Dr. Dre ordered to pay ex-wife Nicole Young $3.5M a year in spousal support

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Yahoo Entertainment 22 July, 2021 - 04:35pm 16 views

Dr. Dre ordered to pay $293,306 monthly spousal support to ex-wife Nicole Young

New York Daily News 22 July, 2021 - 03:24pm

The music mogul must deliver the cash in monthly installments of $293,306 starting Aug. 1, Los Angeles County Superior Court Judge Michael R. Powell ruled Tuesday, according to a new court filing.

Dre, whose full name is Andre Young, also must continue to cover expenses for the ex-couple’s Malibu and Pacific Palisades homes as well as Nicole’s health insurance, the judge said.

The order shall remain in place “until the party receiving support remarries or enters into a new domestic partnership, death of either party or until further order of the court,” Judge Powell ruled.

Nicole, 51, filed for divorce from the 56-year-old super producer and Beats Electronics entrepreneur in June 2020, citing alleged physical and emotional abuse during their 24-year marriage.

Two months later, she challenged their prenup in court, arguing it was signed under duress and later torn up by Dr. Dre.

The ex-couple’s legal wrangling remains ongoing, but the court agreed to declare each party legally single last month.

Nicole’s lawyers claim the hip-hop icon’s net worth is “in the ballpark of $1 billion dollars” and that the fortune was “largely earned” during the marriage.

The exes share two adult children — daughter Truly, 20, and son Truice, 24.

Pay day: Dr. Dre ordered to drop almost $300,000 a month in spousal support to ex Nicole Young: reports

MarketWatch 22 July, 2021 - 11:11am

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?

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.

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

“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.

Is the hit show on the money when it comes to Wall Street?

Dr. Dre ordered to pay more than $3.5M per year in spousal support

Atlanta Journal Constitution 22 July, 2021 - 10:41am

Dr. Dre Ordered To Pay Over $3.5 Million Per Year In Spousal Support

The Blast 21 July, 2021 - 06:13pm

Dr. Dre’s ex-wife, Nicole Young, just scored a victory in court after he was ordered to pay almost $300,000 A MONTH in spousal support, but the legendary rapper also sees it as a win.

According to legal documents, obtained by The Blast, the music mogul and his ex-wife were both in court for a hearing this week, hashing out specifics of how much will be paid in temporary spousal support. In the order, Dr. Dre was ordered to pay $293,306 per month to his ex-wife, which is due on the first of every month.

“[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,” the order states. If you do the math, that is a whopping $3,519,672 a year in support, not including other expenses.

The payments will continue, according to the order, “until the party receiving support remarries or enters into a new domestic partnership, death of either party.” Nicole, who is repped by powerhouse attorney Samantha Spector, is also getting her health insurance paid by Dre which will be similar to the coverage she had during the marriage. All other insurance for Nicole will be paid out of her pocket.

Plus, the judge ordered Dr. Dre to “continue paying the expenses for the Malibu, and Pacific Palisades homes.”

Dr. Dre looks at the decision as a victory for his team after Nicole originally asked for $2 million a month in support. To those of you counting, that is $24 million a year, so the $300K a month is a bargain! The rapper’s team believes this is only temporary as the couple has an “ironclad prenup.”

It should be noted, the rapper and his ex-wife are currently negotiating an overall settlement of their divorce, and the amount of money be paid by Dre is temporary. In other words, we are guessing after the couple agrees on a lump sum payment to be paid to Nicole by Dre, the monthly payment may cease to exist. In many wealthy celebrity cases, a divorce settlement will include any future payments to an ex-spouse.

As we reported, Dre and Nicole have been at war over the finances in their divorce, after the rapper claims the couple entered into a prenuptial agreement that made his businesses separate property. Of course, those businesses — including Beats Headphones – made him a billionaire. According to Nicole, Dre has $262 million available in cash and Apple stock, and their living expenses are almost $2.3 million a month.

Shockingly, Nicole claimed the couple spent over $245 million in the past three years and wants to maintain the same lifestyle after the couple is divorced.

In the end, Dre’s ex-wife is asking for the court to order the massive estate sliced in half, and the rapper is arguing she should get nothing from his successful businesses. We are guessing this will all end in a global settlement, and even if it’s not half, we are guessing Nicole nor Dre will have to worry about money ever again!

Dr. Dre

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