Dr. Dre is on his way to a billion, but he isn’t quite there yet.
The legendary hip-hop producer is excited about the expected $3.2 billion sale of his Beats Electronics company to Apple, but he may have prematurely declared himself “the first billionaire in hip-hop” in a Instagram video, which has since been taken down.
According to Forbes.com, if Apple acquires Beats for the reported $3.2 billion and Dre cashes in on his 20 to 25 pecent stake of the company, his net worth would go from an estimated $550 million to an estimated $800 million. The projection factors in capital gains taxes, which could put a sizable dent in Dre’s payday.
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