Andre Romelle Young, better known for is stage name Dr. Dre in the hip-hop industry among the greats. Dr. Dre owns 6 Grammy Awards as well as was among the best-selling American performing musicians of his period, and also, Dr. Dre has used his experience in the industry for his own entrepreneurial feats. With the recent biopic Straight Outta Compton discovering Dr. Dre’s beginning with N.W.A., we are still thinking how he achieved his uber success that he has today. Dr. Dre sits fairly with a predicted net worth of $700 million dollars this year. He’s not the richest hip hop artist, however, he certain is close, and his rise from the simple start is 1 worth noting.
Following N.W.A.’s split, Dr. Dre went on to record “The Chronic” his 1st solo album and was considered as one of hip hop’s most greatest artists as well as producers for many years to follow. The Chronic was known as something of a cultural phenomenon, presenting a new kind of rap to the mainstream. The album was certified triple platinum in the year 1993, as well as Dr. Dre was rated as the 8th top selling musical artist of the year. He ongoing his solo music occupation, but his eye for collaboration is what set him aside and resulted in even bigger commercial achievements.
When Dr.Dre quit Death Row Records in the year 1996 to establish his own label, Aftermath Entertainment, it was a huge step towards the remarkable financial achievement he sees today. With his label, he signed Eminem and 50 Cent and shortly moved towards concentrating on production. While he still performed as well as recorded his own music, the concentrate was often on his signed artists. He produced music for a variety of artists from Mary J Blige to Eminem to Gwen Stefani. And what it got down to was his wise business making abilities that raised him to the best. In 2001, he made his first big business shift when he sold his Aftermath Entertainment to Interscope for an estimated $52 Million.
After that arrived Beats by Dre, the high-priced headphone company that skyrocketed Dr. Dre’s worth through the roof. In the year 2011, Forbes predicted Dr. Dre held a net worth of $250 million, the majority of it from his involvement in Beats Electronics which he co-founded with Interscope chief Jimmy Iovine. That year HTC had paid $300 million to purchase a 51% stake in the company, and Forbes predicted Dre took house about $85 million after taxes. In 2014, Dr. Dre had overtaken Jay-Z to become the 2nd wealthiest hip-hop mogul on the planet with a believed $550 million. Still Sean “Diddy” Combs keeps the top place and has for quite a while However Dr. Dre is sneaking up on it.
In 2015, Forbes estimates Dr. Dre’s worth at $700 million. In May of 2014 Beats Electronics was sold to Apple for about $3 billion. It appeared that this would set Dr. Dre as the first hip-hop billionaire; however in taking his share of the loot, and extra taxes, it curved to $500 million payouts. Together with other income, Forbes discovered his worth to be an entire of $700 million, which is nearly tripled from 2011.
Forbes seems to check out various perspectives and estimates numbers based on a good amount of research. Following the deal was originally announced; Dr. Dre said on Instagram (later deleted) that he was:
“The first billionaire in hip-hop from the motherfucking West Coast.”
Dr. Dre might not have considered how much in taxes would be taken out of a deal at that size. As well as though he might not be a billionaire yet, together with his business savvy, he is well on his approach there.