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Jay-Z Protects Dame Dash From Having To Sell His Roc-A-Fella Shares

February 23, 2024 by newhiphopnews

Despite all that Jay-Z and Dame Dash have allegedly went through in the fallout of Roc-A-Fella, it looks like there’s still enough there for them to defend each other. For those unaware, according to legal documents reportedly obtained by AllHipHop, the latter might have to give up his shares in the Roc to pay off a debt to film producer Josh Webber and Muddy Waters Pictures. They sued the music executive in 2022, and to collect their $832,000 judgement, they want to go after his stake in the record company. But Hov and the label’s third co-founder Kareem “Biggs” Burke stepped in to prevent these shares from selling out.

Before getting into that, it’s important to bring things back to 2016, when Dame Dash was fired as the director of Webber’s crime thriller flick, Dear Frank. He was allegedly unfit for the directorial role, being verbally abusive to staff and showing up to set high. The 52-year-old thought Webber tried “to take credit for a Black man’s work” and attempted to sell his original directorial vision of the film independently under another title, The List. Webber and Muddy Waters Pictures sued for copyright infringement and defamation, and received a 2022 judgement, but Dash still hasn’t complied with this order at press time.

Dame Dash At “The Prince Of Detroit” Premiere

<a href= — DETROIT, MICHIGAN – JUNE 23: Entrepreneur/Director Damon Dash arrives at “The Prince Of Detroit” Detroit Premiere at Detroit Music Hall on June 23, 2023 in Detroit, Michigan. (Photo by Monica Morgan/Getty Images)

Now, Jay-Z and Kareem “Biggs” Burke objected to this judgement’s collection, and argued that Roc-A-Fella’s bylaws call for the full board to approve of any significant sell-offs like this. U.S. Magistrate Judge Robert W. Lehrburger criticized that this decision finalized at a 2021 board meeting in which Dame Dash was not present and didn’t vote for it. Regardless, the court ordered the Roc to make his stock certification available to the U.S. Marshal’s Service within 180 days.

“The question at the core of the instant dispute is whether the Roc-A-Fella By Laws’ prohibition on transfer and sale of Dash’s one-third ownership interest in shares of RAF without the consent of RAF’s board of directors legally prevents the sale of Dash’s interest in RAF to satisfy the Judgment,” Leherburger questioned. “The answer indisputably is no.” Hov and Burke still has equal opportunity to buy the shares, and Webber’s last attempt to collect the judgement was on Februrary 13. Meanwhile, for more news and the latest updates on Dame Dash and Jay-Z, stick around on HNHH.

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Dame Dash Roc-A-Fella Shares Headed to Auction Over Unpaid Judgment

February 23, 2024 by newhiphopnews

Dame Dash Says R. Kelly is 'Where He Belongs' for His Dealings with Aaliyah

JAY-Z is on Dame Dash’s side in a recent legal matter. Dash was ordered to pay $823,000 in a judgment, and his failure to do so led to a court order to sell his remaining shares of Roc-A-Fella Records.

According to Radar Online, the sum owed is in connection to the 2016 film Dear Frank, which sees the money being paid to Josh Weber. Hov and Roc-a-Fella records third, Kareem “Biggs” Burke interjected, stating the company bylaws reveal the board of directors must approve a sale. The valiant effort may fall short as U.S. Magistrate Robert W. Lehrburger stated the shares can be seized.

On the business side, Hov and Biggs oppose the sale, so the Roc intellectual rights aren’t available via auction, which is exactly what will happen. Lehrburger addressed the two, stating, “They can participate in the auction and place the winning bid.”

“The question at the core of the instant dispute is whether the RAF By-Laws’ prohibition on transfer and sale of Dash’s one-third ownership interest in shares of RAF without the consent of RAF’s board of directors legally prevents sale of Dash’s interest in RAF to satisfy the Judgment,” Leherburger wrote. “The answer indisputably is no.”

Dash was fired as the director of Dear Frank as he was seen as unfit for the job. He then stated Weber ran off with the footage, stating it was his. He would then shop the film to BET under the name The List. Weber won the suit in 2022 but could not collect, leading to the shares going up for auction.

The post Dame Dash Roc-A-Fella Shares Headed to Auction Over Unpaid Judgment first appeared on The Source.

The post Dame Dash Roc-A-Fella Shares Headed to Auction Over Unpaid Judgment appeared first on The Source.

Dame Dash Will Have To Sell His Remaining Roc-A-Fella Records Shares To Pay Off Debt

February 22, 2024 by newhiphopnews

In recent years, Dame Dash has made it a point to seemingly bring up the history of Roc-A-Fella record as often as possible. He appeared on numerous shows discussing notable moments in the labels history, sometimes drawing controversy for doing so. Numerous times he’s made claims that contradict previously understood stories and has even had some of the principle actors involved in his tales come out and correct him publicly. But now his last remaining monetary ties to Roc-A-Fella may be gone soon.

Dame has been fighting an unrelated copyright infringement case for a few years now. He reportedly tried to shop around a crime thriller without the partner who helped him write and conceptualize it. The resulting case ruled against Dame but he never paid up. Now in an attempt to get the money he owes from him, a judge is having Dame sell his remaining Roc-A-Fella records shares. The move wouldn’t just cost him quite a bit of money but also his vote in intellectual property matters relating to the Roc-A-Fella catalog. They’ve been ordered to turn over his shares within 180 days.

Dame Dash Forced To Sell Roc-A-Fella Shares

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The news that Dame Dash may have to give up his Roc-A-Fella shares first broke in September of last year. At the time it was unclear just how likely the scenario was. The legal process for securing payment has been pretty slow going. The original judgement came down in 2023. But the payment could potentially be delayed even further if Roc-A-Fella can find a way to avoid selling the shares in the next 180 days.

Dame is also strapped with trying to pay child support. He recently asked for his payments to be lowered and even claimed he made just $5000 in 2022. What do you think of Dame Dash being forced to sell his Roc-A-Fella shares to pay off his debts? Do you think he will find a way around having to make the sale? Let us know in the comment section below.

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Memphis Bleek Net Worth 2024: Updated Wealth Of The Rapper

February 1, 2024 by newhiphopnews

Memphis Bleek catapulted into the hip-hop scene under the imposing shadow of Jay-Z. Yet, he didn’t let that eclipsed beginning define him. Born as Malik Deshawn Cox in Brooklyn, New York, the rapper had a sense of urgency and ambition often reserved for those striving for self-made statuses. Crafting bars and delivering beats were part of his daily routine, all before he could legally vote. This erstwhile protégé of Jay-Z and a fixture of Roc-A-Fella Records has persistently redefined himself. Bleek balances artistry with entrepreneurship. The man, who refuses to let others ghostwrite his narrative, enjoys a net worth of $3 million in 2024, according to CAKnowledge.

Memphis Bleek’s musical journey is a cornucopia of hits, collaborations, and ventures that defy categorization. Albums like Coming of Age and 534 weren’t just discographies but statements of his lyrical capabilities. While some artists lose themselves in collaborations, Memphis found an opportunity to reinforce his individuality. Whether teaming up with Jay-Z or Rihanna, he was never overshadowed, proving time and again that he’s a lyrical force to be reckoned with. Songs like “Is That Your Chick” and “Do My…” have turned into hip-hop classics for their delivery and enduring impact on the genre.

Beyond The Stage: The Man, The Myth

PHILADELPHIA, PA – SEPTEMBER 03: Memphis Bleek attends 2016 Budweiser Made In America Festival – Day 1. On September 3, 2016 in Philadelphia, Pennsylvania. (Photo by Shareif Ziyadat/WireImage)

You can’t discuss Memphis Bleek without acknowledging his endeavors beyond the music. An affable personality with a knack for business, he’s invested in various ventures, including his own label, Get Low Records. His personal life has largely been kept under wraps, save for his 2014 marriage. It also shows a man who knows where to draw the line between private and public. Though it may sound counterintuitive in the social media age, Memphis’s decision to maintain a level of mystery only adds another layer to his enigmatic persona.

Balancing The Ledger: A Portfolio Worth Its Weight

If his financial advisor’s office walls could talk, they’d probably rap. Memphis Bleek has diversified his assets in the true spirit of modern entrepreneurship. Investments in real estate, a label, and even a line of flavored spirits show that his fiscal acumen is sharp. To understand Memphis’s financial strategy is also to peek into the mind of a man who knows that the rap game’s uncertainty is not to be trifled with.

Memphis Bleek: The Epitome Of Endurance & Ingenuity

Some artists can be described as flashes in the pan. Memphis Bleek is the entire kitchen stove—reliable, diverse, and far from one-dimensional. He’s navigated the precarious terrains of music, business, and fame, without losing his authentic self. His career isn’t just a lesson in survival but a master class in reinvention and resilience. Overall, the numbers on the checks and bank statements may fluctuate, but the essence of who Memphis Bleek is remains constant: an artist and entrepreneur who refuses to be confined by the expectations of others.

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Kareem “Biggs” Burke Net Worth 2024: What’s The Roc-A-Fella Co-Founder Worth?

January 28, 2024 by newhiphopnews

Kareem “Biggs” Burke carries weight in the music industry. Co-founder of Roc-A-Fella Records, Burke’s influence extends beyond the success of the label yet he remains a pivotal figure in the music industry. In 2024, his net worth stands at an impressive $1.5 million, according to Celebrity Net Worth. This article delves into the multifaceted career of the man behind Roc-A-Fella, unraveling the layers that contribute to his financial stature.

Early Career Ventures

Before the glitz and glamour of the music industry, Kareem Burke cut his teeth in the world of entrepreneurship. His early career saw him exploring various ventures, showcasing a keen business acumen that would later define his success. From these experiences, Burke honed skills that would prove instrumental in his journey toward co-founding one of hip-hop’s most iconic record labels.

Transitioning Into The Music Industry

The transition from entrepreneurship to the music industry marked a pivotal moment in Kareem “Biggs” Burke’s career. Burke, alongside Jay-Z and Damon Dash, co-founded Roc-A-Fella Records in 1995. This move would forever change the landscape of the music scene, catapulting Roc-A-Fella into the echelons of influence and establishing Burke as a formidable force in the industry.

The Roc-A-Fella Legacy

Roc-A-Fella Records quickly became synonymous with success, boasting a roster that included some of the biggest names in hip-hop. Under Burke’s guidance, the label propelled artists like Jay-Z to superstardom, cementing Roc-A-Fella’s place in music history. The financial success of the label undoubtedly contributed significantly to Burke’s net worth, solidifying his position as a savvy businessman in the music realm.

Legal Troubles

Despite his significant achievements, Kareem “Biggs” Burke’s journey hasn’t been without challenges. In 2012, Burke faced legal troubles related to drug trafficking. The co-founder of Roc-A-Fella Records found himself entangled in a case that led to a 5-year prison sentence. This period of incarceration undoubtedly had a substantial impact on his net worth.

While behind bars, Burke’s ability to actively manage his business interests was constrained, potentially affecting revenue streams and investment opportunities. Legal fees, coupled with the challenges of maintaining ventures from prison, likely contributed to a temporary setback in his financial standing. However, Burke’s resilience and determination would later play a crucial role in rebuilding his career upon release.

Beyond Roc-A-Fella

While Roc-A-Fella remains a cornerstone of Kareem Burke’s success, his entrepreneurial spirit extends beyond the music label. Post-Roc-A-Fella, Burke ventured into various business endeavors, expanding his financial portfolio, such as film and management. He launched Circle Of Success management company, which boasts SAINT JHN on the roster. Additionally, he ventured into film, executive producing HBO’s O.G. and earning an Emmy nod for It’s A Hard Truth, Ain’t It.

Conclusion

In 2024, Kareem “Biggs” Burke’s net worth of $1.5 million is a testament to his enduring impact on the music industry and astute business ventures. From the early days of entrepreneurship to co-founding Roc-A-Fella Records and beyond, Burke’s journey exemplifies the convergence of passion, talent, and entrepreneurial foresight that defines success in the ever-evolving world of music.

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Beanie Sigel Net Worth 2024: Updated Wealth Of The Rapper

January 5, 2024 by newhiphopnews

Beanie Sigel, known for his contributions to the rap industry, has had a notable career in music, although his financial worth stands at an estimated $100 thousand, as reported by Celebrity Net Worth. His journey in the world of hip-hop and his impact as an artist reveals a story beyond monetary figures.

Musical Journey: Contribution To Hip-Hop

DETROIT, MI – SEPTEMBER 04: Beanie Sigel performs on stage at Chene Park on September 4, 2015 in Detroit, Michigan. (Photo by Monica Morgan/WireImage)

Beanie Sigel, born Dwight Grant, emerged onto the rap scene in the late 1990s and quickly gained recognition for his raw lyricism and storytelling ability. Signed to Roc-A-Fella Records, Sigel released his debut album, The Truth, which received critical acclaim for its authenticity and gritty narratives.

His subsequent albums, including The Reason and The B. Coming, showcased his lyrical prowess and cemented his reputation as a respected figure in the rap community. Collaborations with fellow artists further solidified Sigel’s influence, contributing to the evolving landscape of hip-hop music.

Financial Landscape: Challenges & Triumphs

NEW YORK, NEW YORK – AUGUST 05: Beanie Sigel attends Rock The Bells Festival at Forest Hills Stadium on August 05, 2023 in New York City. (Photo by Johnny Nunez/WireImage)

While Beanie Sigel has undoubtedly made significant contributions to the rap genre, his reported net worth of $100 thousand indicates a contrast between artistic acclaim and financial success. Despite his talent and impact on the rap scene, various legal issues and financial setbacks have influenced his current financial standing.

Legal troubles and disputes with record labels have impacted Sigel’s ability to fully capitalize on his musical achievements. Despite challenges, he continues to maintain a devoted fan base and remains active in the music industry, striving to overcome obstacles and further his career.

Legacy And Impact In Hip-Hop

Beanie Sigel’s legacy extends beyond his net worth. Critics revere his authentic storytelling and contributions to the rap genre. He undoubtedly inspired artists with his raw lyricism and street narratives. His influence on East Coast hip-hop culture remains palpable, leaving an indelible mark on the industry.

Despite financial constraints, Sigel’s impact on hip-hop cannot be overlooked. His ability to capture the realities of his upbringing and translate them into compelling music solidifies his place in the annals of rap history. He continues to be respected for his contributions, despite financial challenges.

In conclusion, Beanie Sigel’s net worth of $100 thousand may not reflect the depth of his impact on the rap genre. His contributions to hip-hop culture, marked by raw authenticity and storytelling, position him as a significant figure within the industry. While facing financial obstacles, Sigel’s legacy as a rapper remains an integral part of the evolution of hip-hop, showcasing the resilience and enduring influence of his artistry.

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Dame Dash Claims He’s “Retaking” Roc-A-Fella Amid JAY-Z Dispute

December 26, 2023 by newhiphopnews

Dame Dash says that he will be regaining control of Roc-A-Fella Records after his co-founders, JAY-Z and Kareem “Biggs” Burke, ousted him from the label. He discussed his status with the company during an interview with The GAUDS Show, last week.

“I’m taking back Roc-A-Fella; I don’t need no paperwork,” he said. “Roc-A-Fella never dies. It’s not dead; I just fuckin’ took a vacation. I’m the CEO of Roc-A-Fella Inc. and JAY-Z knows it, and so does Biggs. Not Roc-A-Fella LLC — we sold that; Roc-A-Fella Inc. — I’m still the CEO.”

Dame Dash & JAY-Z At The Launch Of The 40/40 Sports Bar

Damon Dash and Jay-Z during The Launch of Jay Z’s 40/40 Club – Inside Party at 40/40 Sports Bar in New York City, New York, United States. (Photo by Johnny Nunez/WireImage)

JAY-Z and Biggs previously sued Dame after he allegedly attempted to sell Hov’s 1996 debut, Reasonable Doubt, on an NFT auction. The two sides eventually reached a settlement and agreed no shareholder holds a direct ownership interest in the album. “They took me to court saying I tried to sell all their interests, knowing I didn’t,” he explained. “I was only trying to sell mine, but they did that to fuck my sale up […] We don’t go to court. You call me, and then you wanna lie on me? That was last year. I’m bothered about it.”

Dame Dash Discusses Rock-A-Fella Situation

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Dame has maintained that he’s willing to talk with JAY-Z in person, but claims the business mogul won’t meet with him. Speaking on The CEO Show in October, he said: “I always said as a man that we could always talk it up. Men should always be able to talk things up, but I’m really happy with my life right now. I know the world would love to see it and I’m down for it. If we could create something that inspires me, period. I don’t want to be f**king running on the stage dancing around. I’m too chubby for that right now.” Be on the lookout for further updates on Dame Dash and Roc-A-Fella on HotNewHipHop.

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Dame Dash Says There Wouldn’t Be A “Rapping Jay-Z” Without Him

December 21, 2023 by newhiphopnews

Jay-Z might be hip-hop’s first billionaire, although Dame Dash is doubling down on the notion that it wouldn’t have happened without his help. As you know, Jay and Dame Dash’s history goes way back and the latter undoubtedly played a major role in shaping the former’s early career. When no label wanted to sign Jay, Dash helped establish the empire that we now know as Roc-A-Fella and the rest is history. Although Jay became a billionaire after Roc-A-Fella’s split, you can’t erase Dame Dash from history.

On his appearance on The Gauds Show, Dash detailed all of the steps he had to take to even get Jay-Z heard in the first place. “I shopped Jay-Z to every single label,” he said. “Kevin Liles, all of them. Every single one of them and they all said no. And he becomes one of the greatest rappers alive. Those are the same people that said he was too old, rapped too fast, and dressed corny.” Ultimately, Dash’s persistence and drive helped create history in hip-hop.

Dame Dash Speaks On Jay-Z’s Success

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Dash explained that through this experience, he learned to trust his gut. Since many of these executives couldn’t see Jay-Z’s potential, he, Dame, and Biggs Burke went out to create their label. Ultimately, it defined an era in music and became a playbook for independence in hip-hop. “If I listened to them, there would be no Jay-Z. He wasn’t gon’ do it,” Dame said. “There would be no rapping Jay-Z if it wasn’t for me 100,000 percent. He wasn’t gonna do what I did to make sure he got heard. He was hustling.”

While Dame can’t necessarily take credit for Jay-Z’s bars, he made it clear that his business acumen helped them break down the doors. “He wasn’t gonna put a record out by himself and create a record company,” he added. “He could rap but he didn’t know business. I taught him business. How to put a record out yourself. How to leverage your celebrity and put it on a product yourself.” Check out the clip above.

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Beanie Sigel Net Worth 2023: What Is The Rapper Worth?

December 5, 2023 by newhiphopnews

Beanie Sigel, known for his contributions to the rap industry, has had a notable career in music, although his financial worth stands at an estimated $100 thousand, as reported by Celebrity Net Worth. His journey in the world of hip-hop and his impact as an artist reveals a story beyond monetary figures.

Musical Journey: Contribution To Hip-Hop

Financial Landscape: Challenges & Triumphs

Legacy And Impact In Hip-Hop

The post Beanie Sigel Net Worth 2023: What Is The Rapper Worth? appeared first on HotNewHipHop.

Memphis Bleek Reflects On Jay-Z’s Wild Behavior In His Younger Years

December 5, 2023 by newhiphopnews

Jay-Z is seen by many as a mature and laid-back rap veteran. He rarely makes public comments or appearances but when he does he’s always effortlessly cool and composed. His most recent studio album, 2017’s 4:44 dives deep on lessons he’s learned in his life and how he reached the point of maturity he’s arrived at. But for those familiar with his backstory, he wasn’t always this focused. Very few are as familiar as former Roc-A-Fella signee Memphis Bleek who told some vintage Hov stories in a recent SiriusXM interview.

“Y’all young n*ggas ain’t really been through nothing. Until you turned the club upside down and they lock you in the club and now you have to pay to leave, you ain’t really turned up, he begins the discussion. He details the full story of Jay-Z having to pay a hefty price after wrecking a Miami club. “We turned this club up in Miami upside down,” he explained. “They made us pay 50 grand to leave. Hov, he had to pay 50 racks. Police and everything, they extorted the f*ck out of us. We cracked heads, foreheads, faces. We was going crazy. They locked the doors, we had to pay to get out,” his story concludes. Check out the interview clip below.

Memphis Bleek’s Newest Jay-Z Story

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Bleek is also well aware of Jay-Z’s current reputation. “They see billionaire dread Hov, they think my man ain’t got them hands. Hov will put knuckles on you. He’ll put them hard bottoms on your a*s too,” Bleek explains. “All that cool, laid-back Beyoncé Hov, I love it, but back then, he was on some sh*t,” the segment concludes.

Jay-Z popped up last week alongside Beyonce at a premiere event for her Renaissance Tour film. Hov was present for numerous shows along the summer tour and videos of him in the crowd circulated online following nearly every performance. What do you think of Memphis Bleek’s story about Jay-Z having to pay just to get out of a Miami club? Let us know in the comment section below.

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