LEE DANIELS WILL PAY DAMON DASH HIS $2M: ‘IT’S THE RIGHT THING TO DO’

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*It may have taken being exposed on video and shamed in front of the world into doing it, but Lee Daniels says he’ll be paying Damon “Dame” Dash back the $2 million he got from him. He also says it’s a “shame” it took him so long.

The publicly embarrassed director told TMZ that he’s been thinking about what Dash did for him, and realizes he — more than any Hollywood studio — helped him launch his career.

Daniels admits it’s a shame it took Dame accosting him in the middle of a Diana Ross concert for him to realize it, but now wants to do “the right thing.”

TMZ is also reporting that Dame Dash has accepted Daniels’ apology, saying …

“We’re good bro…appreciate the honesty…time to move forward let’s forget the bubble gum sh*t and get the money.”

Meanwhile, Daniels finally told his side of the story when he sat down for an episode of “Raq Rants” … telling Raquel,

“This black man gave me money when nobody … would give me money. He did it,” Daniels told the host, Raquel.

He made it clear Dame’s $2 million was an investment, not a loan, but because the 2nd movie — “Shadowboxer” — didn’t make money, Dame didn’t get repaid.

As we reported earlier, Dash had filed a lawsuit against Daniels for $5 mil — the $2 mil plus interest — however, Lee Daniels 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.”

In the interview with “Raq,” he had more to say about their concert altercation too. Check the “Raq Rants” page to see the full interview.

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