Dr. Dre has his sights set on becoming a self-made billionaire.
The legendary rapper is nearing a deal to sell his music catalog and streaming ventures for more than $200 million, Variety reported Wednesday.
Dre, who is estimated to be worth $820 million, is said to be gearing up to sign on the dotted line to hand over ownership to Shamrock Holdings and Universal Music Group.
The Beats Electronics co-founder’s package is set to make him a cool $10 million a year, according to the report. It includes percentages of two of his solo albums, his share of N.W.A. artist royalties, his producer royalties and the writer’s share of his song catalog.
The “Straight Outta Compton” hitmaker — who stopped Rep. Marjorie Taylor Greene from further using his music on social media earlier this week — shopped the package via his lawyer Peter Paterno, Billboard reported.
UMG would acquire “The Chronic” recording, which will subsequently transfer ownership from Dr. Dre to Death Row Entertainment in August, per the outlet.
The package reportedly does not include ownership rights to the label Aftermath, which Dre co-owns with Interscope Records.
The lucrative offer comes after the Grammy winner agreed to pay his ex-wife, Nicole Young, $100 million in a property settlement agreement in Dec. 2021.
The agreement said Dre would keep their real estate properties and rights to his music and stock options, including the money earned from his sale of Beats by Dre.
Young, meanwhile, was allowed to keep four vehicles: a Rolls Royce, Cadillac Escalade, motorcycle and Range Rover. She also got her clothing, jewelry, bags and furs, which are estimated to be worth millions.
COMMENTS