Dr Dre Net Worth
Number of divisions: 25
What is the net worth of Dr. Dre?
Dr. Dre is an American rapper, actor, entrepreneur and producer. At the time of writing, Dr. Dre has a net worth of US$500 million. Dr. Dre is one of the most successful entertainers in the past three years. He has earned hundreds of millions of dollars from his music career and earned more through various entrepreneurial pursuits.
As a member of NWA and later as a solo artist, Dre has sold hundreds of millions of albums and singles during his career. Then, he started his career with Eminem and 50 Cent through his production company/record company Aftermath Entertainment.
In addition to music, Dr. Dre and music producer Jimmy Iovine co-founded the consumer electronics company Beats By Dre, which was acquired by Apple in May 2014 for $3 billion. At the time of the sale, Jimmy and Dre both owned 25% of Beats by Dre, so they each received $750 million in pre-tax income from the transaction. After the sale, Dre immediately had $780 million in after-tax wealth (after merging with his other assets).
In June 2020, it was reported that Dre’s 24-year-old wife, Nicole Young, had filed for divorce. According to reports, the couple has no prenuptial agreement. In a court document filed in December 2021, Dr. Dre revealed his financial status. The documents show that Dre controls assets valued at US$45 to US$500 million, with an average monthly income of approximately US$230,000. The documents show that Dr. Dre sold $73 million worth of Apple stock in 2021, and he held $182,733,809 in his checking/savings account. He also has $6 million in stocks and $270 million in personal assets.
Early life and early success
He was born on February 18, 1965, under the original name Andre Romelle Young. Dre grew up in the up-and-coming West Coast hip-hop music in south-central Los Angeles. As a teenager, Dre often went to nightclubs to learn DJ. In 1984, he became a member of the electronic jumping band World Class Wreckin’ Cru. After meeting with rapper Ice Cube, Dr. Dre joined NWA, a rap project run by rapper Eazy-E. Led by Eazy-E and Jerry Heller’s Ruthless Records, the band released their first album “Straight Outta Compton” in 1988. Violent, profanity and undeniable groundbreaking, Straight Outta Compton finally obtained the double platinum certification and will be included in the music history as one of the most critical albums in the formation of hip-hop music.
Ice Cube left NWA in 1989 due to a royalty dispute with Jerry Heller and Eazy-E. Dr. Dre eventually fell out with Eazy-E. He left the band in 1991 and soon co-founded Death Row Records with Suge Knight. In 1992, Dr. Dre released his first solo album “The Chronic”. The album eventually sold 6 million albums worldwide and is considered one of his most well-produced and most popular hip-hop albums in history. It ranked third on the Billboard 200, and reached the multi-platinum list less than a year later. This album also won the Grammy for the best rap single “Let Me Ride” for Dr. Dre. During Death Row Records, Dre produced records for his label partners Tupac, Snoop Dog and Warren G (he is also his stepbrother).
In 1996, Drey left the death row after being fed up with the constant legal issues and disputes of this controversial company. He gave up his post catalog rights and company ownership. Dre later claimed that when he left the death row, he walked out of the $50 million. He soon established Aftermath Entertainment, which eventually became home to many talents, including Eminem, Mary J. Blige and 50 Cent.
In 2001, Dre sold his stake in Aftermath Entertainment to Interscope Records for $52 million.
Beats By Dre and Sale to Apple
During a meeting with Interscope Chairman Jimmy Iovine in 2006, Dr. Dre complained that when he played music through Apple’s plastic Airbuds headphones, he was dissatisfied with the quality of his music. He said at the meeting: “Man, it’s one thing for people to steal my music. The feeling of ruining the work I do is another matter.At the end of the meeting, Jimmy and Drey decided to set up their own headset company.
They initially collaborated with Monster Cable to make the first Beats by Dr. Dre Studio headset, which was launched in July 2008. In August 2010, mobile phone manufacturer HTC purchased a 50.1% stake in Beats at a price of US$309 million, and valued the company at approximately US$618 million. In July 2012, HTC sold back half of its shares to Jimmy and Dre for US$150 million, retaining 25% of the shares. In September 2013, HTC sold the remaining 25% of its shares back to Jimmy and Dre for US$265 million. At the same time, Beats announced that it has received a US$500 million investment from the private equity firm Carlyle Group. This investment made Beats valued at US$1 billion for the first time. In January 2014, the company launched a subscription music service called Beats Music.
On May 28, 2014, after several weeks of rumors, Apple officially confirmed that it would acquire Beats by Dre $3 billion. Apple will pay $2.6 billion in cash and $400 million in stocks for the company. At the time of the sale, both Dre and Jimmy owned 25% of Beats. Their respective shares are valued at US$750 million before tax and approximately US$500 million after tax. The Carlyle Group made $1 billion.
(Photo by Kevin Winter/Getty Images for Coachella)
Apple stock ownership
As we mentioned earlier, when Beats was sold to Apple, $400 million of the $3 billion purchase price was paid for in Apple stock. As the owner of 25%, Dre received $100 million worth of Apple stock. When the transaction was completed, Apple’s stock price was approximately $95 per share, which means he had acquired approximately 1 million shares. At the time of writing, Apple’s stock price is slightly higher than $200 per share. Assuming that Dre holds all 1 million shares, today only his Apple stock is worth $200 million (before tax).
Dr. Dre’s annual occupational income
2007-US$20 million
2008-USD 15 million
2009-USD 13 million
2010-US$17 million
2011 – US$ 14 million
2012-110 million US dollars
2013 – US$40 million
2014-US$ 620 million
2015-USD 33 million
2016-US$41 million
2017-USD 34.5 million
2018-35 million USD
All: US$992.5 million
Charity
In May 2013, Dr. Dre and Jimmy Iovine donated $70 million to the University of Southern California to establish the USC Jimmy Iovine and Andre Young School of Art, Technology, and Innovation Business. In June 2017, he donated $10 million to build a performing arts center at Compton High School.
Dr. Dre Real Estate
In the late 1990s, Dr. Dre spent $2.4 million to purchase a mansion in Woodland Hills, California. After listing the house for $5.25 million in July 2019, he found a buyer for $4.5 million a month later. The house is located in a gated community and covers more than 16,000 acres. In 2014, Beats had just been sold, and Dr. Dre spent US$50 million to acquire Tom Brady and Giselle Bundchen’s incredible brand new monster mansion in Brentwood.
In January 2013, Drey sold his mansion in the Hollywood Hills for $32.5 million. He bought the house in 2001 for $15.4 million.
For more than 20 years, he has owned a beach house in Malibu, California, which he bought for $5 million.
In 2018, he bought a mansion in Calabasas, California for $4.9 million. In 2019, he spent US$2.25 million to buy a relatively simple house in Pacific Palisades, which has sea views and is located in a gated community.
The total value of Dr. Dre’s known real estate investment portfolio is at least $80 million.
personal life
In 1981, when Dre was 16 years old, he and his then girlfriend, a 15-year-old woman named Cassandra Joy Greene (Cassandra Joy Greene) gave birth to a son. Their son Curtis is a rapper, performing under the name of Hood Surgeon. According to reports, he didn’t see his father until he was in his 20s.
In 1983, Dre gave birth to another daughter named La Tanya Danielle Young.
In 1988, Dre gave birth to a son with his girlfriend Jenita Porter. His name was taken from his father’s Andre Young Jr. Unfortunately, Andre passed away in August 2008 from a drug overdose.
In 1990, Drey and singer Michel’le had a son named Marcel.
Dre and Nicole Young were married in 1996 until she filed for divorce in 2020. They have two children together; one son is Truice and the other daughter is Truly. When she filed for divorce in June 2020, it was reported that the two had no prenuptial agreement, so she was entitled to most of his property.
