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Dr. Dre could become 1st hip-hop billionaire with Beats sale

Dr. Dre - Beats Cover

For years, the race to become hip-hop’s first billionaire mogul has always been led by front-runners Diddy and Jay Z. But recently Dr. Dre has been steadily ascending the ranks, and according to a new report, he’s poised to hit the billion-dollar mark sooner than anyone thought with a deal to sell his Beats by Dr. Dre line to Apple.

According to Financial Times, via Forbes, Apple is in talks with Dr. Dre and his business partner, record executive Jimmy Iovine, to buy their Beats brand of electronics for $3.2 billion, the biggest purchase Apple has ever made.

Since Dre and Iovine started the brand back in 2008, Beats has expanded from just headphones to car audio systems, speakers, and even a streaming service, and Forbes has reported that the Beats brand is worth $2 billion.

Dre’s current stake in Beats stands at about 20-25 percent, and if he sells the brand for nearly double its current valuation, after dealing with taxes, his net worth stands to jump from $550 million to $800 million, which would make him the richest man in hip-hop.

The Beats deal with Apple is still not yet concrete, but if it does go through, Dre will certainly have beat out hip-hop’s other cash kings by a large margin. Check out the other richest people in hip-hop after the cut. –nicholas robinson

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3 Comments

  1. Encourehonoree on May 9, 2014 at 11:36 am

    I hope he helps the black community with his money. He seems to be a self hater no caring about his African-American roots..

    • Shady Jack Jones on May 12, 2014 at 1:45 pm

      “Help the black community”??? Maaan, let this man make his money and. Do whatever he wants with it! How about the “black community” make real effort to help themselves Playa. Stop all that petty hate, all that black on black viciousness, all that self inflicted ignorance. We all have a shot @ gettin’ it baby. But let’s put the mirror up first!!

  2. sue on May 9, 2014 at 6:31 pm

    I hope he does make it there first. It will shut up all the rappers that he helped that trun there back on him when he was out of the public eye and talked about him. Now where are all of them compare to where he is now. Thats why he seems like a self hater, because back in the day he was there helping and got back stabbed too many times.