From strictly legal and financial standpoints, “Empire” director Lee Daniels says he does not owe Damon Dash a single cent.
But Daniels going to give Dash the $2 million he invested in his movies because he says without Dash, Daniels may not have gone on to become the meteorically-rising Hollywood power player he is.
Dash and Daniels made international headlines this past week when Dash, in a fit of rage and filled with righteous indignation, was filmed going volcanic on Daniels at a Diana Ross concert because he believes the director never tried to repay Dash for being the only person who believed in him enough to invest millions in his career.
Therefore, Daniels said in an interview with TMZ, he’s going to give back $2M to Dash as a gesture of gratitude — and to help Dash in his time of need because Dash helped him in his when he badly needed startup money for his films that ignited his spectacular, award-winning career.
The acclaimed director told TMZ that after Dash put him on full-furnace blast, he sat alone and pondered hard over the situation. He quickly came to the realization that Dash helped him more in his career than any Hollywood studio ever has.
Moreover, Lee was contrite and humbly admits that it was a shame that it took a public shaming — and done as the legendary Diana Ross was singing her timeless song “Reach Out and Touch Someone,” no less — for Daniels to come to the understanding that he needs to give back to the man who gave to him.
Now, Daniels says, he wants to do “the right thing.”
Lee finally revealed his side of the story during an episode of TMZ’s “Raq Rants,” saying “this Black man gave me money when nobody would give me money. He did it.”
To be sure, Daniels made it very clear that Dame’s $2 million was an investment, not a loan. And because the movie — Shadowboxer — failed to turn a profit, Dame didn’t get repaid on his investment. Therefore, legally, Daniels owes Dash nothing.
Dash, as rolling out has already reported, has sued Daniels for $5M, which is the $2M seed money plus interest. However, Lee says, “We’re gonna squash it — and I feel good about it, he needs it right now and I’m happy to help him, ’cause he was helping me.”
What do you make of this situation? Do you support Daniels’ desire to repay Dash?
