Born and raised in Compton, California, nobody knew how much this person was going to change the face of music. Born as Andre Romeo Young, Dr. Dre has been one of the most influential figures in modern music for the past few decades. Throughout his entire career, he has managed to amass an empire of fame and fortune—one that is reported to be roughly $830 million. How did Dr. Dre accumulate such an amount in his career? Given a lot of hard work and dedication, Dr. Dre also did a few other things to further his fortune and continue his financial growth.
Dr. Dre started his career working with different rap groups. He began his career as a member of the World Class Wrecking Cru before joining the infamous rap group N.W.A. alongside Ice Cube, DJ Yella, Eazy E, and MC Ren. The N.W.A. platform gave Dr. Dre an opportunity to rise above his position. He eventually left the group and started working solo. His first solo album, The Chronic, was released in 1992 under Death Row Records, a company founded by Suge Knight. The album was a hit, and Dre ended up with his first Grammy the following year for his single “Let Me Ride.”
Just a few years after, Dre left Death Row Records in 1996 to start his own label, Aftermath Entertainment. He released a fewBeing CEO and Founder of the company, Dre has brought us some of the rap and hip hop industry’s best such as Eminem, Kendrick Lamar, 50 Cent, Nas, and Busta Rhymes among many others.
Dre continued to work hard on his music, but he also focused a lot of his efforts to help other artists build up on their dreams. As of today, Dre has won 6 Grammy awards including Producer of the Year.
One of the things that set Dr. Dre apart from his peers is his ability to transform his talent and use it in other ways. He had an opportunity to venture out of music, and so he did. He dabbled into a little bit of acting, giving him the opportunity to make money in other ways. He can be seen in a few movies such as Training Day and Set It Off.
Apart from his music and acting, what sent Dre’s fortune brimming to the top is when he truly became an entrepreneur. In 2006, he founded a company alongside Interscope Records’ Jimmy Iovine focused on creating headphones and speakers that feature higher quality sounds. The result was Beats Electronics. Since then, they’ve produced the famous Beats by Dre product line, a subscription-based service called Beats Music, and a few others.
In 2011, Dre sold 50% of his stakes to HTC, a Taiwanese smartphone company. He gained $310 million from that transaction. HTC sold 25% of those stakes back to the company in 2012 and the rest of the stakes were sold back again in 2013. By 2013, Beats Electronics had a valuation of over $1 billion; an impressive feat considering the product line averages at a selling price of at least $100.
In 2014 under a $3 billion cash deal, Apple Inc. bought the company out. This remains to be Apple’s largest inquisition to date, and it was expected to turn Dr. Dre into the first billionaire in hip hop, making him the richest man in the industry at that point and surpassing P. Diddy and Jay-Z.
These days, Dr. Dre enjoys his fortune and spends it well. His last studio album, Compton, was released in 2016 and was nominated for a few awards. He was also credited as a music producer for the 2017 movie that chronicled his life along with the other N.W.A. members, Straight Outta Compton. His last film work was released in 2017, the documentary The Defiant Ones. Through his excellent work ethic, he has remained to be relevant in the business of music, film, and entrepreneurship. This is at the very core of how he has grown his empire to be worth $830 million. It isn’t likely that the industry will ever come across a unique individual such as Dr. Dre again. Music, especially rap and hip hop, is what it is today because of his amazing work and contributions in the past and the present.