Damon Dash, the hip-hop mogul and record executive who co-founded Roc-A-Fella Records with Jay-Z and Kareem “Biggs” Burke, detailed dire financial straits as he filed for Chapter 7 bankruptcy last week.
The 54-year-old New York native claimed in his voluntary petition, reviewed by The Times, that he is in debt to the tune of $25.3 million. The petition, filed Thursday in Florida, says Dash makes no monthly income and has $4,350 to his name — including $100 in cash, a $500 cellphone and two guns worth $750.
A legal representative for Dash did not immediately respond to The Times’ request for comment on Monday.
Dash’s petition says he owes a total of $25,303,049.47 to as many as 49 creditors, with a majority of that (about $19.1 million) owed to the government in the form of taxes and oth