Is Dr. Dre About to be Hip-Hop’s First Billionaire?
Tonight, reports have hit the web that Apple is in negotiations to buy Beats, owned by Jimmy Iovine and Dr. Dre, for $3.2 billion. Given Dr. Dre’s recently estimated net worth of $550 million, it is quite possible sale of his equity stake in Beats could make him Hip-Hop’s first billionaire. Until recently, it was all but given that Jay Z would be the first Hip-Hop mogul to cross the threshold, with Sean “Diddy” Combs being the other most likely contender. But, after leaving both Ruthless and Death Row records virtually penniless, it looks like, once again, they Forgot About Dre…Salute to the good Doctor.