News: 50 Cent Jabs Damon Dash, "I Paid Attention To Where I Was At Financially, Maybe He Should've"
Tuesday, Aug 17, 2010 6:00PM
Hip-Hop entrepreneur 50 Cent has taken a swipe at Damon "Dame" Dash's recent financial struggles, chiding the Roc-A-Fella Records co-founder in a new interview.
Speaking on the high points of his career, 50 also shared his thoughts on recently incarcerated rappers like Lil Wayne.
"The case Lil Wayne is in jail for now, when T.I. went, when Gucci Mane went--that was supposed to be 50 Cent. Sometimes I look at artists when they get in trouble after success and it makes me feel like they didn't experience enough of that prior to the success. If you did, you would know better...[Around my signing], Damon Dash made reference to a million dollars being no money . . . in a kind of derogatory way. When he said that, I paid close attention to where I was at financially. But maybe he should've paid attention to his." (VIBE)
Last month, Dash had his multi-million dollar New York City duplex auctioned off.
The auction in state Supreme Court was ordered after Dash was sued nearly two years ago for failing to pay the $78,504 monthly tab on a $7.3 million mortgage on the two Manhattan apartments he owned. Only one of the homes, at 25 N. Moore, fetched any interest yesterday, with the winning bid going to a California-based mortgage and finance firm called Platinum Capital Partners. Edward Farrell, a lawyer representing the buyer, plunked down a check for 10 percent of the sale price in court, but refused to answer any questions about his client. (New York Post)
The rap impresario reportedly maintained ownership of the property dating back six years ago.
In 2004, he bought the duplex apartment for $3.875 million and paid $1.33 million for the smaller one. In 2006, near the peak of the real estate boom, he refinanced both properties for $7.3 million. But as he was failing to make his monthly mortgage payments, Dash twice tried to sell the duplex, first in 2008 -- right after the crash -- for $7.9 million and again in 2009 for $5.75 million. A broker familiar with the market in that neighborhood said the mortgage on his units is 30 percent above the current market value. (My Fox)
Last May, Dash discussed negative press he received surrounding his financial woes.
"I started to go through a lot of bad press all of a sudden," he explains of the period following the sale of his shares in Roc-A-Fella Records and Rocawear Clothing. "Like, the recession hit everybody, but me being a businessman and motherf*ckers getting caught up in the storm, all my issues were completely public. And completely exaggerated. So the recession sh*t happens, I don't give a f*ck." (YRB Magazine)
Check out a recent 50 Cent interview below: