Dr. Dre is one step closer to joining the millionaire club. The entrepreneur is selling his music catalog in a massive $200 million deal.
Dr. Dre: Self Made Almost a Millionaire
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The rapper is working on a deal to sell his music catalog and accompanying streaming venture. The music catalog generates nearly $10 million a year in passing income for Dre. Soon, if the deal goes through, Shamrock Holdings and Universal Music Group will make that and possibly more with the deals they get.
The deal has allegedly been in the works for several weeks now and is almost set to close. It is led by Dre’s longtime attorney Peter Paterno of King, Holmes, Paterno & Soriano. Both parties have been tight-lipped about the deal but sources close to Dre, according to Billboard have confirmed the deal.
What’s Included in Dr.’s Offer Dr
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According to Variety, the deal will include “artist royalties from his two solo albums and a share of NWA’s artist royalties; its producer royalties; and the part of his song catalog where he doesn’t own a publication, which may include songs from his 1993 blockbuster album “The Chronic.”
UMG will also retain ownership of “The Chronic,” which Dre owns through this summer, August to be exact. The split for the deal should be 75%-90% to Shamrock and UMG needing whatever is left.
If Shamrock sounds familiar to you, it’s probably because they acquired some of Taylor Swift’s master recordings
Dr. Dre Has Multiple Sources of Income
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The rapper will still make a significant amount of money from all of his other business ventures. Beats headphones, an up and coming artist, he still co-owns Aftermath Records, and let’s face it everyone still wants a piece of Dre.
Let’s not forget that while he was making a deal for his Beats headphones, he was still allegedly making close to $500 million a year for the former NWA rapper.
One of Dre’s biggest money makers is his real estate. He allegedly owns a $2.25 million mansion in the Pacific Palisades district, a $50 million mansion in Brentwood, and a $4.9 million home in Calabasas, CA, which allegedly has a recording studio.
So, clearly, he is not hard for money. He also got a spot as an executive at Apple when he sold them Beats so yeah, Dre did well. In total, he is reportedly worth $820 million thanks to technology at his core.
Dr. Dre Occupies the Tech Space
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The rapper navigates his way around techno music using his musical knowledge and business tricks he’s learned in the industry over the past twenty-plus years. He is so close to billionaire status now.
If he can negotiate more for his music catalog and streaming platform, he could be a billionaire by the end of the year. Hey, maybe he’ll be on the cover Forbes magazine by next year.
Dre is still a sought-after producer; he has not given up on music and will continue to collaborate with artists and produce new music. Maybe he’s just making room for a more up-to-date music catalog.
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Source: thtrangdai.edu.vn/en/
