Entertainment, Film and Music
Dr Dre’s $3billion Apple deal Won’t Make him Hip Hop’s First Billionaire!
And this is according to Forbes, cos TMZ reports a rep for Forbes told them that once the $3.2 Billion Apple deal is finalized, the rap mogul will NOT hit the billion dollar mark.
Forbes Assistant Managing Editor for Wealth says they've done the math, and after state and federal taxes, Dre will be worth in the neighborhood of $800 million.
It appears Dre only owns 25% of the company, so the max he'd make off the sale is $800 MIL. After
Dr. Dre could be days away from being the first rapper turned BILLIONAIRE … thanks to a mega-deal for Apple to snatch up his Beats Electronics brand.
Apple will reportedly buy Beats for a whopping $3.2 BILLION — and since Dre and Interscope honcho Jimmy lovine created the brand … it's a safe bet they will walk away with a huge chunk of that cash.
Dre and Jimmy started the brand back in 2008 with headphones — but now they're also making bank off speakers, car audio systems, and a streaming service.
The deal could close next week … and would be Apple's biggest acquisition ever.
Dre came in #2 on Forbes' most recent list of hip hop's wealthiest artists — with a net worth of $550 million … while Diddy was #1 at $700 million.
The Apple deal — first reported by Variety — could easily push the Doc to the top of that list. This would also explain his purchase of Tom Brady's mansion.
Keep their heads ringing.