Dr. Dre is a rapper, producer, and entrepreneur from the United States of America. It was in the 1980s that he worked as a producer for hip hop group NWA before branching out on his own.
Since selling his ‘Beats By Dr. Dre brand to Apple for $3 billion in 2007, he has collaborated with some of the greatest hip-hop artists of all time.
Andre Romelle Young, better known as Dr. Dre, was born on February 18, 1965, in Compton, California. His real name is Dr. Dre.
His parents wed in 1964, but they divorced in 1972 after having been apart since 1968. Later in life, his mother remarried and had a total of three children: two sons named Jerome and Tyree, both of whom passed away, and a daughter named Shameka.
In the beginning, Dre went to school in Compton at the Vanguard Junior High School. On the other hand, as a result of an increase in gang violence, he transferred to Roosevelt Junior High School, which was situated in a less risky neighborhood.
In 1981, when Dre was only 16 years old, he became a father to a son with his then-girlfriend, Cassandra Joy Greene, who was just 15 years old at the time. Hood Surgeon is the stage moniker that his parents gave to their son Curtis, who is a rapper. It was not until he was in his 20s that he was said to have finally met his father.
Dre welcomed her second child into the world in 1983, a girl that she called La Tanya Danielle Young.
In 1988, Dre and his then-girlfriend Jenita Porter gave birth to a son, whom they named Andre Young Jr. after Dre’s own father. Unfortunately, Andre passed away in August 2008 due to an overdose of drugs.
In 1990, Dre and the singer Michelle welcomed a son, Marcel, into the world.
The marriage between Dre and Nicole Young began in 1996 and lasted until she filed for divorce in 2020. They have been blessed with a son named Truice and a daughter named Truly as a result of their union. It was reported that the couple did not have a prenuptial agreement at the time that she filed for divorce in June of 2020, and as a result, she may be entitled to a sizeable amount of his wealth.
Dre was employed at a small club called Eve After Dark in the middle of the 1980s. After seeing a variety of different performers there, Dre decided to try his hand at being a DJ at the club. This is where Dre had his first encounter with DJ Yella, who would later become a member of NWA.
The club’s backroom housed a modest recording studio, which Dre and N.W.A. utilized in order to record some preliminary demos of their music.
Ice Cube and Eazy-E, two other rappers, as well as DJ Yella and MC Ren, came together in 1986 to form the group that would become known as N.W.A. Straight Outta Compton, the band’s first studio album, was a smash hit when it was released.
Following a number of disagreements with the other members of the group, Dr. Dre chose to pursue a solo career in the early 1990s. In 1992, he came out with his debut song through Death Row Records, which was established by Suge Knight. His first solo album was released under the title “The Chronic.”
Beats by Dre and Sale to Apple
In a meeting in 2006 with Interscope Chairman Jimmy Iovine, Dr. Dre expressed his dissatisfaction with the sound of his music when it was played over Apple’s plastic Airbus headphones. He said that he was upset with the quality of his music.
In the meeting, he made the following remark: “It’s one thing that people steal my music, but it really stinks. To obliterate the sensation of what I’ve labored on is a whole different matter.” Jimmy and Dre came to the conclusion that they should start their own headphone firm by the time the meeting was through.
They began by forming a partnership with Monster Cable in order to manufacture the very first set of Beats by Dr. Dre Studio headphones, which were made available for purchase in July of 2008. In August of 2010, mobile phone manufacturer HTC paid $309 million to acquire 50.1% of Beats, which resulted in a valuation of the firm of approximately $618 million at the time.
In July of 2012, HTC made a deal with Jimmy Iovine and Dr. Dre to buy back 50 percent of their investment in the company for $150 million. HTC still owns 25 percent of the company.
In September 2013, HTC completed the purchase of Jimmy and Dre’s remaining 25 percent ownership in the company for the sum of $265 million. During the same time period, Beats made the announcement that the private equity firm Carlyle Group had provided the company with an investment of $500 million. Because of the investment, Beats is now worth a total of one billion dollars. The firm introduced its paid music streaming service, which it named Beats Music, in January of 2014.
Apple Stock Ownership
When Beats was sold to Apple for $3 billion, as was just revealed, $400 million of that was paid for in Apple shares, making the total transaction price $3 billion. As the owner of 25 percent of the company, Dr. Dre was awarded Apple shares worth $100 million. Since Apple was trading at approximately $95 per share when the transaction was finalized, this indicates that he was given approximately 1 million shares.
As this article is being written, one share of Apple sells for slightly more than $200. Assuming that Dre has kept all 1 million of his Apple shares, the value of his investment in that company alone has increased to $200 million (before taxes).
Dr. Dre Real Estate
Dr. Dre shelled out a total of $2.4 million in the late 1990s in order to purchase a house in the city of Woodland Hills in the state of California. He secured a buyer for the home one month after putting it up for sale in July 2019 at a price of $5.25 million, and then negotiated a price reduction to $4.5 million. The property was situated on a lot that was more than 16,000 acres in size and was situated within a community that was enclosed by gates.
In 2014, shortly after the sale of Beats, Dr. Dre dropped a cool fifty million dollars to purchase the amazing spanking new monster home in Brentwood that belonged to Tom Brady and Giselle Bundchen.
In January of 2013, Dr. Dre sold the mansion he owned in the Hollywood Hills for $32.5 million. In 2001, he paid $15.4 million for the purchase of this home.
He has been the owner of an oceanfront mansion in Malibu, California, which he purchased for $5 million and has lived in for more than 20 years.
In 2018, he spent $4.9 million to purchase a mansion in the city of Calabasas in the state of California. He purchased a home in the Pacific Palisades in 2019 for the price of $2.25 million. The home is on the smaller side, but it offers ocean views and is in a community that is gated.
What Is Dr. Dre’s Net Worth?
His real name is Eminem. Dr. Dre is an American rapper, actor, producer, and entrepreneur. Dr. Dre is currently worth $500 million, according to the latest available data. In the previous three decades, Dr. Dre has been one of the most successful performers in the music industry. With his singing career, he’s made hundreds of millions of dollars, and with his different business ventures, he’s made even more.
Many albums and singles were sold by Dre, first with N.W.And then on his own, selling hundreds of millions of copies worldwide. Aftermath Entertainment, his production company/label, launched the careers of Eminem and 50 Cent.
He and producer Jimmy Iovine co-created the consumer electronics company Beats By Dre which was bought by Apple in May 2014 for $3 billion. As joint owners of Beats by Dre at the time of the sale, Jimmy and Dre shared in the pre-tax proceeds of $750 million. Dre walked away from the deal with a windfall of $780 million after taxes (when combined with his other holdings).
Nicole Young, Dre’s wife of 24 years, filed for divorce in June of 2020. The newlyweds are said to not have a prenuptial agreement. Dr. Dre revealed his financial situation in court documents filed in December 2021.
According to the documents, Dre has assets between $450 million and $500 million and a monthly salary of roughly $230,000. That year, he sold $73 million worth of Apple stock and had $182,733,809 in his checking and savings accounts, according to the filing. $6 million in investments and $270 million in personal property complete his wealth.