prophecypro
Hollywood North
I thought Dre was the first billionaire after the Beats sale to Apple?
"I became Hip Hop's first Billionaire" - Diddy (Clap for him #BlackExcellence)
- Thread starter ReasonableMatic
- Start date
oh yeah
please do research - shortly after tyrese opened his big mouth about the apple deal for beats, apple took the deal off the table to renegotiate - which means dr dre got screwed out of additional money.
the craziest shyt was even after this came out - puff was still remain ahead of dre
the apple deal leap him over jay for 2nd place
https://www.google.com/amp/www.forb...ps-wealthiest-artists-2016/amp/?client=safari
i know right - which keeps me wondering what type of diabolical shyt is Puff doing thats keeping him in the front seat - and his shyt grows continuously each year?
the craziest shyt was even after this came out - puff was still remain ahead of dre
the apple deal leap him over jay for 2nd place
https://www.google.com/amp/www.forb...ps-wealthiest-artists-2016/amp/?client=safari
Ignore the python then listen to the cobra, brehs.
i know right - which keeps me wondering what type of diabolical shyt is Puff doing thats keeping him in the front seat - and his shyt grows continuously each year?
his biz - is off dem charts accordingly to Forbes he ranked overall # 1 for 2016 (top 5)
- puff - 62mill
- jay - 53.5mill
- dre - 41mill
- drake - 38.5mill
- wiz - 24mill
Why Dr. Dre Isn't A Billionaire Yet
Dr. Dre sold his eponymous headphone line to Apple for $3 billion, but he isn't yet a billionaire. Photo by Jonathan Ferrey / Wireimage.
Zack O'Malley Greenburg ,
FORBES STAFF
I cover the business of music, media & entertainment.
Dr. Dre ranked second on last year’s Forbes Five list of hip-hop’s wealthiest artists with a net worth of $550 million. Yet a year later, after selling Beats to Apple AAPL -0.16% for $3 billion, his fortune sits at $700 million in this year’s accounting.
To the casual observer, the math may not seem to make sense—particularly given that Dr. Dre anointed himself hip-hop’s first billionaire last May—so, in the interest of transparency and understanding, let’s take a closer look, starting at the very beginning.
Dr. Dre and Jimmy Iovine founded Beats in 2008 after the former suggested they start a sneaker line. “[Forget] sneakers, let’s make speakers!” replied Iovine, as the legend goes. It marked the beginning of the most lucrative collaboration between the two longtime friends.
Though the duo cofounded Beats, they would eventually give up large chunks of equity to a combination of different players involved in the company. Early endorsers of Beats received small stakes (LeBron James is widely believed to have received one); a double-digit percentage went to Universal Music Group, which allowed Iovine to insert Beats headphones into just about every Interscope music video (and took home about $400 million on the sale).
ADVERTISING
A series of major investments soon added vast sums to Iovine and Dre’s coffers--and the valuation of their company. In 2011, HTC HTCCY +% paid $300 million for a 51% stake; the duo and their growing list of co-investors eventually bought that back, then sold an undisclosed stake in the company to Carlyle Group for $500 million in 2013.
By 2014, Dr. Dre’s stake had been diluted to about 25% and was worth roughly $400 million on paper, by our estimates. That number made up the bulk of his fortune, measured at $550 million on last year’s Forbes Five list.
When the Apple deal was initially reported in May, it seemed Beats was going to sell for $3.2 billion, or about twice its estimated value. On paper, that meant Dr. Dre’s stake was suddenly worth $800 million; indeed, that would have put him a rounding error away from being a billionaire.
But the deal closed at an even $3 billion in cash, and then Uncle Sam took his cut—an estimated 33%—leaving Dre with a $500 million payout for his Beats stake, only $100 million more than we’d figured it was worth before the deal.
That total, along with other earnings and proceeds from the sale of his Hollywood Hills home, lifted his total to $700 million this year. Dre has been celebrating in appropriately lavish fashion, buying Tom Brady and Gisele Bundchen’s Brentwood spread for $40 million after the Beats deal was announced.
Though Dre still trails Diddy by a hair for the No. 1 spot on the latest Forbes Five list, he has certainly come a long way--he's nearly tripled his net worth since 2011, when he clocked in at $250 million. With a little luck and some savvy investing, he still has a decent chance of becoming hip-hop’s first billionaire
Why Dr. Dre Isn't A Billionaire Yet
[QUOTEPiffery, post: 23398178, member: 14664"]Damn, I wanted Jay to win, congratulations to Puffy though, one of the most interesting characters in rap and he's survived a lot.[/QUOTE]
The one who get to tell the stories lol
The one who get to tell the stories lol
congrats to that man...hopefully it brings him closer to that goal of owning a nfl team....
*diddy voice* take that, take that....we dont give a fukk about what you think about us, how you feel about us, what you say about us, we gonna keep doing our muthafukking thing from now to the year 3000 bytches...cant stop, wont stop*
*diddy voice* take that, take that....we dont give a fukk about what you think about us, how you feel about us, what you say about us, we gonna keep doing our muthafukking thing from now to the year 3000 bytches...cant stop, wont stop*
When Dre sold beats, he wasn't the sole owner, and the media gassed up the reports, at the end of the year, more accurate figures came out and Diddy was still on top.
Its take Puff the last 3 years to get to the billie mark. Its been in his sights for years. People talk about the Ciroc and Aquahydrate as big deals, but the Deleon deal he just made is going to be major in the next 5 years.
Its take Puff the last 3 years to get to the billie mark. Its been in his sights for years. People talk about the Ciroc and Aquahydrate as big deals, but the Deleon deal he just made is going to be major in the next 5 years.
