZ, Lee made arrangements to repay the $2 million but has been doing so in increments which has been getting eaten up by debt collectors. They emphasized this to stress just how broke Damon is, even quoting him stating, “My income streams have all been garnished … and it is very difficult to address the mounting bills until I receive some relief from the courts.”
They went on to make mention of him requesting to get his child support terminated by a judge back in September. Also noting that Damon made only $56,000 in 2018. According to TMZ, Damon’s fiancee is expecting, and they state this as one of the reasons why he is having financial difficulties. Stating, “Dash says he’d love to comply with the court order to pay the $2,400, but money doesn’t appear magically. He says he hopes he’ll have the funds by January.”
In a shocking twist, Damon has taken to Instagram to voice his thoughts on TMZ’s story. Damon claims he is nowhere near broke and cites his multiple businesses as evidence. He stated that the site is merely trying to bring him down. “Perfect example of how they always trying to make a strong independent black man look broke…this is the narrative they push no mention of my 24 network or my streaming service…or my galleries just bubblegum s*it…” he wrote.