New York State Acquires Dame Dash’s Roc-A-Fella Shares
New York State Acquires Dame Dash’s Roc-A-Fella Shares. In a significant move within the music industry, New York State has recently acquired Roc-A-Fella shares previously owned by co-founder Dame Dash. This acquisition marks an important shift in ownership for the iconic record label and has sparked discussions within the hip-hop community and beyond.
New York State’s Acquisition
New York State Acquires Dame Dash’s Roc-A-Fella Shares.
According to the New York Post, Dame’s shares of Roc-A-Fella have been acquired. New York State allegedly took the shares to pay some of Dame’s back taxes.
Some of the money will also be used to pay Dame’s child support arrangements, which have been very arduous for the former music mogul.
Dame Dash owns one-third of the shares in Roc-A-Fella records. Therefore, I question if Jay-Z would be affected by Dame’s share sale.
Shawn Carter and Dame Dash were partners in the former famous record label. However, the two men parted, and the record label ended.
With the state stepping in as a stakeholder in the record label, questions surround the motivation behind this move. Some speculate that this acquisition could be part of a larger strategy.
In contrast,e others believe it may be an opportunity for New York State to recover some of the $8.7 million. They claim that Dame owes New York State $8.7 million in back taxes.
There are still some discrepancies with Jay-Z, who allegedly claims the album “Reasonable Doubt” is his.
Dame Dash’s Shares Sold For $1 Million
Yahoo reports that New York State won the bid in an auction on Thursday, November 14, 2024. The shares were said to go for $1 million, with close bids for $250k.
As a co-founder of Roc-A-Fella Records, Dame played a pivotal role in the label’s success. Jay-Z and Kareem “Biggs” Burke were also partners with Dame.
Now that the State has bought Dame’s shares, it can resell them at no risk. In other words, Jay-Z may have the chance to purchase Dame’s shares after all.
But will Jay-Z have paid for his music catalog again? Especially since Jay-Z claimed most of the record label recordings were his alone.
Either way, Dame appears to be still in arrears even after selling his share of the label. As we mentioned earlier, Dame allegedly owes a lot of back taxes and child support.
Roc-A-Fella Records was instrumental in making Jay-Z a household name. ROA helped other music artists’ careers, such as Beanie Sigel, Camron, Nipset, and Freeway.
In addition, rappers Jadakiss, Memphis Bleak, and Kanye West. So, you can see that ROA was a force that needed to be reckoned with. Since then, many of the rappers we mentioned have gone on to have great success.
Only time will tell who will eventually acquire Dame’s shares from New York State. One thing is sure: the music world will be closely watching as this story unfolds.
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