APPLE DEAL DOESN'T ADVANCE DR. DRE TO BILLIONAIRE STATUS.............
It would have been good to call Dr. Dre Hip-Hop’s first billionaire these last couple months, but the celebrations had begun a bit early.
Although Apple did buy the Beats from Dr. Dre's company for 3+ million dollars, Dre only owns 25% of the company.
Once the deal was signed, Dre would only walk away with roughly $800 million. Then after legal persons and the state comes in and gets their portion, Dr. Dre will only be left with approximately $480 million from the sale of the company. Quiet as its kept and despite the fact the the government taking half of his money, being left with $480 million is not a bad consolation prize.
Adding the proceeds from the sale to Dre’s existing assets, he is estimated to be worth $800 million.
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