News: Dame Dash Denies Money Problems, "I Am A Cake-aholic. My Quality Of Living Never Changes"
Tuesday, Nov 24, 2009 11:35AM
Roc-A-Fella co-founder Damon "Dame" Dash recently addressed the recent speculation about financial problems, and said he appreciates the attention.
According to Dame, his money problems are overly exaggerated by the media.
"I have fun everyday," Dash said about his life post-Roc-A-Fella. "The problem is, I think people take themselves a little bit too serious. I'm happy to be a part of history so many different times in so many different ways. I'm from a place where you have your ups and your downs. That's not really what I'm concerned about. It don't matter. I'm Dame Dash broke, I'm Dame Dash not broke -- I'm Dame Dash when I got some money. But we also know that when Dame Dash got some money, he's putting it into his businesses. I am a cake-aholic. My quality of living never really changes, ever! I've never had to sacrifice or compromise. Y'all actually seen a lot of my tragedies," Dash said. "I know what real pain feels like. Y'all seen me cry...All this other stuff, because these people wanna sell papers and say things, I don't care about that. I don't defend myself." (MTV)
Dash recently explained how a tax accountant stole money from him.
"The first thing you gotta kick when you're an entrepreneur is your ego," Dame explained in an interview. "You can't look like you're doing good all the time. You gotta struggle and I don't mind grinding, I actually like it. I'm almost addicted to it. Even when the thing with all my taxes happened, I thought, you know I made a bunch of money and I thought my accountant paid my taxes instead he stole some money out my account and didn't say nothing. I look at that as a learning experience, it just won't happen again, you know what I mean? I don't regret nothing, I got too many healthy kids. You know, I got four of 'em so as long as they're around and they're cool, I'm good." (Mixtatape Monster)
He previously said his financial issues were in part due to looking after his associates before himself.
"My mistake was watching everyone else's careers and not watching mine," Dame explained. "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. At first I wanted to help him because I've known him since he was young and me listening to the album and thinking it was really good. I thought it deserved to be heard outside of the urban market. So I spent the last six months doing research, trying to figure out how to use all my resources to blow this out...I'm not in the community like I used to be. I just know that good records sell. But I also know I don't depend so much on record sales; I depend on the brand." (Billboard)
The Harlem-based rap figure's recent financial problems have been publicized over the past few years.
An August 2008 lawsuit claims Dash and wife Rachel Roy have failed to pay due amounts on their luxury Tribeca condos from January to August totaling $7.8 million, which has resulted in the early steps of foreclosure proceedings. Eastern Savings Bank claims the couple agreed to make monthly payments of $78,500 on the properties. (Associated Press)
Check out Damon Dash speaking on his business habits below: