Steve Stoute is talking about what caused the downfall of Jay-Z and Dame Dash's friendship and working relationship—and Dame has something to say about it.
On the latest episode of Club Shay Shay, the music executive recalled how Dame, now 52, and Hov, 54, couldn't keep Roc-A-Fella Records afloat. According to Stoute, Dame "blew it," and it's incredible how he did that, especially when he had Jay-Z, "the most important artist of his generation," in his corner. Host Shannon Sharpe specifically asked how "that relationship that was so good sour so fast."
"Dame's antics, were just, it became—people over time, you mature," 53-year-old Stoute said. "It's like you have friends at 16, but by the time you turn 19, they were still doing the same shit when you were 16. ... You start spending less and less time with them because of that."
He continued, "It's like one of those things where Dame wouldn't change. The way he spoke to people, the way he treated people. ... He was angry because he had a strong perspective about his business philosophy."
Stoute added that Dame would get upset if any of his employees went to meet with other executives or if he went away and returned to find his various businesses in disarray. According to Stoute, Dame didn't have the luxury to leave whenever he wanted and assume his businesses were good, when in reality they weren't run efficiently.
"While he was 'building businesses,' which partly he was, he would go off all around the world with cameras and girls and all kinds of crazy shit, and then come back flipping out on everybody. ... Bro, you didn't build a business that was so operationally tight that you could just go away and come back, and shit would just be the same and all that shit," Stoute recalled.
He added, "Jay grew up. You know, Jay wanted more, I think Jay seen Dame's ceiling. I mean, I think that's really what it was. ... He wanted more, and everybody wanted more."
Stoute said Dame is "very very smart, very talented" and "far from stupid," but with an "ego through the roof, so there was no working with him."
Posting a clip of the interview on Instagram, Dame told his 1.3 million followers, "This is the reason I had to smack the shit out of @stevestoute a couple years ago…because he’s always speaking on other men’s business. good thing I’ve evolved."
Together, Jay-Z and Dame Dash revolutionized the hip-hop scene with Roc-A-Fella Records, which launched in 1996. The duo, alongside Kareem "Biggs" Burke, ran a successful label that housed the likes of Kanye West, Beanie Sigel, Memphis Bleek, the Diplomats, and more.
Things fell apart by 2004 when Roc-A-Fella was sold to Def Jam and Jay-Z was hired as president of the latter. Dame wasn't a part of the deal and felt slighted by his former business partner. Since then, Jay and Dame have been embedded in legal issues over the rights to Roc-A-Fella.
Most recently, Dame was ordered to sell his last remaining stake in Roc-A-Fella to clear a $823,000 debt he recently incurred. Jay-Z and Burke reportedly opposed the move, stating any major sell-off needed to be approved by the board of directors, but a judge claimed Dash's shares were considered personal property.
See Steve Stoute's full episode of Club Shay Shay below.
