This week, famed entrepreneur and artist Damon Dash announced that he is auctioning his 1/3 interest in Roc-a-Fella Inc., which owns Reasonable Doubt, Jay-Z’s first album. The bid starts at $10,000,000 and a portion of the final proceeds will benefit two non-profit organizations, one of which is The Mentoring Trust Foundation (TMTF), founded by Indiana State Senator Eddie Melton.
TMTF invests in the personal, academic, and leadership development of Gary, IN youth by providing one-on-one mentoring, group mentoring, and wraparound support services. Melton and Dash are long-time friends who both seek to positively impact the lives of young people.
“I am honored and humbled that Dame has agreed to support our mentoring program as a way to make a difference,” said Melton. “His commitment further validates the need for programs designed for young people to receive guidance from positive influences as they transition to adulthood.”
“Reasonable Doubt’’ was the first record to come out of Roc-a-Fella. It set the trajectory for the future of Roc-A-Fella. It represented everything we were doing at that moment,” said Dash. “Before Roc-A-Fella, we started independence and that was the start of everything we’re doing, all of the different people from Roc-a-Fella, what they turned out to be, I’m proud of that.”
While the amount of the donation will be determined upon the final selling price, Melton has already begun implementing the program with Dash through a grant from the Geminus Corporation.
“We want to expose the youth of Gary to experiences outside of their regular environments,” said Melton. “Ultimately, the goal is to plant seeds that will lead to the individual paths of success.”
For information about the Roc-a-Fella Inc. auction, visit https://www.dashnftgallery.io/rocafellanft