After a year of nasty legal wrangling, Dr. Dre's divorce has finally reached an amicable conclusion. An expensive, but amicable conclusion.
Keep in mind that Dre's divorce was so stressful that in January of last year he ended up in the hospital with a brain aneurysm. When that happens, the cost doesn't really matter. Best to just cut a big fat check and move on with your life.
And that's exactly what just happened yesterday.
(Photo by Frazer Harrison/Getty Images)
According to the reported settlement terms, Dr. Dre and his wife of 24 years, Nicole Young, agreed upon the following key terms:
#1: Dr. Dre will cut Nicole a check for $50 million today.
#2: Dr. Dre will pay Nicole another $50 million in one year.
#3: Nicole agreed to vacate Dre's $21 million Malibu mansion by the end of the day January 1, with only her personal possessions.
#4: Nicole agreed to forfeit interest in his other Los Angeles properties, notably the Brentwood mansion he bought from Tom Brady and Gisele Bundchen in 2014 for $50 million. Today this property is likely worth close to $100 million.
#5: Nicole will get to keep a variety of vehicles, including a 2016 Ferrari, a 2002 Tesla, an Escalade and a Range Rover.
All in all not a bad compromise all-around if you ask me.
According to Dre's own legal filings, before paying Nicole $100 million his assets were worth a little under $500 million. That means Dr. Dre's net worth after the settlement will presumably be around $400 million. According to my best digging, Dre's $500 million estimate of his net worth included only had assets like real estate, cash, cars and stocks. I don't believe it includes the value of his future royalty streams and music catalog rights.
Either way, as of today Dr. Dre is legally a single man for the first time in nearly a quarter-century. A single man with $400 million in liquid assets, including $120 million worth of absolutely insane LA real estate where I'm sure he will soon be entertaining some of society's hottest bachelorettes. And don't sleep Nicole either! She's quite attractive herself even outside of her newfound $100 million net worth… ok technically $50 million today.
Congrats to the former couple!
