NO. 5 - THE RICHEST PEOPLE IN HIP HOP

DAMON DASH
Dollar Status - $200 Million (R1.4 billion)
Portfolio – Team Roc clothing, Pro-Keds sneakers, Dash Films, Armadale Vodka, Plumm Nightclub, America magazine

Even at the young age of 19, the enterprising Damon Dash was already doing business and co-founded the artist management company Dash Entertainment with his cousin.

Roc-A-Fella Records, that gave the likes of Beanie Sigel, Kanye West and Memphis Bleek to the world, was also co-founded by the gregarious Dash but alongside former best buddy Jay-Z and Kareem ‘Biggs” Burke.

He was CEO of the various Roc-A-Fella divisions (Film, Clothing line and Records). The music producer was smart and confident enough to believe in his impending success to reject a “nigga deal” from Def Jam and instead secure the rights to half of the master tapes of all recordings.

The same goes for the Rocawear clothing label, instead of licensing the name to a manufacturer, he chose to go into a 50/50 venture with a manufacturer. After all that hard work, he ultimately sold his stake in the fledging clothing label to Jay-Z and partners for $30 million, effectively ending a lucrative 10 year business relationship amongst the former friends. The following year he sold his shares in his record label to Island Def Jam Records for a sweet $10 million.

Since then he has established Damon Dash Music Group, Dash Films, America Magazine, Armadale Vodka, Dash Management, Tiret Watches, the Rachel Roy (wife) clothing line, Pro-Keds and Team Roc. But recent reports in the New York Post have shed light on some less than dashing details on Team Roc and his designer wife’s clothing line, Rachel Roy; apparently they have failed to turn a profit since inception.

He also has investments in the New York nightclub Plumm and Dash/Dibella Boxing.

Considering how intensely competitive the hip hop world is becoming it remains to be seen if Dame will keep on dashing all the way to the bank.