Dr Dre Made 175 Million Off Beats By Dre Sale

The most amazing part of this announcement is the windfall that Dr Dre himself is rumored to be receiving. For agreeing to lend his name and image to the brand it has been reported that his equity stake in the partnership was north of 50% which is leading many insiders to speculate that his take from today’s HTC announcement is somewhere in the $150 – $175 million range! Which means Dr Dre’s net worth has roughly doubled overnight. In a statement Iovine said: “The HTC and Beats by Dr. Dre partnership is an opportunity for two world-class companies to redefine the smartphone industry and define the future. For Beats by Dr. Dre, this represents a critical step in our continued mission to clean up the destruction of audio caused by the digital revolution and reengineer how sound is delivered, so the consumer feels the music the way that the artist intended.”