Tyrese is saying Forbes needs to go back and update their list. With the news this past week of Apple aquiring Beats Electronics for 3.2 Billion dollars, spotlights the question: Is Dr. Dre the “First Billionaire in Hip Hop?” Watch the video above and see Mr. Beat man boast “The first billionaire in hip-hop, right here from the mother-f$%&*#$ West Coast, believe that!”
According to Billboard:
Beats Electronics is a privately held company and therefore does not have to make detailed financial information public. Companies only have to make that information available when they register for IPOs, according to SEC regulations.
Dre’s stake in Beats is estimated to be in the 20-25% range. If he were to earn that amount directly from the $3.2 billion sale his take would be somewhere between $640 million and $800 million, before taxes. With that amount, combined with his earnings of $550 million last year as well as his other income streams (album sales, publishing royalties, his work with HP laptops) the hip-hop legend would be very close to a net worth of a billion dollars.
So: If the deal doesn’t make Dre the first hip-hop billionaire, it definitely puts him close to it. It’s a many Gs thang.