Dame Dash's financial woes are worsening.
In a filing made on Thursday (Sept. 4) in Florida, reviewed by Complex, the Roc-A-Fella Records co-founder filed for Chapter 7 bankruptcy.
The former record executive says he's in over $25 million of debt with only $4,350 of personal assets to his name.
The debts listed in the filing include $5.79 owed to Los Angeles County, $3.5 million to the New Jersey division of taxation, over $9.6 million to the state of New York's tax department, and over $159,000 to his ex-wife, Rachel Roy.
Dash stated in the filing that he doesn't own any buildings or residences, doesn't have a personal vehicle, and has no electronics beyond a cellphone valued at $500. Other assets listed in the filing include two firearms valued at $750 overall, $500 worth of clothing, $2,500 of jewelry, and $100 in cash.
Elsewhere in the filing, Dash said that he's not owed any tax refunds and gets no family support but claimed that he's potentially owed money by Roc-A-Fella Records co-founder Kareem "Biggs" Burke.
It's no secret that Dame Dash has struggled financially. Last year, he spoke candidly about his situation and offered an explanation of how he lost all of his wealth.
"Somebody asked me how I got so broke. Investing in my dreams," Dame explained in a video shared on social media. "You know, when you’re investing in your dreams and you dream big, you’re always gonna be broke … or have a lot of shit. But I don’t have no money for nobody else. That's what you call broke. But that’s what it is."
He was ordered to sell his remaining shares in Roc-A-Fella Records last year, a move that Jay-Z and Biggs reportedly disapproved of, to clear a $823,000 debt that he incurred in a civil case filed by film producer Josh Webber.