Dr. Dre didn’t become a billionaire by accident. Now the hip-hop mogul is making another lucrative business move. The iconic producer and MC is reportedly closing a deal to sell some of his music assets in a deal valued at north of $200 million.
First reported by Billboard, the sale is supposed to include two separate deals with Shamrock Holdings and Universal Music Group, which will purchase passive income streams like royalties from Dre’s solo albums and ownership of some master recordings, respectively.
The assets are said to generate $10 million annually, including one of Dre’s most iconic albums, “The Chronic,” and some of his N.W.A artist royalties.
Though Dre’s camp has not commented publicly on the sale of the music assets, his attorney, Peter Paterno, is said to be handling the deals. Paterno’s firm is the same one that sent controversial Georgia Congresswoman Marjorie Taylor Greene a cease-and-desist letter earlier this month for using his song, “Still D.R.E” in a promotional video without his permission.
Dre allegedly asked for $250 million when he brought the deal to market. Sources say that while he didn’t get that exactly, the value is still good. The deal comes roughly seven months after Snoop Dogg acquired Dre’s masters when he purchased Death Row Records from MNRK Music Group.
The transaction makes Dre the latest artist to follow an emerging trend of selling their master’s to music publishing companies. Fellow hip-hop MC Future sold his masters for $75 million to Influence Media Partners in 2022.
“I put everything into my music, and I wanted to make sure these were in good hands as I thought about the next chapter of these songs,” Future said at the time. “I’m proud to partner up with Rene and the team at Influence Media and send a signal that this music has timeless value. My music is my art, and these songs represent some of the most precious artwork of my career.”
Dre and Future are in esteemed company as artists like John Legend, Justin Timberlake, Murder Inc. founder and producer Irv Gotti and Justin Bieber also recently sold their masters.
According to Billboard’s report, Dre hasn’t sold his ownership stake in Aftermath Records.