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Dr. Dre Reportedly Selling Music Assets for Over $200 Million
Dr. Dre is cashing in on his catalog.
The super-producer is reportedly nearing a deal to sell his music income streams and assets in a deal valued at over $200 million.
According to Billboard, the passive income streams, which generate almost $10 million in annual income, are being acquired in two separate deals, one with Shamrock Holdings and Universal Music Group. Those deals are said to be close to completion.
The Shamrock deal comprises 75% to 90% of the package’s revenue and includes Dre’s artist royalties from 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 where he doesn’t own publishing.
The remaining 10% to 25% being acquired by Universal Music Group includes the master recording of his solo debut album The Chronic, along with his share of Kendrick Lamar’s music through his Aftermath/Interscope joint venture with Top Dawg Entertainment.
Dre was seeking $250 million when the deal came to market. The combined payments will collectively bring in over $200 million, a 20 times multiple.
The lucrative sale would boost Dre’s already sizable fortune, putting him among the top 3 earners in hip-hop alongside JAY-Z and Diddy. He was most recently ranked No. 5 on a 2022 list of hip-hop’s wealthiest artists, with an estimated net worth of $400 million.
Back in 2014, Dre sold his stake in Beats by Dre to Apple as part of a $3 billion deal. He recently took a financial hit when paid $100 million to his ex-wife Nicole Young as part of a divorce settlement.