Dame Dash owes a $823,000 judgment to movie producer Josh Weber after losing dueling lawsuits over a movie they were going to produce together before Weber fired Dame.
Since Dame has no money, he was forced to auction off his 1/3 share in Roc-A-Fella to pay the judgment. Roc-A-Fella’s biggest asset is JAY-Z’s Reasonable Doubt album.
The minimum bid was $1.2 million, which is 10X the multiple of the royalties the share produces yearly.
According to Dame, nobody even showed up to bid, and he now thinks of Hov’s legacy differently.
“No one showed up. The state made a bid for it, a million dollars. And that’s really what is worth it,” Dame said. ”What this really taught me is that, in the world, homie as he portrays. I thought more people would be interested in the value of art. That’s what I was selling … If they really loved him like that, I thought some collector — like the Wu-Tang thing — Wu-Tang is loved. People really value them a certain way … there was no love. Nobody even showed up … it didn’t even get market value.”
Dame added that the companies that buy catalogs—often for 100 of millions—took a look at the 1/3 share and passed.
There had been rumors that Drake offered six million for the share, partly to spite JAY-Z, who had named his opp, Kendrick Lamar, the halftime performer for this year’s Super Bowl.
But Drake either pulled or never made the offer.
Is Hov’s legacy less than what folks make it out to be?