Dame Dash says no one showed up to buy his one-third stake in Roc-A-Fella Records, not even Jay-Z.
The Roc-A-Fella co-founder shared on his America Nu Network that New York State won the auction for $1 million for his shares of the label, whose primary asset is Jay-Z’s debut album Reasonable Doubt. Dame Dash is now questioning why Hov wasn’t interested in buying his own work and why no one else in the industry showed up to the auction.
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“Jay didn’t even make a bid,” he shared. “He didn’t think it was worth $3 million. A billionaire, supposedly.”
Interestingly, Dash revealed that Drake previously made a $6 million bid for his Roc-A-Fella stake but later withdrew it and disappeared. “Drake did put a bid in for $6 million, but then he disappeared. I don’t know what happened,” the former label exec added. “But other than that, no one was serious. No one wanted that sh–, period.”
The auction, held last Friday in Manhattan, was to settle Dame Dash’s death, which reportedly amounts to approximately $10 million. He allegedly owes the state of New York $8.7 million in back taxes and another $193,000 in back child support payments. It seems that the child support payment will be taken out of the final bid price.
Drake has not reacted to what Dame Dash says, and Jay-Z has not been speaking publicly on the matter. Dame and his attorneys previously accused Hov of trying to muddy up the water in the auction by claiming that the Reasonable Doubt rights will revert back to the rapper in the year 2031 due to US copyright laws, which apply to work that is over 35 years old. However, New York State attorneys argued that Roc-A-Fella Inc. will continue to own the rights until 2098. They also slammed the label for not providing documents to show proof of royalties the landmark album generates.
The judge declined to rule on the copyright matter and proceeded with the auction.
