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It looks like Dr. Dre has gotten it right this time. In 2008, Andre “Dr. Dre” Romelle Young teamed with Jimmy Iovine, CEO of Interscope Records, and a handful of other partners to launch Beats By Dr. Dre, which now sells more than half of the country’s premium headphones ($100 and up). Beats By Dre can also be found in HP Laptops, HTC cellphones and in Chrysler automobiles. The “Good Dr.” has placed himself and his brand into the manufacturing infrastructure and is making a pretty penny. With $110 million in pretax earnings, Dr. Dre is this year’s Hip-Hop Cash King. (Now you know why you are still waiting for the release of Detox !)
Forbes list mainstays Diddy ranks No. 2 with $45M earned this year, mostly from his share of profits from Diageo’s Ciroc vodka; Jay-Z lands at No. 3 with $38M with more than half of his earnings coming from his diverse business ventures including ownership stakes in cosmetics company Carol’s Daughter, the Brookyln Nets and a joint venture with battery maker Duracell.