Dr. Dre and Nicole Young’s highly publicized divorce battle looks to have finally come to an end. According to TMZ, both parties recently reached a property settlement agreement that will see the veteran musician and business mogul pay his ex-wife $100 million to settle their divorce.
The news outlet also reports that Dr. Dre has no qualms about the amount and agreement as he’s “delighted” Nicole isn’t getting a huge chunk of his estate. Per the terms of the agreement, the 56-year-old Compton native will pay Nicole in two installments – that is $50 million now, and the remaining $50 million in a year’s time.
Besides retaining seven of their properties – including a $100 million estate in Brentwood – Dr. Dre will also exclusively own the full rights to his master recordings and trademarks. His interests in multiple partnerships and trusts will remain intact. He also gets to keep their Apple stocks, which includes earnings from Apple’s purchase of his Beats by Dre brand.
Additionally, Dr. Dre will retain six vehicles while Nicole will get to keep four. She’ll also retain jewelry, cash, and bank accounts belonging to her while they were married, TMZ reported. However, Nicole will have to cover her legal fees – which are in the region of millions of dollars.
Sources who spoke to the news outlet claim Nicole could have actually walked away with much more if she had settled the divorce a year ago. “She could have even been on the field for the Super Bowl halftime show as a friendly ex-wife,” one of the sources said.
The agreement also prevents Nicole from receiving spousal support. The former couple tied the knot in 1996, and they share two adult children together.