Dr. Dre leapfrogged Jay Z in FORBES’ latest rankings of hip-hop’s richest artists, claiming the number two position as his net worth soared to an estimated $550 million. Now it looks like the Beats cofounder could lay claim to the top spot in a matter of days.
Late Thursday night, the Financial Times reported that Apple was in talks to buy Beats for $3.2 billion; the deal would be the computer giant’s largest acquisition ever. Dre’s stake in Beats currently stands at somewhere around 20-25%; we valued the company at $2 billion in our latest round of estimates.
A sale for $3.2 billion would nearly double the value of Dre’s holdings, though capital gains taxes could take a bite out of his big payday, likely leaving him with a net worth in the neighborhood of $800 million. It’s not quite enough to land on the Forbes 400, but it would easily make him hip-hop’s richest man, topping current champion Diddy by $100 million.
Apple’s Beats buyout is still not official, and could certainly fall through. In the meantime, though, Dre appears set to break new ground in the business of music yet again.
Let’s look at the top five Richest Men in Rap….’before’ this announcement.
Diddy leads the pack with an estimated fortune of $700 million, an increase of $120 million over his net worth last year. Dr. Dre, ranks second with $550 million, and Jay Z is in third place with an estimated $520 million. Next up is Bryan “Birdman” Williams, whose net worth would be over $300 million if he didn’t share his fortune with brother Ronald “Slim” Williams. The duo cofounded Cash Money Records two decades ago. Rounding out the list is 50 Cent, who owes most of his fortune to his $100 million haul from the sale of Vitaminwater in 2007. Now he’s trying to repeat the feat with companies like SMS Audio and SK Energy beverages.