Features

Four Successful Businesses You Didn’t Know Were Owned by Dr. Dre

BY Nii Ogbamey Tetteh October 27, 2023 7:49 PM EDT
Source: Instagram.com/@drdre @officialdrdrepage

American superstar Dr. Dre, whose real name is Andre Romell Young, is a multiple award-winning rapper, producer, and businessman who has been a major influence on hip-hop and rap music worldwide.

Known as the ‘father of rap’, Dr. Dre is reportedly worth over $850 million, making him one of the richest rappers in the world behind Kanye West, Jay-Z, and P Diddy.

His businesses span various industries in the United States and other parts of the world.

Aftermath Entertainment

Aftermath Entertainment has played a large part in Dr. Dre’s career. The rapper and producer was able to sign his own artistes, including 50 Cent, Eminem, and Kendrick Lamar, in addition to having a place to call home after leaving Death Row.

Co-founded with the legendary music executive and mogul Jimmy Lovine, Aftermath Entertainment was able to properly develop its artistes and carefully cultivate a roster of quality that would not get bogged down in politics as Death Row did. Aftermath-signed artistes frequently received their own stamps, and Dre was always willing to share his vast expertise.  Shady Records (Eminem’s label) and G-Unit Records (50 Cent’s label) are both subsidiaries of Aftermath.

Beats by Dre

Beats Electronics was founded by Dr. Dre alongside Jimmy Lovine of Interscope Records. In 2006, Dre noticed how even medium-budget earphones were not reflecting the sonics of his music accurately. Having been in the music business for over two decades, the producer knew that if audio engineers and producers dedicated their time to make sure the music is sonically perfect, then it is only right that the listeners hear that perfection.

Wanting to create an affordable and sonically accurate set of headphones, the Still Dre crooner called upon Lovine, and in partnership with the AV equipment company, Monster Cable Products, the two developed and manufactured a new line of headphones and speakers, Beats by Dre. People immediately noticed how tinny their previous earphones were, and demand began to grow. By 2013 Beats by Dre was worth $1 billion.

Being a businessman and wanting to see a profit a year later, the I Need a Doctor hitmaker sold the company to Apple for $3 billion in cash and stocks. The purchase became the largest acquisition in Apple’s history. Dre has also recently done a deal with Apple Music’s Apple Radio which now includes Beats One Radio.

Film Industry

Dr. Dre has also helped produce scores for dark comedies and horror films. The producer has worked extensively with Crucial Films, a subsidiary of New Line Cinema. His involvement in film production came through his longtime friend, director Phillip Atwell. In an interview, Dre explained, “This is a natural switch for me since I’ve directed a lot of music videos, and I eventually want to get into directing.”

Dr. Dre the Philanthropist

Dre has a reputation for spending his hard-earned cash, but that he also gives back to society. In 2013, he and his business partner, Lovine made a $70 million donation to the University of Southern California. The gift helped fund the Jimmy Lovine and Andre Young Academy for Arts, Technology, and the Business of Innovation.

In 2017, Dre donated $10 million to Compton High School to help build a new performing arts center. When asked about the gift, he replied, “My goal is to provide kids with the kind of tools and learning they deserve.” Dre has also supported a handful of other well-known charities, including the Global Fund, Michael J. Fox Foundation, and RED.