Forbes has rubbished Dr. Dre’s claim that he’s the ‘1st billionaire in hip-hop’ after reaching a $3.2 billion deal with Apple over his Beats headphone company, saying that if the deal gets finalized, he won’t still be a billionaire.
Dre had celebrated his achievement in an all-night drinking party with friends after the news broke on Thursday, and that was where he crowned himself hip-hop’s first billionaire.
But on Friday, Forbes Assistant Managing Editor for Wealth told TMZ that Dre actually owns 25% of Beats and so the highest he can get from the deal is $800 million. After all the federal and state taxes have been withdrawn, he will be left with $480 million … and when you add up his other assets, he will worth around $800 million – $200 million short of the billion mark.
‘Not quite enough to debut on the Forbes 400 but plenty for bragging rights,’ the editor added.
Translation: Don’t count your chicks before they hatch.