Pay day: Dr. Dre ordered to drop almost $300,000 a month in spousal support to ex Nicole Young: reports
More like nuthin’ but a 300G thang…
Andre Romelle Young, better known as Dr. Dre and a co-founding member of N.W.A., has been ordered to temporarily pay his estranged wife Nicole Young almost $3.5 million a year in spousal support, which breaks down to almost $300,000 a month, according to reports from Page Six, The Blast and Radar Online. Representatives for Dre were not immediately available for comment.
Nicole Young filed to end the pair’s 24-year marriage in June 2020. They have two adult children together, ages 19 and 23. The contentious divorce proceedings have included Young accusing her hip-hop mogul husband of domestic abuse, which he has denied. Young also claims that she was forced to sign a prenuptial agreement before their 1996 wedding. Whether this prenup is enforceable is a main point of contention, Billboard notes, as Young’s legal team claims that Dre “tore up” the agreements in her presence, and that Young never received a copy of the original prenup.
New legal documents from a court hearing this week obtained by The Blast note that the “Nuthin’ but a ‘G’ Thang” rapper and Beats Electronics co-founder had been ordered to pay $293,306 per month to his ex, which is due on the first of every month, on a temporary basis until the pair can negotiate the terms of their final divorce settlement.
It reads: “[Dre] is ordered to pay to the [Nicole] spousal support in the sum of $293,306.00 per month, payable on the first of each month, commencing August 1, 2021.”
What’s more, these payments are ordered to continue until Nicole Young “remarries or enters into a new domestic partnership,” or the death of either party. Dre is also covering her health insurance, which will be comparable to the coverage she had during their marriage. The judge also ordered Dre to “continue paying the expenses for the Malibu, and Pacific Palisades homes.”
The Moneyist: I’m worth $3 million, and separating from my much wealthier partner of 33 years. What kind of financial settlement can I expect?
The Youngs are part of a recent wave of high-profile, wealthy couples coming to a close.
Kim Kardashian West filed for divorce from Kanye West in February after 6 1/2 years of marriage. They’re splitting an estimated $2.1 billion in assets.
Read more: With divorce news swirling: how will Kim Kardashian West and Kanye West divide up their real estate empire?
And Microsoft MSFT, founder Bill Gates and Melinda Gates announced in May that they were divorcing after 27 years of marriage. Bill Gates’s holding company transferred stakes in several companies worth almost $2.4 billion to his ex at the time.
Related: The divorce of Bill and Melinda Gates will grab attention — but there are some things everyone should know about ending a long marriage
Opinion: It won’t end with Bill and Melinda Gates. Get ready for the demise of more marriages.
The news led “Dr. Dre” to trend on Twitter TWTR, on Thursday morning with almost 6,500 tweets. Some commentators argued the settlement was a bit rich, although it should be noted that women can expect an almost 30% decline in their standard of living following a divorce, while men often see an increase of 10%. And women over 65 are 80% more likely than men to live at or below the poverty line, and divorce is one reason for this. So it is important for both parties in a divorce to make sure that their financial futures are secured.
Opinion: Failing to secure your financial future and 4 other common mistakes women make during divorce
Related: Getting divorced cost this woman nearly $1 million in retirement savings — how to avoid her fate
Others suggested this isn’t too much of a financial hit for Dre. Forbes put his fortune at around $800 million in 2019, although Dre called himself the “first billionaire in hip-hop” in 2014 when Apple AAPL, bought Beats Electronics for $3 billion.
“Always amazed at the amount of haters that demonize women for getting million dollar spousal support or child support,” wrote one Twitter user. “Nicole Young is not taking all of his money.”
The couple is due back in court on Thursday for another hearing.
Dre was treated at a Los Angeles hospital earlier this year for a reported brain aneurysm.