Tag: Dr. Dre

The Forbes Five: Hip-Hop’s Wealthiest Artists in 2015

Last May, shortly after word began to spread that Dr. Dre had sold his eponymous headphone line to Apple, the superproducer made a proclamation: rap’s first billionaire was about to be crowned, and he hailed from Los Angeles.

“The first billionaire in hip-hop, right here on the [expletive] West Coast,” exclaimed Dre in a video clip that went viral almost instantly. But the deal, whose value was initially reported at $3.2 billion, ended up at an even $3 billion in cash. After taxes, Dre’s 25% stake left him with a $500 million windfall–$100 million more than FORBES estimated his stake to be worth last April–and a net worth of $700 million.

Amazingly enough, Dre is not the richest man in hip-hop; that honor goes to Diddy, who clocks in at $735 million. The news may come as a surprise to many, but while Dre’s wealth derived from a single jackpot idea, Diddy’s is the product of his interests in a slew of companies, a handful of which could one day give him a Beats-esque exit.

Diddy has a deal with Diageo’s Ciroc vodka that guarantees him a split of the proceeds if the brand is ever sold, an event that would surely land him a nine-figure check. He also owns a controlling stake, or close to it, in clothing lines Sean John and Enyce, alkaline water brand Aquahydrate, new tequila DeLeon and multimedia network Revolt. Diddy founded the latter as a sort of next generation MTV with a renewed focus on music.

“Revolt got built out of the frustration Sean was having with music media being able to get his albums out there,” says Revolt chief executive Keith Clinkscales. “Sean has been aggressive in being sure that we put the power of the platform in the hands of musicians to be able to create with fans in their authentic voice.”

2015 Top 5 Hip-Hop Artists By Wealth:

  1. Diddy        $730 Million
  2. Dr. Dre      $700 Million
  3. Jay Z        $550 Million
  4. 50 Cent    $155 Million
  5. Birdman   $150 Million

Diddy isn’t the only hip-hop mogul with that aim. Jay Z, who ranks third with a fortune of $550 million, purchased and relaunched Scandinavian streaming service Tidal this year with promises of creating an artist-owned Spotify competitor set apart by exclusive content.

Though the star-studded rollout struck some as tonedeaf—prompting a flurry of rich-getting-richer criticism, and perhaps a change in strategy for Jay Z—Tidal is still early in its life as a company, and may yet prove to be an increasingly valuable asset to Jay Z and to the whole industry.

“It’s alerting people that streaming is a viable option for them to listen to music,” says Jay Frank, chief of digital marketing outfit DigMark, of Tidal. “The more that we have positive conversations on that, the more opposition we have to grow the business.”

50 Cent and Birdman round out the list of five, with fortunes of $155 million and $150 million, respectively. The latter’s total dipped slightly due to uncertainty surrounding Cash Money Records, by far his biggest asset, which has been dogged by rumors of the departure of big acts including superstar Lil Wayne. Continue reading “The Forbes Five: Hip-Hop’s Wealthiest Artists in 2015”

Ice-T Breaks Down Why “Art of Rap” Festival in July is Important to Hip-Hop, Art and Music

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“The Message” by Grandmaster Flash and the Furious Five is by far one of the most important records known to man.  A “total knock out of the park” as Public Enemy’s Chuck D once told Rolling Stone, the 1982 record marked a pivotal moment for hip-hop.  The first of its kind, at seven-minutes rapper Melle Mel and co-writer Duke Bootee traded clear-cut lines about the everyday struggle and decay in America’s ghettos. From the ubiquitous “broken glass” to the “junkies in the alley” and how the kids that are “born with no state of mind” end up succumbing to the live fast, die young statistic. It’s an monumental piece of recording that perfectly demonstrates the foundation on which hip-hop was founded.

Beyond that though, it’s also the very record that Mickey Bentson, co-founder of The Universal Zulu Nation, and Ice-T brought up during a phone conversation with REVOLT. “Grandmaster Flash and Melle Mel made one of the hardest records ever: “The Message” with no cursing. Wow. That’s unbelievable,” Bentson exclaimed.  “Where you gonna get all this stuff at? Nowhere but at the Art of Rap Festival baby.”

In 2012, Ice-T chronicled the rich foundation and importance of the hip-hop into a one hour-and-a-half epic, better known as the critically-acclaimed documentary, “Something From Nothing: The Art of Rap.” An intimate journey that uncovers the layers, elements, and science of hip-hop, the film took it back to the essence, while bringing along famous faces like Dr. Dre, Kanye West, Eminem, Q-Tip, Chuck D and many more for a discussion on the art form. Three years since he opened the conversation, Ice-T,  joined by Bentson, has added another layer (and new meaning) to the “The Art of Rap,” with an inaugural event he is calling “the most prolific and essential hip-hop festival ever.”

The Art of Rap Festival, which will take place over the course of two days in California, features a dream team line-up of emcees that range from Big Daddy Kane to Rakim, Afrika Bambaataa, EPMD, Doug E. Fresh, Grandmaster Melle Mel, King T, Kurtis Blow, Biz Markie, and more. Just like the film, the festival, which will feature co-headliners including Game and Ice-T at its July 18th Irvine date and Ice-T at the July 19th Mountain View show, takes it back to the essence.

Speaking about the summer must-attend festival, Ice-T and Mickey Bentson hopped on the phone with REVOLT and discussed just how and why this event came together.

In 2012, Ice-T, you released this film and now it has transformed into a full blown festival. How did you two come together for this?

Ice-T: Well, [The Art of Rap] happened for me, I was sitting around and for a while when you would say you an emcee, people actually had this heavy respect for you. Well the point that when you would say ‘rapper,’ people would kind of look at you like a clown. Rappers were kind of acting up and I didn’t like that, so I said you know what I want to make a film that makes people really respect the art of rap. It’s not a game, it’s real stuff. I worked really hard on my music, I grew up with [Big Daddy] Kane and Rakim and people like that, and I said this is serious business. So we shot the film, it did what it was supposed to do, make people understand that it is an art form and the next obvious move was to take it on the road. The Art of Rap Tour is meant to be about the craft and the culture of hip-hop, so we go all the way from The Soulsonic Force to somebody like The Game.

As you mentioned, this festival is about the craft and culture. Why is this such an important element for this event? 

T: We want people to take pride in what they do. If you take pride in your music, you’re going to do good music. If you look at music as just a way to get paid, then you might throw up any ol’ shit, and you also ain’t gonna represent it right, [because] when you get interviewed you gonna say any ol’ s*** — and that bothers the artists. That’s like me coming into jazz and not knowing who Miles Davis was, and there’s going to be people who’s going to have feelings about that.  Continue reading “Ice-T Breaks Down Why “Art of Rap” Festival in July is Important to Hip-Hop, Art and Music”

It’s Official: Apple Adds Dr. Dre With $3 Billion Beats Deal

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Rap is coming to Cupertino in a big way.

After weeks of rumor, Apple finally announced it has acquired headphone maker Beats Electronic for $3 billion, including $2.6 billion cash up front and approximately $400 million in stock that will vest over time. As part of the deal, Beats co-founders Dr. Dre and Jimmy Iovine will join Apple (AAPL -0.26%) in undisclosed roles.

“Music is such an important part of all of our lives and holds a special place within our hearts at Apple,” CEO Tim Cook said in a statement. “That’s why we have kept investing in music and are bringing together these extraordinary teams so we can continue to create the most innovative music products and services in the world.”

RELATED: Dr. Dre, Jimmy Iovine Donate $70M for New Arts and Technology Center at USC

This acquisition is Apple’s biggest ever, and largest since it brought back Steve Jobs in 1997 though a $400 million purchase of NeXT. However, the $3 billion price is still just a tiny fraction of the company’s $150 billion cash reserves, and Beats’ estimated annual sales of $2 billion represents barely over 1% of Apple’s $171 billion revenue last year.

Continue reading “It’s Official: Apple Adds Dr. Dre With $3 Billion Beats Deal”

Dr. Dre, Jimmy Iovine Donate $70M for New Arts and Technology Center at USC

Music industry entrepreneur Jimmy Iovine, left, and hip-hop mogul Dr. Dre at a Grammy Party in Los Angeles. Dre, whose real name is Andre Young, and Iovine have donated a combined $70 million to create a new institute at the University of Southern California, the school announced Tuesday, May 14. (Photo by Todd Williamson/Invision/AP, file)
Music industry entrepreneur Jimmy Iovine, left, and hip-hop mogul Dr. Dre at a Grammy Party in Los Angeles. Dre, whose real name is Andre Young, and Iovine have donated a combined $70 million to create a new institute at the University of Southern California, the school announced Tuesday, May 14. (Photo by Todd Williamson/Invision/AP, file)

LOS ANGELES (AP) — Hip-hop mogul Dr. Dre, whose real name is Andre Young, and music industry entrepreneur Jimmy Iovine have donated a combined $70 million to create a new institute at the University of Southern California, the school announced Tuesday night.

The huge gift from the two who have been music business partners in the past will be used to create the Jimmy Iovine and Andre Young Academy for Arts, Technology and the Business of Innovation.

The academy will provide a special four-year program for undergraduates whose interests span several fields from marketing to computer science to visual design and other arts. It will include one-on-one faculty mentoring with professors from programs around the university and interaction with entertainment industry luminaries.

Continue reading “Dr. Dre, Jimmy Iovine Donate $70M for New Arts and Technology Center at USC”

Dr. Dre Tops Forbes List of Highest Paid Musicians of 2012

Dr. DreDr. Dre is paid in full.

The ‘Ain’t Nuthin But a G-Thang’ rapper and producer ranked number one on a recently-released Forbes list of the world’s 25 highest paid musicians. He made an estimated $110 million between May 2011 and May 2012. Dr. Dre also topped the Forbes’ list of Hip-Hop earners in September.

The majority of Dr. Dre’s earnings comes from the sales of his line of headphones, Beats by Dre, rather than his music.

article via blackenterprise.com

 

 

Dr. Dre Tops Jay-Z & Kanye West As Biggest Earner on Forbes’ “Hip-Hop Cash Kings” List

*Dr. Dre has out-earned Sean “Diddy” Combs and Shawn “Jay Z Carter to land atop Forbes magazine’s Hip-Hop Cash Kings list, with earnings of $110 million in the past year.

The financial haul, made between May, 2011, and May, 2012, was largely from sales of his Beats By Dre headphones.  Diddy came in a distant second with $45 million, while Jay Z banked $38 million to land third.

His “Watch The Throne” partner Kanye West was close behind with $35 million.  Lil Wayne placed fifth with $27 million, while his Cash Money Records cohorts Drake, Bryan ‘Baby’ Williams and Nicki Minaj – the only female in the top 10 – all follow in sixth, seventh and eighth position, respectively.  Eminem and Ludacris round out the rest of the top 10.
Read more at http://www.eurweb.com/2012/09/dr-dre-is-forbes-new-hip-hop-cash-king/#QgLH0OHch5XoWVdL.99