Dr. Dre — reportedly price an estimated $820 million — may quickly inch nearer to turning into a bonafide billionaire.
The pioneering N.W.A. rapper and self-made leisure mogul is promoting an assortment of music earnings streams and different belongings to Shamrock Holdings and Universal Music Group (UMG) in offers totaling between $200 and $250 million, sources instructed Variety.
Billboard first reported the information as rumors have swirled concerning the offers for a number of weeks. The belongings being offered embody royalties from two of Dre’s solo albums, his share of N.W.A. royalties, the author’s share of his tune catalog and his producer royalties.
Sources instructed Billboard that 75% to 90% of that assortment — which produces about $10 million per 12 months — consists of songs that Dre doesn’t personal any publishing. Those identical sources imagine that a big chunk of the belongings can be acquired by Shamrock, with UMG procuring the remainder.
Additionally, UMG is about to amass the grasp recording of Dre’s seminal 1992 album “The Chronic,” which is able to revert to the Death Row Records label that initially launched it. Dre’s protege Snoop Dogg, who featured on that report, coincidentally purchased Death Row final 12 months.
Dre, whose actual identify is Andre Young, has made severe enterprise strides during the last decade. While he beforehand declared himself “the first billionaire in hip hop” after promoting his line of Beats Electronics to Apple in 2014, this newest transfer will seemingly solidify his standing.
Dre fashioned N.W.A. within the Nineteen Eighties and produced the hip-hop group’s autobiographical movie “Straight Outta Compton” in 2015. He headlined final 12 months’s Super Bowl Halftime Show and lately despatched Rep. Marjorie Taylor Greene (R-Ga.) a cease-and-desist letter for utilizing his music on-line.
Dre’s choice to promote a few of his music belongings arrived about one 12 months after he reached a $100 million property settlement settlement along with his ex-wife, Page Six reported. However, his offers don’t embody possession rights to his Aftermath label, which launched his masterful “Chronic” follow-up titled “2001.”
These once-rumored transactions appear to verify why “The Chronic” vanished from streaming companies reminiscent of Spotify and Apple Music within the spring of 2022. While the album’s rights will revert to Death Row in August, it’s unclear whether or not Snoop will make it available.
The newfound Death Row CEO has fostered a penchant for turning his work into NFTs (non-fungible tokens) and launched the “Death Row Session Vol. 2” album as an unique NFT final 12 months. As for Dre, the world-class producer is reportedly engaged on a brand new 50 Cent album.