Jay-Z will eventually own Dame Dash’s stake in Roc-A-Fella Records after seven years, albeit at auction.
Jay-Z will get reasonably questionable stock in seven years
Jay-Z’s lawyers have filed new documents claiming to own the master recordings of Hov’s classic 1996 album Reasonable Doubt, according to a report published by TMZ on Saturday (August 10). Meanwhile, Dame’s 33% stake in Roc-A-Fella Records will be auctioned at the end of August.
Roc-A-Fella currently owns the rights to the album and all of its songs. However, Jay-Z’s attorneys have filed notice that the rights will return to their original owner, Shawn Carter (aka Jay-Z), in 2031.
This means that whoever buys Dame’s shares at the auction will have ownership for seven years before Hov owns the shares permanently.
As TMZ suggests, the move isn’t personal, but business. Legally speaking, the copyright will revert to Jay-Z 35 years after the album’s release. Lawyers for Roc Nation’s founders simply initiated the necessary paperwork to make it official.
Read more: Here’s the crazy story of how Jay-Z recorded his “Talk Up” verse
Dame Dash’s Roc-A-Fella Share Set Up for Auction
Dame Dash’s 33.3% stake in Roc-A-Fella Records, the label she co-founded with Jay-Z and Kareem “Biggs” Burke, will be auctioned by U.S. Marshals in New York City on August 29, according to documents obtained by XXL. The minimum bid for the shares is $1.2 million, and bidders must be able to deposit $240,000 at the time of sale.
The sale was the result of Dam’s court defeat. Film director Josh Webber sued Dame for copyright infringement back in 2019 and won more than $800,000 in a civil judgment against the former music mogul. The lawsuit centers on the 2019 film “Dear Frank,” with Weber alleging that Dahm continued to promote the film as if it was entirely his own creation after being pulled from production.
Both Jay-Z and Burke, who owns the remaining two-thirds of Roc-A-Fella, oppose the sale, according to documents obtained by XXL.
