Dr. Dre — reportedly price an estimated $820 million — would possibly quickly inch nearer to changing into a bonafide billionaire.
The pioneering N.W.A. rapper and self-made leisure mogul is promoting an assortment of music revenue streams and different belongings to Shamrock Holdings and Common Music Group (UMG) in offers totaling between $200 and $250 million, sources informed Selection.
Billboard first reported the information as rumors have swirled in regards to 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 informed 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 self same sources imagine that a big chunk of the belongings will likely be acquired by Shamrock, with UMG procuring the remaining.
Moreover, UMG is about to accumulate the grasp recording of Dre’s seminal 1992 album “The Chronic,” which can revert to the Loss of life Row Information label that initially launched it. Dre’s protege Snoop Dogg, who featured on that file, coincidentally purchased Loss of life Row final 12 months.
Dre, whose actual identify is Andre Younger, has made critical enterprise strides during the last decade. Whereas 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 probably 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 Tremendous Bowl Halftime Present and just lately despatched Rep. Marjorie Taylor Greene (R-Ga.) a cease-and-desist letter for utilizing his music on-line.
Dre’s resolution 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, Web page Six reported. Nevertheless, 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 substantiate why “The Chronic” vanished from streaming providers resembling Spotify and Apple Music within the spring of 2022. Whereas the album’s rights will revert to Loss of life Row in August, it’s unclear whether or not Snoop will make it available.
The newfound Loss of life 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.