Dr. Dre And Jimmy Iovine Could Pocket More Apple Million
Although still not confirmed that Jimmy Iovine is leaving Apple at the end of this year, both Iovine and business partner Dr. Dre could make some serious money in Iovine the output.
According to Variety, after Dre and Iovine sold Beats Electronics to Apple for $2.6 billion in 2014, which received $400 million in shares as part of the offer. Now, with the 19 percent average increase during the last few years, that stock is worth around $700 million.
Iovine the holding of shares will vest in August, which means that we have reached a period in time in which it will acquire full ownership of the actions that you receive back in 2014.
Iovine currently do not have the official title of Apple, but there is a possibility that he might come on as a consultant at the tech giant.
"When Apple lost Steve Jobs it takes a creative dynamo to fill his shoes, someone with your passion and knowledge in the industry to fill that difficult situation, and very few were up to that task," Lisbeth Barron, president and CEO of Barron International Group told Variety. "Jimmy is one of the few."
Given the $ 700 million in shares of the division, Dre's net worth would increase substantially in 2018.
Last year, Dre was listed at #3 on the Forbes list of Five Richest Rapper list with a net worth of $740 million.
If Iovine of $700 million in shares in which is divided 50/50 with Dre, The Chronic of the legend could easily be the top of the list in 2018.