The purpose of this blog is to inform the class of America’s “Top 9 Hip Hop Entrepreneurs of 2012” and the various business ventures in different industries that contributed to their individual successes.
Countdown Top 9 Hip Hop Entrepreneurs of 2012: #1 DR. DRE
Name: Andre Romelle Young
Stage Name(s): Dr. Dre
Forbes Hip Hop’s Top Earners List: #1 of 9
How Much??? $110 Million
Yes! If you haven’t guessed it already, topping Diddy (last year’s Forbe’s “Cash Kings” chart leader), Jay-Z and Kayne this year, the most successful hip hop entrepreneur of 2012 is Dr. Dre!
What’s really surprising is that compared to the other entrepreneurs who have multiple streams to increase their revenue, Dr. Dre really only had one this year, a source that generated more than double, almost triple, the amount of Diddy’s earnings (#2 on the list)! Now THAT’S impressive if you ask me!
Beats by Dr. Dre
In July 2008, Dr. Dre released his brand of headphones, Beats by Dre, which was made by Monster. Their marketing and PR team did an excellent job advertising and promoting their different headphone products. From sports athletes to artists to brands, Beats by Dre made sure that these influential figures in the society were rocking the company’s personally customized headphones – turning the brand into a must-get fashion accessory.
Here are some examples of different celebrities rocking Dre headphones:
- Great Britian’s 2012 Olympic team customized Beats headphones – Cullen Jones Source:http://allhiphop.files.wordpress.com/2012/08/cullen-jones.jpg
- Lebron James.
- Lil Wayne with his own line of Beats by Dre Source:http://cdn.theversed.com/wp-content/uploads/2012/09/Lil-Wayne-Beats-By-Dre.jpg
- Mr. Beiber got into the action also! Source:http://ryanseacrest.com/wp-content/uploads/2010/12/600-justbeatsjustin-120310.jpg
- Katie Holmes even! Source: http://media.onsugar.com/files/2010/04/14/4/192/1922507/65b4f5af083c695a_Katie.jpg
Hewlett Packard also saw this as a huge opportunity and decided to partner with Dr. Dre to make a new laptop called HP ENVY 15 Beats limited edition this year, which includes Beats Audio inside the laptop and a Beats by Dre headphone on the side. The commercial’s actually pretty hilarious:
It’s evident that Beats by Dre is more than just a headphone; it’s a brand that plays a huge role influencing all parts of the entertainment industry. Thus, recognizing this potential, a Taiwanese electronics company HTC paid $300 million for a 51 percent stake in Dr Dre’s headphones operation last year. Link: http://www.dailymail.co.uk/news/article-2199025/Dr-Dre-built-headphones-empire-paid-110million-year.html –
Giving Dr. Dre an enormous payday…pocketing more than $110 million dollars.
And you wonder why the most anticipated album of the decade “Detox” hasn’t been released yet… He was busy making $110 million!!!
Congratulations to Dr. Dre for his successful venture and coming in at #1 most successful and influential hip hop entrepreneur of 2012.
Please tune in again to my final blog, as I give my final thoughts of the entire wrap up the entire journey.
By: Aaron Kim (Duke)
Extra source: http://www.forbes.com/special-report/2012/0905_hip-hop-cash-kings.html
*Sources are provided within the post.