Damon “Dame” Sprint has filed for chapter, citing greater than $25 million in debt and a internet price of solely $4,350, in keeping with court docket paperwork.
Sprint, who co-founded Roc-A-Fella data with Shawn “Jay-Z” Carter and Kareem “Biggs” Burke in 1994, has spent years going all in on a number of enterprise ventures, pledging to stay absolutely unbiased and Black-owned, however it might have caught up with him in a serious means.
Based on PEOPLE, the previous mogul is in debt to the tune of $19.1 million to the IRS and in addition owes an extra $647,000 in “help obligations.” Sprint additionally owes 1000’s in little one help to his ex-wife Rachel Roy in addition to former companions Cindy Morales and Linda Williams.
Sprint has been in an ongoing contentious battle with a number of of his former companions, each professionally and personally, over time however it looks as if he’s prepared to maneuver on with a recent slate after his chapter submitting. The music government and serial entrepreneur posted the information headline of his monetary troubles with the caption, “Now lets get to work #staytuned,” seemingly pointing to this being merely a bump within the highway.
Right here’s to hoping it’s solely up from right here as he claims his month-to-month earnings is $0, and stated he doesn’t personal a home, automobile, or any electronics, save for his $500 cellular phone, in keeping with PEOPLE. He hasn’t shied away from speaking about his monetary struggles and as made it clear that he feels it’s simply the worth of betting on your self.
Any person requested me how I bought so broke. Investing in my goals. If you’re investing in your goals and also you dream large, you’re at all times gonna be broke,” he stated.
Dame has additionally just lately been battling well being points as he posted a thanks to those that checked on him throughout his restoration from profitable tooth and eye surgical procedures, alongside a photograph of himself together with his youngest son. It’s no secret that the previous mogul has expressed his everlasting disdain for his one-time buddies turned enterprise companion turned enemy, Jay-Z, however it’s also alleged that he’s owed an “unknown” quantity from Burke.
Sprint has additionally discovered himself in a disagreement together with his former Dipset artist, Cam’Ron, with whom he as soon as shared an in depth bond, concerning the fallout of their relationship. And nobody can neglect the way in which he pulled up on Empire creator Lee Daniels to demand the cash he allegedly lent to create the present.
All music beef apart, Dame’s largest foe stands out as the New York State authorities, which purchased his shares of the now-defunct Roc-A-Fella Data for $1 million in an effort to recoup the $9 million he owes in taxes.
