Rock-A-Fella co-founder Damon Dash has asked a judge to significantly lower the amount of monthly child support payments he’s been ordered to pay.
via: HipHopDX
According to documents obtained by TMZ on Tuesday (January 9), the Roc-A-Fella Records co-founder is asking the court to lower his payments to $428 a month from his current rate of $3,000 a month because, he alleges, that’s all he can afford due to “struggling business ventures.”
He also claims he only made $5,140 for all of 2022, adding that the pandemic significantly affected his income, and he has yet to bounce back.
In her filed response, Rachel says her ex is lying, and that his ownership in Roc-A-Fella alone should still be paying him nicely. She also claims he has other lines of revenue that he’s not disclosing.
A judge has yet to rule.
In an October interview on the America Nu Network program The CEO Show, Dame Dash explained the current state of his business dealings, and why that has led to problems paying child support.
“While I’m investing in something else, I might not be making the money and the profit, so I can’t afford to pay out what I was when I was having EBITA of eight million dollars a year,” he told the show’s host, using business jargon for Earnings Before Interest, Taxes, and Amortization. “So you can’t judge how much I’m gonna pay out by how much I made 20 years ago.”
“I’ve had to start [a] new company from scratch, without any money to start it with,” he continued. “I had to do it [by] rubbing two sticks together. So I can’t pay out three or four hundred thousand a year in child support, ‘cause I ain’t making that. But I’m not ashamed of that because I have things to show for it, but it hasn’t profited yet. I’m like a proud broke, but it ain’t broke, because I have things to show for it.”
Dash went on, claiming that the level of his child support payment was originally based on his ownership stake in Rachel’s fashion line — equity that he says is now controlled by her.
“So I have to now start a new company, without any working capital,” he said. “So I had to flip. So while I’m doing that, it’s like, yo, [Rachel] got the money I was making — [she should] pay the bills. But you can’t be mad at me and make me feel bad if the money that I had to give the kids, you got, and you still expecting me to pay that while I’m investing and losing money for years.”
Dash’s child support issues exploded into public view in 2019 when the mogul was arrested for reportedly owing hundreds of thousands of dollars in support to two different women, including Roy.
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