Dr.Dre officially becomes the FIRST billionaire in hip hop (only 10 black billionaires in the world)
- Thread starter MaNu Minu
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lawd.....they should have NEVER let you n1ggas from the MIDWEST have access to WI-FI
@ CNN saying the same shyt I said, a day later, and STILL getting the shyt wrong(red text)
"
Dre -- whose given name is Andre Young -- founded Beats along with music producer Jimmy Iovine. According to various reports, he holds a stake of between 20% and 25% following a $500 million investment last year from private equity firm The Carlyle Group (CG), which was said to have valued the company at around $1 billion.
Forbespegged Dr. Dre's net worth last month at $550 million. Let's assume he does own 25% of Beats. That stake would have been worth $250 million before the Apple deal chatter, leaving Dre with about $300 million from other investments and ventures, such as his music career.
If Apple does purchase Beats for $3.2 billion, then Dre's presumed 25% stake would be worth $800 million. Add that to his $300 million in non-Beats assets and the rapper would be worth $1.1 billion.
Related: Is Beats a mistake for Apple? No diggity!
But that's before taxes.
Who loses if Apple buys Beats
Robert Frank at CNBC says Dre could have to pay around a third of his take from the Apple deal in state and local taxes, which would likely push him back below the $1 billion mark.
Still, even if Dr. Dre doesn't become hip hop's first billionaire following the deal, he'll be awfully close. His closest competition, producer and entrepreneur Sean "Diddy" Combs, was worth $700 million as of last month, according to Forbes. Jay-Z's net worth was estimated at $520 million. "
Check the red text
CNN saying Dre had $300mil WITHOUT beats...... FALSE.... its like $150 mil, $200 mil TOPPPPSSSSSSS......
He was worth $125mil in 2011... He didn't make more money in 3 years than he has his ENTIRE CAREER in music (dating back to death row days / Eminem and 50 Cent's primes
Dre money without beats - Not a penny more than $200mil... but Really, $150 mil....
And his stake is NOT 25% .... It's 19.5% at the ABSOLUTE MOST and 16% realistically:
Carlyle: 47% (fact)
Universal Music: 14% (fact)
Some other dude: likely 7%, but I won't even COUNT IT...
61% of the company is FACTUALLY accounted for.... Leaving dre / Jimmy with 39% to split.... Lets PRETEND Dre is getting half (yea right.)... That's 19.5 For each of them....
3.2billion x 19.5% = 624mil
624 mil x 24% in taxes (MINIMUM... COULD BE 33%)... = 474mil
474 + 200 Mil (before beats) = 674 MIL TOPS.... AND THIS IS THE *NICE VERSION*
tHANKS FOR THE BRAIN GOD.. HOW COULD I EVER REPAY YOU!!!!!
#GodMode .... #Gpoy2014 ... #CnnLieForbesLieREALLYdont ... #TheBLackEinstein .... #Unnnnnnhhhhhhh
This looks like a struggle house in a struggle neighborhood breh
you're not too bright
I'm Billy FUCO!!
Banned
.......Who the fukk is this?
nikka, you sure you got the right poster?
Link me to the post/thread where we had problems, because I honestly don't know who you are or what you talkin' about
newworldafro
DeeperThanRapBiggerThanHH
Forbes to Dr. Dre -- Not So Fast ... You're No Billionaire | TMZ.com
Forbes to Dr. Dre
Not So Fast ...
You're No Billionaire
5/9/2014 1:31 PM PDT BY TMZ STAFF
Dr. Dre better stop counting his chickens before they hatch -- calling himself the "first billionaire in hip hop" -- a rep for Forbes tells TMZ, 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 tells us ... 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 state and federal taxes, he's left with $480 MIL, and when you add in Dre's other assets, that's how Forbes now comes up with $800 MIL. Close but no cigar.
The editor says, "Not quite enough to debut on the Forbes 400 but plenty for bragging rights.”
In the words of Ice Cube ... check yo self before you wrickity-wreck yo self.
Forbes to Dr. Dre
Not So Fast ...
You're No Billionaire
5/9/2014 1:31 PM PDT BY TMZ STAFF
Dr. Dre better stop counting his chickens before they hatch -- calling himself the "first billionaire in hip hop" -- a rep for Forbes tells TMZ, 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 tells us ... 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 state and federal taxes, he's left with $480 MIL, and when you add in Dre's other assets, that's how Forbes now comes up with $800 MIL. Close but no cigar.
The editor says, "Not quite enough to debut on the Forbes 400 but plenty for bragging rights.”
In the words of Ice Cube ... check yo self before you wrickity-wreck yo self.
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Reality Check
Keepin' it 100
Kudos to Dre on this.
And
at some of the people breaking down the amount down to the cent to discredit him over 30+ pages. So what he might not be a billionaire? Dude is rich as hell, richer than anyone criticizing him in this thread that's for damn sure.
And
at some of the people breaking down the amount down to the cent to discredit him over 30+ pages. So what he might not be a billionaire? Dude is rich as hell, richer than anyone criticizing him in this thread that's for damn sure.
Who the fukk is this?
nikka, you sure you got the right poster?
Link me to the post/thread where we had problems, because I honestly don't know who you are or what you talkin' about
Camile.Bidan
Banned
First off. Owning shares and selling them involves Capital Gains taxes, Not income taxes. Dre wouldn't have paid 50% on those capital gains. He would have paid 20%.
Second off. Value at 2011 says nothing about the value in 2014 nor does it say anything about the value that Apple placed on the company when it paid for the stock.
Best case scenario. Dre owns 50% and pays 20% long-term Gains.
1.6 billion *.80 = 1.280 billion.
There are usually transaction costs, but I don't know who foot that bill.
Second off. Value at 2011 says nothing about the value in 2014 nor does it say anything about the value that Apple placed on the company when it paid for the stock.
Best case scenario. Dre owns 50% and pays 20% long-term Gains.
1.6 billion *.80 = 1.280 billion.
There are usually transaction costs, but I don't know who foot that bill.
TELL ME YA CHEESIN FAM?
I walk around a little edgy already
nikkas is furious
lol
lol
Artificial Intelligence
Not Allen Iverson
.......................
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joeychizzle
光復香港，時代革命
read it properly. after taxes he gets 480 plus current assets, TOTALLING 800."so the max he'd make off the sale is $800 MIL"
cause dre has $0 in his bank account right now before the deal goes through..
