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Forbes to Dr. Dre

Not So Fast ...

You're No Billionaire

5/9/2014 1:31 PM PDT BY TMZ STAFF

0509-dre-forbes
Dr. Dre
better stop counting his chickens before they hatch -- calling himself the "first billionaire in hip hop" -- a rep for Forbes tells TMZ, once the $3.2 Billion Apple deal is finalized ... the rap mogul will NOT hit the billion dollar mark.

Forbes Assistant Managing Editor for Wealth tells us ...  they've done the math, and after state and federal taxes ... Dre will be worth in the neighborhood of $800 million.

It appears Dre only owns 25% of the company ... so the max he'd make off the sale is $800 MIL.   After state and federal taxes, he's left with $480 MIL, and when you add in Dre's other assets, that's how Forbes now comes up with $800 MIL.  Close but no cigar.

The editor says, "Not quite enough to debut on the Forbes 400 but plenty for bragging rights.”

In the words of Ice Cube ... check yo self before you wrickity-wreck yo self.

0509-warren-buffett-tmz-01

214 COMMENTS

No Avatar
91.

Yurra Knutz    

Working on my first quarter million cash.
Where do I sign up for Dre lessons?

105 days ago
92.

MrsK    

....woMP WOMP WOOOOOOOMP.....

105 days ago
93.

Darryl Sewell    

Forbes is full of crap! They said Julia Dryfuss was a Billionaire and that's not true. Her father is and they assume that he is leaving his money to her. So you can't believe everything Forbes says..

105 days ago
94.

Chris    

So he's short 200 million? I mean like, how many lunches can you eat, it how many shirts do you really need?

105 days ago
95.

Reshay    

Obliviously someone cannot count being that Dr.Dre is worth $550m plus 480m EQUALS a total fortune of 1.03billion So he will however be Hip Hop 1st Billionaire

105 days ago
96.

Nicoleasm    

Is there a Forbes poorest list? I'd like to see where I rank on that

105 days ago
97.

2clean    

Dr.dre 23years old wit a billion.hell yeah.

105 days ago
98.

2clean    

Dr.dre can ride off in the sunset

105 days ago
99.

kngmerriweather    

FORBES had his net worth at $550M on 4/18 http://www.forbes.com/sites/zackomalleygreenburg/2014/04/18/dr-dres-net-worth-550-million-in-2014/
so how does that plus $480 not equal 1B+?

105 days ago
100.

ericcaro    

****in tmz what is up with all these spams and scams all over your commenting -????(((((((((((

105 days ago
101.

B4-I-FU-RU-18?    

Someone@ Forbes is sulking. They themselves couldn't make that much.

105 days ago
102.

HHAY    

Ok 2 things.. 1. Forbes figures are always guesstimates to say the least.. 2. But for the sake of an argument let's say Forbes figures are solid. Let's do the math...

If Dre's take home is a 800 mil, that after taxes and assets.. that would mean before taxes he's clearly over a billion.. So say as he said, He is the first hip-hop billionaire

105 days ago
103.

apple&oranges    

Dr.Dre is already worth $550 Million before the deal....so he is a Billionaire if you add the additional $800 Million...that's $1,350 Billion...do the maths!!!

105 days ago
104.

Donate For A Cause    

Www.donationsmall.webs.com help a worthy cause

105 days ago
105.

GM    

Okay, figuring in that this article is written by TMZ and could not be totally accurate when they sourced their numbers from Forbes, here is what I figured:

$800 million - his stake from the $3.2 billion sale pre-tax
$480 million - his stake from the $3.2 billion sale after-taxes.

$800 million - their claim his net worth will be when his previous worth is
combined with his net from the Beats sale.

So by subtracting $480 million (Beats sale) from $800 million (combined net worth after sale), we can learn that he, according to Forbes, was worth $320 million before the sale.

Now, here is where I think he can still lay claim to being a billionaire when he gets that check from Apple.

He is already at the $320 million mark before the sale. So when he gets that check from Apple, it will be for $800 million. It is not like a payroll check where they deduct taxes, social security, etc. and then pay you the net amount. The moment that he gets that $800 million check, according to their numbers, he will be worth $1.120 billion. Now, he won't remain that way because he will have to break off Uncle Sam his cut. But from the time he gets the Apple check and the time he actually files his taxes, he WILL be a billionaire. Hip hop's first billionaire. Kudos Dre. Dre!

105 days ago
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