Dr. Dre On His Way To Billionaire Status Amid $200 Million Sale Of Music Catalog
theblast.com
2 min read
Dr. Dre On His Way To Billionaire Status Amid $200 Million Sale Of Music Catalog
Dr. Dre is one step closer to joining the billionaire’s club. The entrepreneur is selling his music catalog in a huge $200 million deal.
Dr. Dre: Self-Made Almost Millionaire
The rapper is working on a deal to sell his music catalog and accompany streaming ventures. The music catalog generates nearly $10 million a year in passing income for Dre. Soon, if the deal goes through, Shamrock Holdings and Universal Music Group will be generating that and maybe more with the deals they acquire.
The deal has been allegedly in the works for a few weeks now and is almost set to close. It is being headed by Dre’s long-time attorney Peter Paterno of King, Holmes, Paterno & Soriano. Both parties are hush-hush regarding the deals but a source close to Dre, according to Billboard has confirmed the deal.
What Does Dr. Dre’s Deal Include
The rapper will still be generating a truckload of money off of all his other business ventures. Beats headphones, up and coming artists, he still co-owns Aftermath Records, and let’s be real everyone still wants a piece of Dre.
Don’t forget that while he made a deal for his Beats headphones, he still allegedly makes close to $500 million a year for the former NWA rapper.
One of Dre’s biggest money-makers is his real estate. He supposedly owns a $2.25 million mansion in the Pacific Palisades district, a $50 million mega-mansion in Brentwood, and a $4.9 million home in Calabasas, CA, that allegedly has a recording studio.
So, clearly, he is not hard up for money. He also secured himself a spot as an executive at Apple when he sold Beats to them so yeah, Dre is doing well. Overall, he is reportedly worth a whopping $820 million thanks to tech essentially.
Dr. Dre Occupied The Tech Space
The rapper navigated his way around the tech music using his music knowledge and business tricks he picked up in the industry over the past twenty-plus years. He is so close to billionaire status by now.
If he is able to negotiate more for his music catalog and streaming platforms, he could be a billionaire by the end of the year. Hey, maybe he will be on the cover of Forbes magazine by next year.
Dre is still a sought-after producer; he hasn’t given up on music and will continue to work with artists and produce new music. Maybe he is just making room for a more updated music catalog.
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