LOS ANGELES (CelebrityAccess) – Iconic rapper and producer Dr. Dre is set to make over $200 million by selling some of his musical assets.
According to reports from Billboard and numerous other news outlets, the legend (born Andre Young) is closing in on two deals to offload a share of music income streams and other assets to Shamrock Holdings and Universal Music Group (UMG).
The deals were handled by Dre’s lawyer, Peter Paterno, who originally pitched the deals for approximately $250m. Hiphopdx.com reports the final sale price won’t be that high, but the figure will be above $200m.
The assets, which net almost $10 million in annual income, include royalties from two solo albums and his share of N.W.A’s artist royalties, producer royalties, and the songwriter’s share of his song catalog of which he doesn’t own publishing. The deal could include tracks from the 1992 hit album, The Chronic. These account for between 75 and 90 percent of the value and are likely being acquired by Shamrock. UMG is said to be purchasing the remaining percentage generated by owned assets, including the master recording of The Chronic.
UMG’s portion also includes the “Doctors” share of Kendrick Lamar’s releases through the Aftermath label’s joint deal with Interscope and Top Dawg Entertainment.
Dre’s ownership stake is not for sale in Aftermath, which he founded in 1996 and co-owns with the UMG-owned label Interscope.
While Dre’s catalog is expected to grow his net worth, he remains active in the studio and could return with new music in 2023. Last year, Snoop Dogg announced that he and Dre are working on a new album called Missionary, the spiritual successor to Snoop’s 1993 debut, Doggystyle.
“I’ma tell you this; you’re the first one to hear this: me and Dr. Dre have been working on an album for the past two months,” Snoop told Stephen A. Smith on the sports personality’s Know Mercy podcast. “It’ll be done in November. It’s produced by Dr. Dre, and it’s our 30th anniversary to Doggystyle.”
