Dr. Dre will not be a billionaire after the deal with Apple has finalized
Forbes is probably warning Dr. Dre to stop being so happy about his money and it might be just too early for him to call himself the "first billionaire in hip hop". According to a rep from Forbes, after the $3.2 billion deal has been finalized, Dr. Dre will not be able to hit the billion dollar mark. Forbes Assistant Managing Editor for Wealth has revealed that after doing the calculations, Dr. Dre’s wealth will be marked at $800 million after the deal is finalized.
Dr. Dre’s share in the company is merely 25%, so that would leave him with $800 million after the sale of Beats. And when the taxes have been deducted from this share, he will have $480 million. The $800 million was reached by adding all other assets of Dr. Dre as well. The Forbes editor says that this is "Not quite enough to debut on the Forbes 400 but plenty for bragging rights.”
Doc Rivers Gets 5-Year Extension With Los Angeles Clippers
The Los Angeles Clippers gave president of basketball operations and head coach Glenn "Doc" Rivers a five-year contract extension on Aug. 27 which runs through the 2018-19 NBA season. It was new Clippers owner Steve Ballmer's first major move since officially purchasing the franchise earlier this month.
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