A little more than a week ago, Dame Dash said that he wanted to patch things up with his former business partner Jay-Z after dissing him over the years.
As most know, Jay went on to become a billionaire after they sold their label Roc-A-Fella Records in 2004, and Dame has faced some financial challenges.
During an interview with The CEO Show, he gave some details into his finances and admitted to losing money over the years.
On top of that, the 52-year-old said that he can't pay hundreds of thousands a year in child support like he did back in the day. [Jump to the 11:40 mark]
"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 [earnings before interest, taxes, and amortization] of $8 million a year," said Dame, who was arrested in 2019 for not paying child support. "So you can’t judge how much I’m gonna pay out by how much I made 20 years ago."
Dame then said that he had to start a new company with no financial backing.
"I had to do it [by] rubbing two sticks together," he said. "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."
Do you understand Dame's reasoning here?