Dr. Dre to pay $100M to ex-wife Nicole Young in divorce settlement
29 December 2021, 10:59
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The hip-hop mogul has been forced to pay $100 million to his ex-wife in their divorce settlement.
Dr. Dre has agreed to pay $100 million to his ex-wife Nicole Young after the estranged couple finalised a divorce settlement.
According to TMZ, the 56-year-old rapper is 'delighted' to have to 'only' pay a fraction of his $820 million fortune.
Nicole Young had originally been seeking half of the former NWA member's assets. However, her requests weren't met as they had previously made a prenuptial agreement.
Dre will be able to split up his payments, with Young receiving $50 million now and another $50 million in one year, according to their prenup.
Dre will be able to keep seven properties that the former couple had shared together. The hip-hop mogul will be holding on to their Malibu home, as well as two properties in Calabasas.
He will also be taking four more properties in Los Angeles – one of which is a mansion in the city's tony Brentwood neighbourhood, worth $100 million.
Nicole, 51 was unable to dip into Dre's music money as he is able to keep the rights to his master recordings.
The major hip-hop rapper and producer (real name Andre Young) will also be able to keep all of his trademarks and any commercial partnerships and trusts that he has invested in.
After Dre sold his Beats by Dre empire to Apple, the entrepreneur received a major chunk of stock in the company, which he will also keep.
However, the pair's vehicles will be divided a bit more evenly, with Nicole being able to keep four, while her ex-husband will keep six.
The 51-year-old lawyer and socialite will be able to keep all of her pricey jewels, as well as all of the funds that she had accumulated throughout their marriage.
However, she will be responsible for paying her own legal fees, which would have amounted to millions of dollars after the dragged out divorce battle.
TMZ sources close to Dre claimed that he would have been willing to pay Nicole more in a settlement if she had agreed to his 2020 terms.
'She could have even been on the field for the Super Bowl halftime show as a friendly ex-wife,' one insider claimed.
The former couple had a lengthy divorce battle over potential spousal support for Young, however, that has been closed off in the final settlement. Dre's spread out payments of $100 million should be the final money Nicole gets from him.
A temporary order from the judge dealing with the divorce required Dre to pay Young $293,306 per month in spousal support. However, the final agreement ends those payments.
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Dre had previously made a one-time payment of $2 million to his ex Nicole, along with $500,000 for her legal fees.
As for now, it's unclear if those funds will be deducted from the final settlement, or if she will get to keep it.