The feud between Jay-Z and Dame Dash, the co-founders of Roc-A-Fella Records, has taken a new turn as rapper has stepped in to prevent Dame from selling his stake in the label.
Dame Dash, who owns one-third of Roc-A-Fella, is facing a $823,000 judgment against filmmaker Josh Weber, who sued him for allegedly stealing his movie Dear Frank in 2019. Dame was supposed to direct the film in 2016 but was fired for being unprofessional and incompetent.
To pay off his debt, Dame planned to auction off his shares of Roc-A-Fella, which is home to Jay-Z’s iconic albums such as The Blueprint and The Black Album. However, Jay-Z and the other co-founder, Kareem “Biggs” Burke, objected to the sale, arguing that it would violate the company’s bylaws, which require the approval of the board of directors.
The judge, US Magistrate Robert W. Lehrburger, disagreed with Jay-Z and Biggs. He ruled that Dame’s shares were his personal property and could be seized by the U.S. Marshals Service for an auction within 180 days. The judge also criticized Jay-Z and Biggs for creating a no-sell-off clause in 2021, without Dame’s consent or knowledge.
Why Jay-Z and Biggs are objecting to sale of Dame Dash’s shares
Jay-Z and Biggs are not trying to help Dame, though. They are more concerned about the possibility of an outsider buying the rights to Roc-A-Fella’s catalog, which could jeopardize their legacy and profits.
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Jay-Z, who is now a billionaire and owns his own streaming service, Tidal, has been trying to distance himself from Dame for years, after their bitter split in 2004.
Dame, on the other hand, has been struggling financially and legally, facing multiple lawsuits and tax liens. He has also been vocal about his resentment towards Jay-Z, accusing him of betrayal and disloyalty. He recently claimed that he was the real reason behind Jay-Z’s success and that he deserves more credit and respect.
Dame Dash describes Jay-Z as a double dipper
Meanwhile, Dame Dash, the co-founder of Roc-A-Fella Records, has reignited his feud with Jay-Z and Fat Joe.
In a recent episode of his America Nu Network podcast, the record executive responded to Fat Joe’s remarks that he was “delusional” and challenged him to “make another one [Jay-Z]”.
Dash accused Jay-Z of being a “double dipper” who took money from both the label and his own artist contract.