This year, we are introducing the R&B/HipHopPower Players Hall of Fame to recognize those whose influence over art and commerce is everlasting
Beats -- the company he co-founded with Jimmy Iovine in 2008 -- expanded Dre’s horizons, allowing him to shape not just what we hear, but how we hear it. Beats grew from headphones and speakers to a subscription streaming service in 2014, the same year that Apple acquired the company for $3 billion -- $2.6 billion in cash and $400 million in stock vested over time ., netting an Academy Award nomination and a box-office take of over $200 million.
Twelve years ago, he leveraged his power as a pitchman for an ownership stake in Cîroc vodka, entering a 50-50 profit-sharing deal with Diageo, then the world’s largest distiller. In 2014, he and Diageo purchased the mega-priced luxury tequila DeLeón in a 50-50 deal.Mark Wahlberg to invest $20 million in AQUAhydrate, an alkaline water brand. In September, Alkaline Water Company acquired AQUAhydrate in an all-stock deal that put its valuation at an estimated $50 million.
In 2016, Combs sold a majority stake in his Sean John clothing line, which he founded in 1999, to Hong Kong-based Global Brands Group, which counts Calvin Klein andamong the labels it owns and licenses, for $70 million. On the TV front, the cable network that he launched in 2013, REVOLT, underwent a restructuring last year but still gives him a reach into about 50 million homes.
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