Dr Dre looks set to become the first artist to be worth a billion dollars next week with reports claiming he is selling his Beats Electronics company to technology giant Apple.
The 49-year-old transformed from a legendary music producer to business mogul in 2008 when he launched his Beats by Dr Dre headphone range alongside music producer Jimmy Iovine but it looks as though he’s ready to sell it on and make a whopping investment for his bank account.
It has emerged that the rapper has sold it onto Apple, owner of the iPhone and iPad, for an eye-watering $3.2 billion, potentially making him the first billionaire hip-hop star.
If he does reach the incredible landmark, he may have to watch his back as there are a number of hip-hop stars whose bank balances are just about as big as their egos!
So just who are the richest moguls in hip-hop and how have they made their whopping fortunes according to Forbes?
3. Jay Z – $520 million
The 44-year-old is undoubtedly the most famous on the list and he’s raked in a pretty sweltering fortune, mostly due to the sale of his Rocawear clothing line in 2007 which went for $204 million. A year later, Hova snapped up a $150 million deal with Live Nation while his record and management label Roc Nation is worth nine figures. The added Roc Nation Sports branch sees Jay Z take a single digit from any of his client’s
1. P Diddy – $700 million
Surprisingly, Dr Dre isn’t number on the Forbes hip-hop rich list with Diddy earning the big bucks thanks to his new TV network, Revolt TV, his ongoing famous deal with Diageo’s Ciroc for which he receives eight figure annual payments and nine figure windfall if the company is sold! (Derrick Salters.
2. Dr Dre – $550 million
Of course, Dre has earned most of his incredible fortune from his Beats Electronics company which owns Beats By Dr Dre headphones and a streaming service. The company is valued at more than $1 billion and owns 65% market share of premium headphone industry
4. Birdman – $160 million
The YMCMB head honcho shares a $300 million fortune with his brother Ronald ‘Slim’ Williams from the record label which they launched 20 years ago. There’s also the YMCMB clothing line and GT Vodka deal.
5. 50 Cent – $140 million
While he started as simply a rapper, Fiddy has now amassed an impressive $100 million from the sale of VitmanWater in 2007 while he also has deals for SMS Audio, SK Energy, G-Unit Records.