Close but no $1 billion cigar. Three weeks
after Dr. Dre proclaimed himself Hip Hop’s
first billinoaire in a cell phone video with
Tyrese, his wealth is being reported at over
$200 million short following the $3 billion
sale of Beats by Dre.
Speculation of Dr. Dre becoming Hip Hop’s
first billionaire artist/producer surfaced
once rumors of the eventual Beats by Dre
sale surfaced less than a month ago.
However, Billionaire.com reports Dr. Dre’s
overall networth at being at $790 million.
The details of the sale were not made
public, however Forbes speculated a similar
wealth total for Dre and assumed Dr. Dre’s
payout would be half-cash and the rest in
Apple stocks. Since Apple CEO Tim Cook has
revealed that both Dre and Iovine will have
roles at Apple, stock options exchange seems
likely. In addition, Dr. Dre and Jimmy
Ionvine only own 25% each of Beats and
after taxes, the $3 billion payout turns Dre’s
payout to roughly $240 million.
Source: AllHipHop.com
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