Despite what reports and people are saying, Dr. Dre will not be a millionaire after Apple acquires Beats. Word hit yesterday that Apple wanted to buy the headphones company for $3.2 billion, so naturally it was assumed that Dre would easily become a billionaire, bit that’s not the case.
Dre owns 20-25% stake in Beats, according to Forbes. With the sale and after taxes, that would leave him with a net worth of $800 million.
The sale would make him the richest rapper, leaving him with $100 million over Diddy, who was just named the worlds richest rapper recently. But it would not leave him with enough to crack Forbes top 400.
Billionaire or not, the deal is no small feat. I’d make it rain (in my bank account) with $800 million any day.
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Dr. Dre Will NOT Be A Billionaire After The Sale Of Beats was originally published on theurbandaily.com