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African-American rapper turned business mogul Andre Romelle Young, who is known professionally as Dr. Dre, has sold his Mediterranean-style Calabasas mansion for $6 million.
The 9,378-square-foot palatial spread, located in the guard-gated Mountain View Estates community, was extensively updated and converted into a showplace before being sold.
The home boasts six bedrooms and seven baths, wide-plank oak floors, soaring ceilings, designer light fixtures, and high-end granite, marble, and tile finishes.
The sale of the Calabasas mansion marks a profit of roughly $1 million for Dr. Dre, who bought the property in 2018.
The news comes after the rapper recently signed deals to sell a bundle of music income streams and some owned music assets to Universal Music and Shamrock Holdings in combined deals topping $200 million.
In addition to the recently sold Calabasas property, Dr. Dre’s contemporary vacation home on Malibu’s Carbon Beach is presently on the market for $20 million.
He still maintains another home in Calabasas, but his main residence remains a $40-million Brentwood estate he purchased nearly a decade ago from Tom Brady and Gisele Bundchen.
Dr. Dre’s sale of the Calabasas mansion is part of a growing trend among famous African-American business moguls, as they continue to pocket millions of dollars from the sale of real estate properties they acquired years ago.
In September 2022, Oprah Winfrey, the richest Black woman in America, sold her Montecito estate in California for a profit of $6.6 million.
She bought the 2.1-acre property, which included a main house and cottages, in 2020 and divided the estate in 2021, selling the main house to Jennifer Aniston for $14.8 million and the cottages to her personal trainer for $2.3 million. The total sale proceeds were $17.1 million.
The sale of these properties by Dr. Dre and Oprah Winfrey is a testament to their business acumen and ability to make smart investments.
It also highlights the significant wealth that African-American business moguls have accumulated through their successful careers in music, media, and other industries.
