Will Dr. Dre join the billion-dollar club soon?
Aside from being an established rapper, Dr. Dre also has a successful career as a record producer and founder of several companies, including Aftermath Entertainment and Beats Electronics.
He has not released an album since his 2015 "Compton," but the rapper continues to make a buzz with his former releases.
Most recently, Variety confirmed Dr. Dre might close his $250 million deal with Universal Music and Shamrock soon. Unnamed sources shared that the 57-year-old "I Need a Doctor" rapper pitched a multi-million deal and started selling his music income streams and other assets to Shamrock Holdings and Universal Music Group in two transactions.
According to the publication, the talks are nearly closed after opening the deal weeks ago.
Attorney Peter Paterno of King, Holmes, Paterno & Soriano reportedly shopped the deal, per Billboard.
The assets in question include Dr. Dre's royalties from his two solo albums. It also covers his writer's share, producer royalties, and artist royalties. Billboard's sources said the assets cover 75 to 90 percent of the total package, which might be acquired by Shamrock. UMG, on the other hand, eyes the remaining 10 percent to 25 percent.
Dr. Dre's representatives have not commented on the development yet.
Dr. Dre's Net Worth 2023
As of January 2023, Dr. Dre's net worth has already reached the $500 million mark. According to Celebrity Net Worth and Wealth Gorilla, the amount makes him the fourth richest rapper in the world and one of the most successful entertainers in the past three decades.
Dr. Dre notably sold hundreds of millions of albums and singles. He also helped Eminem and 50 Cent dominate the hip-hop industry through his Aftermath Entertainment.
As a rapper, he released 42 singles, 21 music videos, three studio albums, two compilation albums, and one soundtrack album.
Outside his career as a rapper, he and Jimmy Iovine co-created the electronics company, Beats By Dre. In 2014, Apple acquired the company for $3 billion. As he and Iovine owned 25 percent of the company, they both earned $750 million pre-tax after securing the deal.
It made his net worth reach $780 million. However, it went down after his divorce from Nicole Young in June 2020.
Still, he still reportedly has a total value of $80 million in real estate.
© 2024 MusicTimes.com All rights reserved. Do not reproduce without permission.
