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After falling to No. 5 on the list of Hip-Hop's richest moguls in 2022, as curated by Forbes magazine, with a fortune estimated at $400 million, it looks like Dr. Dre has found the perfect prescription to put himself back among the genre's top earners.
The super-producer, who once wrongly proclaimed himself hip-hop's first billionaire, is close to reaching a deal to sell some of his music assets for more than $200 million.
It's not enough to get him into the coveted three-comma club with Jay-Z ($1.5 billion), and Diddy ($1 billion) but it will provide a significant boost to his net worth, which peaked at $800 million.
According to reporting from Variety, the sales are being made to Shamrock Holdings and Universal Music Group through a pair of deals for assets making around $10 million a year. The assets being purchased include his artist royalties from N.W.A. and for two solo albums, along with producing royalties and other entities.
The master recording of Dre’s iconic debut solo album following his departure from N.W.A., 1992′s "The Chronic,” will also be acquired by UMB. The triple-platinum album was selected by the Library of Congress for preservation in the National Recording Registry in 2019 as "culturally, historically, or aesthetically significant."
Dre, 57, will reportedly maintain control of his Aftermath Entertainment record label.
According to reporting from Variety, the sales are being made to Shamrock Holdings and Universal Music Group through a pair of deals for assets making around $10 million a year. The assets being purchased include his artist royalties from N.W.A. and for two solo albums, along with producing royalties and other entities.
The master recording of Dre’s iconic debut solo album following his departure from N.W.A., 1992′s "The Chronic,” will also be acquired by UMB. The triple-platinum album was selected by the Library of Congress for preservation in the National Recording Registry in 2019 as "culturally, historically, or aesthetically significant."
Dre, 57, will reportedly maintain control of his Aftermath Entertainment record label.
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