American rapper and record producer, Andre Romelle Young who is known professionally as Dr. Dre, has agreed to pay $100M to his ex-wife Nicole Young – $50M now and the balance in a year.
Gatekeepers News reports that the rapper and Nicole have signed the asset sharing deal.
Dr. Dre’s wife was supposed to get half of his properties but they signed a prenup contract.
According to TMZ, the rapper, after paying the agreed settlement, will keep seven of the properties they own, including a Malibu home, 2 homes in Calabasas, and 4 properties in the L.A. area, including the $100 million Brentwood estate.
The rapper would also keep full rights to his master recordings, trademarks and interests in various partnerships and trusts. He also keeps all of their Apple stocks, which includes the proceeds from the sale of Beats by Dre.
Nicole, however, gets to keep jewelry, cash and bank accounts that she had maintained during the marriage alongside some other properties.
After the settlement, Nicole would no longer get any spousal support after she contested for it heavily during divorce.
Nicole and Dr. Dre got married in 1996, gave birth to two children; Triuce and Truly and divorced in 2020. Nicole cited irreconcilable differences as the reason for her split from the hip-hop mogul.
Gatekeepers News recently reported that Dr. Dre posed with balloons to celebrate his new status as a divorcee after he finalised the divorce proceedings.
