How much is Damon Dash worth?
|Net Worth:||$1 Million|
|Date of Birth:||May 3, 1971|
|Country:||United States of America|
About Damon Dash
Today, Damon “Dame” Dash is one of the most popular and well-known music producers of our generation, but before rising to fame, his life was not what it is today. Damon Anthony Dash is a 49-year-old record executive, film producer, director, actor and business entrepreneur. Born in New York, Dash suffered a rough childhood when his mother passed away from an asthma attack, and he was only 15 years old. However, this loss is actually something that contributed to his drive and determination at an early age.
We calculate Damon Dash has a net worth of only about $1 million dollars, as of 2020. Which is incredibly low considering his long time business partner Jay-Z is worth well over a billion… and there was a time Dash had a personal fortune of over $50 million.
How did Dame Dash get rich?
As you know, Damon Dash got famous from working with Jay-Z, however, fame doesn’t always bring riches straight away. Once Dash had made a solid name for himself in the music industry, he went down the route of entrepreneurship, opening his business based around fashion and lifestyle. In 2007, he sold his company, ‘Rocawear’ for a reported $204 million, to apparel company ‘Iconix’. This rocketed his wealth and many would think that Damon Dash would be set from this one deal alone. Yet life had more in store for the talented music producer and entrepreneur.
Going back to 1991 Damon Dash signed his first band, and later signed lead singer, Tone Hooker, through his ‘Roc-a-fella’ record company. Although this first signing didn’t get him rich, it did get him noticed, which is how he started out with Jay-Z, and his first big money was earned on a world tour with the rapper. Due to his organization and business skills, Dash helped to earn $18 million from the tour, and also earned his friendship with Jay-Z. The earnings from that first tour is what led Dash to originally get rich. Yet then starting a record company along with Jay-Z is what really brought in the big bucks. Dame Dash’s solid position in the music world is what led him to start in the business, and at that time at least, with Jay-Z at his side nothing could stop him.
However when Jay-Z and Dash began to have business problems it threatened everything. At the time and is so often in business it wasn’t clear what the damage would be over the fallout, yet many would say the route cause of Dame Dash’s massive financial problems are directly linked to his fallout with Jay-Z. The break-up not only broke the two apart as friends, turning them into enemy business partners, but it also changed the future of the company. Roc-A-Fella Records was shut down in 2013 and it spiraled Dash into a financial troubles like he would never have imaged. It got so bad that in 2017, Damon Dash was worth just $10,000.
While both Dash and Jay-Z are still big names in the music industry, it is Jay-Z who has kept his riches and grown past these issues. While Dash has continued to have serious financial problems.
Saying that, Dash has begin to build his name back up, and as of this year, his net worth is about $1 million dollars.
Why is he so famous?
Dash started out his career as a music executive and producer. In 1991, whilst he was working for Atlantic Records, he signed his first album, ‘This is how it is’, with 90s hip-hop rap group ‘Original Flavor’. Although this band never really made it into the big leagues, the lead singer, Tone Hooker, was actually later signed with Dash’s own record label.
After his first band took off, Dame Dash spent a few years signing and producing other bands for Atlantic Records, before one of the members of ‘Original Flavor’ (DJ Clark Kent) introduced him to Shawn Carter, a former Brooklyn drug-dealer, trying to make a career as a rapper, who we now know today as Jay-Z. After a few smash hits, and a very successful world tour, Jay-Z and Dame Dash, as well as Biggs Burke, went into business together and started their own record company, ‘Roc-a-fella’, where they signed some of the biggest names in rap today, including Kanye West, Beanie Sigel, and Jay-Z himself. Working with these artists and running the record company is what brought Damon Dash’s name into the spotlight.
What makes him so successful?
More than anything, Damon Dash managed to become successful through his thick skin and tough work ethic. In lots of interviews, he has actually given his rules on how to be successful, and some are listed below:
- NEVER COMPARE YOURSELF TO OTHER PEOPLE – Dash says that comparing yourself to other people is the equivalent of setting yourself up to fail – he thinks the most important part of success is being yourself
- INDEPENDENCE IS KEY – Similar to his other rule ‘if you want something done, do it yourself’, he says that independence shows a good work ethic
- EMBRACE PAIN – Dash says that embracing pain is part of rejection and that success is not possible and also doesn’t feel as great if you haven’t failed first
- IF YOU WANT SOMETHING DONE, DO IT YOURSELF – again, this shows independence, and also means you can work at your own pace
- BE CONFIDENT – Dash says that confidence in yourself is the light guiding you to success and that believing in himself was what made him the person he is today
- FIND HAPPINESS BEFORE WEALTH – although he is still somewhat rich, Damon Dash says that the most important part of being rich is also being happy, rather than just looking happy to other people
- BE OBSESSED WITH YOUR WORK – he says that you have to have your heart and soul in your work if you’re going to succeed in it
- APPROACH THINGS DIFFERENTLY – whilst this can involve being unique, Dash says that seeing where others have failed, and changing what they did to make it successful instead, is mainly what this rule is about
Dash says that the most important thing for success is believing in yourself, and following these rules is what helped him to have confidence, and eventually, become successful. And while Dame Dash might be having financial troubles today, sticking to these rules he may well bounce back or if nothing else, earn enough to live and do what he loves.
Damon Dash is a well-known music producer and businessman, who became rich and famous through his musical connections with Jay-Z. His rules for success are what led him to be the name he is today, and although there have been ups and downs, as well as bumps along the way, Dash is one of the most successful and well-known music producers in the rap scene.