Source: Craig Barritt / Getty
Earlier this month, Forbes reported Jay-Z had officially earned the title of Hip Hop’s First Billionaire. In a new report, the publication reveals a few of the mogul’s peers are not too far behind. Forbes places Dr. Dre at a net worth of $800 million, and Diddy comes in third with an impressive $740 million and rising.
If you thought the Beats by Dr. Dre deal with Apple made the OG a billionaire, think again…
“It’s been five years since Dr. Dre proclaimed himself a billionaire, but Forbes still doesn’t agree with the assessment made in the wake of Apple’s $3 billion 2014 purchase of his Beats By Dr. Dre headphone line,” the site reports. “The superproducer owned an estimated 20%-25% of the company at the time; of the $2.6 billion Apple paid upfront in cash, another $295 million was earmarked to cover debt payments, leaving Dre with a little over $500 million.”
As for Diddy, Forbes states he might be the most likely candidate to join Jay-Z in the billionaires club, thanks to Ciroc, “the main driver of his fortune.” Behind Hov, Dre, and Puffy are Kanye West with $240 million and Drake with $150 million.
See the full break down here.
