*Jay-Z will officially regain the rights to his 1996 album “Reasonable Doubt” in 2031.
Dame Dash, who has been trying to sell his Roc-A-Fella shares, will see his 33.3% stake in the record company auctioned off later this month, Hot New Hip Hop reports.
According to Jay-Z’s recent legal filing, the album rights will revert to him after 35 years, making the upcoming auction of Dash’s shares relevant for only about six more years of revenue from the album. In other words, the winning bidder of the auction will receive one-third of the revenue from “Reasonable Doubt” for approximately six years. The minimum bid for Dash’s stake is $1.2 million.
The auction is intended to cover a judgment from a defamation and copyright infringement suit won by Christopher Brown and Muddy Waters Pictures against Dash.
In a 2023 interview with Dr. Taje Moreno on The CEO Show, Dame said he is a “proud broke” man.
The Roc-A-Fella co-founder talked about his financial challenges and the difficulties he faced in paying child support in the past, Complex reported.
“While I’m investing in something else, I might not be making the money and the profit, so I can’t afford to pay out what I was when I was having EBITA [earnings before interest, taxes, and amortization] of $8 million a year,” he said. “So you can’t judge how much I’m gonna pay out by how much I made 20 years ago.”
Back in 2019, TMZ reported that Dash claimed he couldn’t pay his bills because he was broke. The infamous music producer denied these claims, stating that the outlet has “been saying the same sh*t for 12 years.”
Dash was ultimately arrested for failing to pay his child support. After his release from jail, he informed the media that the debt was handled.
We reported previously that Dash owed back child support to Rachel Roy and Cindy Morales. He was said to owe $950,000 in child support back in December 2019, according to Complex. In legal documents around that time, he claimed he only made $56K in 2018, while his ex-wife Roy took in $500K.
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