Reports have hit the web that Apple is in negotiations to buy Beats, owned by Jimmy Iovine and Dr. Dre, for $3.2 billion. Given Dr. Dre’s recently estimated net worth of $550 million, it is quite possible sale of his equity stake in Beats could make him Hip-Hop’s first BILLIONAIRE. Until recently, it was all but given that Jay Z would be the first Hip-Hop mogul to cross the threshold, with Sean “Diddy” Combs being the other most likely contender. But, after leaving both Ruthless and Death Row Records virtually penniless, it looks like, once again, they Forgot About Dre…Salute to the good Doctor!
When Shaquille O'Neal was drafted into the NBA, he spent the first million he made earned in thirty(30)minutes. O'Neal then received a phone call from his banker, who literally scolded him, and told him he would end up joining the list of former athletes who ended up broke if the current trend continued.
O'Neal decided to sharpen up his education on business and finance. He returned to college, completing hid Bachelor's degree, followed by his Masters in Business Administration(MBA) and lastly, his "EARNED" Doctorate in Education(Ed.D.) That's right, he is now Dr. Shaquille O'Neal.
As of today, "Doc Shaq" is the joint owner of 155 Five Guys Burgers restaurants, 17 Auntie Annie's Pretzels restaurants, 150 car washes, 40 24-hour fitness centers, a shopping center, a movie theater and several Las Vegas nightclubs.
In addition to his business holdings, O'Neal still earns $22 Million dollars a year(roughly $423,000 per week) from endorsement deals with Arizona Cream Soda, Icy Hot, Gold Bond, Buick, Zales, and at least a half dozen additional corporate sponsors. He is also a studio analyst for TNT.
In Shaq's own words, "It's not about how much money you make, the question is are you educated enough to keep it?" #financialliterate #educationempowerment
Keith H. Burgess, Project Leader, The H.I.P. H.O.P. Movement Community Enrichment and Economic Development Program