Beats Headphones Sale Falls Short After Taxes
FILE This May 15, 2024 file photo shows hip hop mogul Dr. Dre as he announces a $70 million dollar donation to create the new "Jimmy Iovine and Andre Young Academy for Arts and Technology and Business Innovation," at the University of Southern California, in Santa Monica, Calif. The audio cable company Monster was in a coveted position as the decade began after launching what would become the hottest headphones on the market, beats by Dre. The audio devices had hip hop/production legend Dr. D
Dr. Dre may not be the "first billionaire in hip hop," after all.
Forbes Assistant Managing Editor for Wealth told the website after state [عزيزي الزائر يتوجب عليك التسجيل لمشاهدة الرابط للتسجيل اضغط هنا] and federal taxes are taken into consideration, Dre will be worth [عزيزي الزائر يتوجب عليك التسجيل لمشاهدة الرابط للتسجيل اضغط هنا] approximately $800 million, leaving him just shy of the financial milestone.
"Not quite enough to debut on the Forbes 400 but plenty for bragging rights," the editor reportedly said.
Dre apparently owns only 25 percent of Beats, so Forbes editors forecast the maximum he would [عزيزي الزائر يتوجب عليك التسجيل لمشاهدة الرابط للتسجيل اضغط هنا] earn from the Apple deal would be $800 million, which [عزيزي الزائر يتوجب عليك التسجيل لمشاهدة الرابط للتسجيل اضغط هنا] reduces to $480 million after taxes.
Analysts combined the $480 million net profit with Dre’s [عزيزي الزائر يتوجب عليك التسجيل لمشاهدة الرابط للتسجيل اضغط هنا] other assets to come up with the $800 million figure.
The number would put Dre in front of P. Diddy, whose estimated net worth clocks in at $700 million, New York Daily News reports.
Dre appeared to announce the deal in a Facebook post that went viral on Friday.
A video shows the producer and singer Tyrese celebrating amid claims Dre had inked the multi billion dollar deal.
"First billionaire in hip hop, right here on the motherfking west coast," Dre said.
Dre launched beats Music in 2024 with music executive Jimmy Iovine.
The company makes his popular beats by Dr. Dre headphones.
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