Dame Dash, co-founder of Roc-A-Fella Records, has offered a unique incentive to potential buyers of his shares in the legendary record label.
In a bold move, Dash disclosed that if the bidding for his one-third ownership in the company surpasses $10 million, the winning bidder will receive a prized possession—a genuine Roc-A-Fella chain. Dash’s announced this incentive in a post on his Instagram page.
Why is Dame Dash selling his Roc-A-Fella shares?
The decision to auction off his stake in the company comes after a legal battle that has left him with a hefty debt of nearly $1 million.
The auction, set to take place on August 29, was ordered by a judge to satisfy the debt Dash owes to film producer Josh Weber following a lawsuit for copyright infringement and defamation.
Despite the legal pressure, Dash is approaching the auction with optimism and assertiveness. He’s made it clear that he’s received several offers, some of which he describes as “very healthy.” However, he’s also set a high bar for potential buyers, emphasizing that anything less than $10 million won’t be enough to secure the additional perk of the iconic chain.
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The Roc-A-Fella chain, a symbol of the label’s influence in the music industry, adds a layer of nostalgia and prestige to the sale. It’s a piece of hip-hop history, directly linked to the label’s success, which was co-founded by Dash alongside JAY-Z and Kareem “Biggs” Burke. The label’s most significant asset is the rights to JAY-Z’s debut album, Reasonable Doubt, which remains a cornerstone of the rapper’s career.
Jay-Z moves to secure interest in Roc-A-Fella
However, the auction isn’t without controversy. JAY-Z and Burke previously opposed the public sale, arguing that it violates Roc-A-Fella’s bylaws.
Adding to the complexity, JAY-Z has asserted that regardless of who buys the shares, ownership of Reasonable Doubt will revert to him in 2031.
Dash, however, disputes this claim, maintaining that the sale involves a stake in Roc-A-Fella Inc., not the album’s copyright.
