In his 1996 hit song “Been There, Done That,” Dr. Dre rapped, “I ain’t got no time to wait around for illuminati, I gotta make a billion before the year 2-G.” Whether or not you believe in the so-called “illuminati,” Dr. Dre was hinting at an underlying urgency he felt to strike it rich in a big way before society went down the drain. 14 years after the year 2000 and his last album, Dr. Dre has struck it big again. But is he a billionaire?
Apple (AAPL) is nearing a $3.2 billion acquisition to buy Dr. Dre’s Beats Electronics. The deal would be Apple’s largest acquisition ever.
Dr. Dre, a major shareholder in Beats, celebrated the fact that he was to become hip-hop’s first billionaire in a video published online, but reports have surfaced from Forbe’s and others that, in making the claim, the rapper known for the hip-hop albums “The Chronic” & “2001”, was forgetting one certain aspect of the whole deal: third-party extortion (a.k.a. taxes).
A spokesperson for Forbes magazine told TMZ that the $3.2 billion purchase of Beats by Apple won’t translate to a billion for Dre.
Forbes Assistant Managing Editor for Wealth told the entertainment website that, after state and federal taxes are stolen, Dre will be worth approximately $800 million, leaving him just shy of the financial milestone.
“Not quite enough to debut on the Forbes 400 but plenty for bragging rights,” the editor reportedly commented.
Dre owns 25% of Beats, so Forbes editors calculated the maximum he would earn from the Apple deal would be $800 million, which reduces to $470 million after taxes. Analysts then combined the net profit with Dre’s other assets to come up with the $800 million figure.
All this despite Beats having moved to Cork, Ireland in 2012 to avoid the long arm of the Internal Revenue Service (IRS).
What Dre Got Wrong
Dr. Dre first burst on the rap scene in the mid 80s with N.W.A. (Niggaz With Attitudes) and their hit, “Fuck the Police”. After being raped by the street gang called the Internal Revenue Agency we wonder if after he writes his $400,000,000 cheque to them, like a good slave, he will pen a follow-up, “Fuck the IRS”? It would be a great move for him to release the long-awaited “Detox” album after the new publicity regarding his billions.
But it is doubtful he would record such a song. Speaking out against the government isn’t good for your career in the USSA. Just ask Ice-T, who once had a hit, “Cop Killer” but now plays a cop on TV… like a good slave.
All that aside, however, what is really surprising is just how little street skills Dre has when it comes to finances. Like countless other wealthy celebrities he seems to have no clue as to how to structure his affairs like the real finance “gangstas” like Warren Buffett, George Soros or even Mitt Romney.
All those crackers have already figured out how to internationalize their affairs in order to effectively pay little or no tax on their multi-million and billion dollar enterprises.
Dre, on the other hand, seems to have little or no knowledge on how to do these things… which are all legal, by the way. And for that he will be writing nearly a half a billion dollar cheque to the largest organized crime and terrorism organization on Earth, the US government.
I see it all the time… countless celebrities and sports stars that are not getting any good financial advice to save themselves tens or hundreds of millions of dollars. The reason? Hardly anyone knows how to structure affairs internationally properly. If Dre had subscribed to The Dollar Vigilante (TDV) newsletter years ago he would have been much more informed. He likely pays his financial advisors or managers millions per year for shoddy advice that doesn’t even think outside of the US when it comes to structuring assets.
Worse, they likely will be advising him with his current wealth to be parked mostly in US stocks and bonds and have none of it offshore meaning that he could lose his entire fortune in the next few years as the US dollar hyperinflates, US capital controls continue to increase and the US enters into the Greatest Depression.
As I said above, this is typical of 99.99% of Americans with any sort of wealth today. Not only do they not know the problems ahead but they don’t even know that they don’t know.
What Dre Should Have Done
Our recommendation to Dre would be to look to internationalize his assets as soon as possible via services like TDV Wealth Management, get those assets into hard assets such as gold, silver, foreign real estate, bitcoin and investments into businesses that will survive The End Of The Monetary System As We Know It (TEOTMSAWKI). Get a second passport, renounce his US citizenship and live a legally tax-free Permanent Tourist/Prior Taxpayer (PT) lifestyle and never get extorted (taxed) again.
If he doesn’t him and countless others like him will quite possibly all be billionaires 5-10 years from now but a billion US dollars may be just enough to buy a nice pair of rims for his lowrider at that time.
You, on the other hand, don’t have to suffer the same fate if you follow that same advice and manage to survive TEOTMSAWKI and the Greatest Depression with the majority of your assets still intact at a time when even people like Dre have lost everything.
This collapse will be an epic moment in human history that will see fortunes dissolve for those who are asleep to what is going on and fortunes made for those aware. At this moment 99.99% of Americans have no idea what is about to happen in the coming years and they will get hurt tremendously. The 0.01%, about the percentage of the US population that is aware and reads TDV and related content, have the potential to make generational fortunes during that same period.
It won’t be easy but being armed with knowledge that most don’t have is a great advantage.
And, like rapper Biggie Smalls said, “If you don’t know, now you know!”
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