Dashed: Broke Hip Hop Mogul Dumped by Wife | NBC New York

Dashed: Broke Hip Hop Mogul Dumped by Wife

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    The co-founder of Rocawear and Roc-A-Fella Records is now flat broke -- and wife Rachel Roy wants to split.

    Damon Dash's got 99 problems -- and now his wife is one.

    The wife of the cash-strapped mogul dumped the blingless former industry bigwig as Dash faces mounting debt and a litany of lawsuits that threaten his media empire, the New York Daily Newsreported.

    Larry Busacca/Getty Images/Paramount Pictures

    The co-founder of Rocawear and Roc-A-Fella Records who was sipping champagne on a yacht and emptying the bottle on bikini-clad babes in Jay-Z's "Big Pimpin'" music video is now flat broke -- and wife Rachel Roy wants to split, according to the News.

    "He's broke, he got nothing left," a source told the paper.

    Dash and Roy, a fashion designer, were married in Mexico in 2005 and have two daughters together. The pair met while Roy was working at Rocawear.

    Dash once presided over a hip hop empire valued at $50 million and he sold his stake in Rocawear to Jay-Z for $20 million in 2005.

    The fallen media mogul now owes $2 million in state taxes, his two Tribeca condos are facing foreclosure and a Manhattan judge ordered the city to seize his Chevrolet Tahoe SUV last year because he didn't make his $714.99 monthly payment, the paper reported. 

    The divorce papers are just the latest in a litany of legal setbacks for Dash, who has been slapped with suits from law firms and landlords for not paying bills.

    Dash produced the Off-Broadway show "Hip-Hop Monologues" about the life of rapper Jim Jones, which is slated to resume tonight in Manhattan.