The imminent purchase of headphone maker Beats by Apple for $3.2 billion is set to make music veteran Dr. Dre (real name Andre Young) the wealthiest man in hip-hop.
While there are reports that the acquisition of the hip headphone brand by Apple would make Dr. Dre the first billionaire in hip-hop, Forbes is reporting those estimates are a bit exaggerated.
The 49-year-old rapper/producer stake in Beats currently stands somewhere between 20 to 25%. After capital gains taxes, which could take a chunk of his payday away, Dr. Dre is set to likely net something around $800 million. Though a huge amount of money, still not enough to land the former World Class Wreckin’ Cru and N.W.A. member on the Forbes 400.
As the wealthiest man in hip-hop, Dr. Dre’s Beats earning would take him from his current $550 million worth and put him about Sean “Diddy” Combs ($700 million), Shawn “Jay Z” Carter ($520 million), Bryan “Birdman” Williams ($160 million), and Curtis “50 Cent” Jackson ($140 million).
Talk of Dr. Dre becoming an instant billionaire and the finalization of the deal started because of a YouTube video that his friend, singer/actor Tyrese Gibson posted on Facebook. In the congratulatory video, where Dre appears, Gibson celebrates his pal’s financial windfall and calls him: “First billionaire in hip-hop, right here!”