Dr Dre Net Worth in 2022: Early Life, Beats, Apple, Divorce, Real Estate, Net Worth and More
Early Years and Early Achievement
On February 18, 1965, Andre Romelle Young was born. Dre grew up in the burgeoning West Coast hip-hop scene in South Central Los Angeles. Dre used to frequent nightclubs as a youth, where he learned to DJ. He joined the electro-hop group World Class Wreckin’ Cru in 1984. Dr. Dre joined the rap group N.W.A., which is led by rapper Eazy-E, after meeting fellow rapper Ice Cube.
The group’s debut album, “Straight Outta Compton,” was released in 1988 on Eazy-E and Jerry Heller’s Ruthless Records. Straight Outta Compton was a violent, vulgar, and undoubtedly pioneering album that went double platinum and went down in music history as one of the most essential records in the establishment of hip-hop.
Ice Cube departed N.W.A. in 1989 due to royalties payments conflicts with Jerry Heller and Eazy-E. Eazy-E and Dr. Dre finally had a falling out. In 1991, he quit the group to co-found Death Row Records with Suge Knight. “The Chronic,” Dr. Dre’s first solo album, was released in 1992.
The album went on to sell 6 million copies worldwide, making it one of the most well-produced and well-known hip-hop albums of all time. It went multi-platinum less than a year after debuting at number three on the Billboard 200. Dr. Dre won a Grammy for Best Rap Performance for the tune “Let Me Ride” of the album. Dre produced for Tupac Shakur, Snoop Dogg, and Warren G while at Death Row Records (who is also his step-brother).
Dre departed Death Row in 1996 after becoming dissatisfied with the company’s continual legal problems and conflicts. He gave up his back catalog rights as well as his corporate ownership share. Dre subsequently claimed that when he left Death Row, he walked away with $50 million. He swiftly founded Aftermath Entertainment, which would later house Eminem, Mary J. Blige, and 50 Cent, among others.
Dre sold his Aftermath Entertainment stake to Interscope Records for $52 million in 2001.
Beats by Dre and Apple’s Purchase
Dr. Dre expressed his dissatisfaction with the sound of his music when played through Apple’s plastic Airbuds headphones in a 2006 meeting with Interscope Chairman Jimmy Iovine. During the discussion, he said: “People stealing my music is one thing, but it’s another. It’s one thing to ruin the feel of something I’ve worked on.” Jimmy and Dre decided to start their own headphone company before the end of the conference.
They collaborated with Monster Cable to create the first Beats by Dre Studio headphones, which were released in July 2008. HTC bought 50.1 percent of Beats for $309 million in August 2010, valuing the firm at $618 million.
HTC sold half of its interest to Jimmy and Dre for $150 million in July 2012, keeping a 25% stake. HTC sold the remaining 25% interest to Jimmy and Dre for $265 million in September 2013. At the same time, Beats announced that Carlyle Group, a private equity firm, had invested $500 million in the company.
Beats was valued at $1 billion for the first time in the deal. Beats Music, a subscription music service, was introduced by the firm in January 2014.
After weeks of speculation, Apple confirmed on May 28, 2014, that it was buying Beats by Dre for $3 billion. Apple would purchase the company for $2.6 billion in cash and $400 million in shares. Dre and Jimmy both held 25% of Beats at the time of the sale. Before taxes, their stakes were worth $750 million, and after taxes, they were worth around $500 million. The Carlyle Group made $1 billion in profit.
Ownership of Apple Stock
As we discussed earlier, $400 million of the $3 billion purchase price was paid in Apple shares when Beats was sold to Apple. Dre received $100 million worth of Apple shares as a 25% owner. Apple was trading at around $95 per share when the sale finished, so he received about 1 million shares. Apple is currently trading at well over $200 per share. Dre’s Apple stock alone is worth $200 million today, assuming he has held on to all 1 million shares (before taxes).
Dr. Dre and Jimmy Iovine contributed $70 million to the University of Southern California to establish the Jimmy Iovine and Andre Young Academy for Arts, Technology, and the Business of Innovation in May 2013.
He donated $10 million to build a performing arts complex at Compton High School in June 2017.
Dre had a son with his girlfriend at the time, Cassandra Joy Greene when he was 16 years old in 1981. Curtis, their son, is a rapper who goes by the stage moniker Hood Surgeon. He did not meet his father until he was in his twenties, according to reports.
Dre had a second kid in 1983, a daughter named La Tanya Danielle Young.
Dre and his fiancée Jenita Porter gave birth to a son named Andre Young Jr. in 1988. Andre died tragically of a heroin overdose in August 2008.
Dre and singer Michel’le had a kid named Marcel in 1990.
Nicole Young and Dre Young were married from 1996 to 2020 when she filed for divorce. They have two children together: Truice, a son, and Truly, a daughter. According to reports, the couple did not have a prenuptial agreement when she filed for divorce in June 2020, and she could be entitled to a big chunk of his income.
Settlement of Divorce
Dr. Dre eventually agreed to pay Nicole $100 million in two installments. He gave her $50 million upfront and will give her another $50 million in a year.
Halftime Show at the Super Bowl
Dre headlined the Super Bowl halftime act at SoFi stadium in Inglewood, California on February 13, 2022.
Net worth of Dr. Dre
Dr. Dre is a rapper, actor, entrepreneur, and producer from the United States. Dr. Dre has a net worth of $500 million as of this writing.
Dr. Dre spent $2.4 million on a mansion in Woodland Hills, California in the late 1990s. He listed the house for $5.25 million in July 2019 and found a buyer for $4.5 million a month later. The house was situated on a 16,000+ acre site within a gated neighborhood. Dr. Dre spent $50 million in 2014, fresh off the sale of Beats, to purchase Tom Brady and Giselle Bundchen’s amazing brand new monster house in Brentwood.
Dre sold his Hollywood Hills mansion for $32.5 million in January 2013. He paid $15.4 million for this home in 2001. He has held an oceanfront mansion in Malibu, California, for more than 20 years, which he purchased for $5 million.
He paid $4.9 million for a mansion in Calabasas, California in 2018. In 2019, he spent $2.25 million on a modest property with ocean views in the Pacific Palisades, which is part of a gated neighborhood. Dr. Dre’s real estate portfolio is estimated to be worth at least $80 million.
Comments are closed.