Posts Tagged ‘Dr. Dre’

Billionaire Beats

Friday, May 9th, 2014

by Writing Battle Rap History

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Dr. Dre & Jimmy Iovine

Dr. Dre & Jimmy Iovine

Dr. Dre may become Hip Hop’s first billionaire.  According to Gizmodo, as soon as next week Apple, Inc. may announce to the public it’s largest acquisition in the company’s history, a $3.2 billion dollar purchase of Dr. Dre and Jimmy Iovine’s, Beats Electronics headphones.  Forbes Magazine recently listed the top five Hip Hop moguls who had the highest net worths, and Dr. Dre came in at number two just under Sean Combs, at an estimated $550 million dollar net worth.  This deal would only add to his fortune as he is slated to make 1 billion dollars out of the deal.  Click here to read the rest of this article.

Hip-Hop’s Purchasing Power

Tuesday, May 6th, 2014

by Writing Battle History

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Donald Sterling - Los Angeles Clippers franchise owner

Donald Sterling – Los Angeles Clippers franchise owner

The Donald Sterling ordeal was something else!  After being surreptitiously recorded ranting his feelings about black people to his mistress, V. Stiviano, Sterling’s appallingly primitive views on race set in motion a tidal wave of disgust throughout the national media.   The width of his racism was captured in his infamous quotes.  Speaking of his black players, “I support them and give them food, and clothes, and cars, and houses.”  He continues, “I’m just saying, in your lousy fxxxing Instagrams, you don’t have to have yourself walking with black people,” and “Don’t put him [Magic Johnson] on an Instagram for the world to see so they have to call me. And don’t bring him to my games.”

Though Stiviano is racially mixed, post-racial America’s charge on a boldly different perspective on race and race relations hasn’t capitulated Sterling’s D.W. Griffith-aesthetic.  Because of this, NBA Commissioner, Adam Silver fined Sterling $2.5 million dollars in addition to banning him from the NBA “for life.” Among more interesting things is that the NBA is taking action to force Sterling to sell his $575 million dollar franchise, that could sell for upwards of $1 billion dollars.  There are plenty of sharks roaming the shores of the LA Clippers’ franchise; filthy rich sharks, and some famed rappers are a part of this pod.

If the NBA’s board of governors can force Sterling to sell, a roll call of potential buyers are ready.  With a combined net worth of over $60 billion dollars, the most likely to win a bidding war are business tycoons Oprah Winfrey, David Geffen and Larry Ellison.  Guggenheim Partners, Magic Johnson, and Mark Walter are another group of bidders that have a good shot at the LA Clippers.  The sharks that are least likely to win in a bidding war are rappers. Sean Combs, Dr. Dre, and Rick Ross have all publicly expressed interest but compared to the above mentioned, probably lack the capital needed to purchase a majority stake.

They can afford to be minority owners, however.  Nelly is a minority owner of the Charlotte Bobcats and Jay-Z recently sold his minority stake in the Brooklyn Nets.  And Drake has partnered with his hometown team, the Toronto Raptors, helping them with a variety of initiatives, including launching a clothing line in conjunction with the franchise.  Click here to read the full article.