Dr. Dre Crowns Himself ‘First Billionaire in Hip-Hop’ After Apple-Beats Deal
In a video selfie, shot by Tyrese, the veteran producer boasted about his historic deal.
“First billionaire in hip-hop, right here on the motherf—-ing west coast,” Dre confirmed in front of the camera.
Although the deal would make Dr. Dre the most wealthiest hip-hop artist, the deal may not land him on the billionaire’s list.
According to Forbes writer Zack O’Malley Greenburg, after the tax man gets his cut of the deal, Dre’s net worth will likely be around $800 million. That would top the current Hip-Hop’s Wealthiest Rap Mogul Diddy, who has a net worth of $700 million.
Some may be wondering why is Apple buying Beats Electronics?
It’s pretty much a no-brainer.
Beats by Dre products bring in a reported $1 billion in annual revenue. And honestly, everybody is wearing their popular headphones — from teenagers to adults to engineers in the recording business. They are everywhere.
With Nicki Minaj among their celebrity endorsers, Beats Electronics appeal to the younger market, which is what Apple likely needs to help improve their image.
“Beats has a unique brand — it speaks to a nice young demographic, which is really interesting to marketers,” said Peter Csathy, former president of Musicmatch. “When I think about Beats, I think about it as a lifestyle, I think of it as a media company, not just a hardware and music-focused company.”
Although nothing has been confirmed, it appears that Dr. Dre is breaking new ground in hip-hop and business.
Ain’t nothing but a “B” thang, baby.