Nicole Young is set to have quite the payday as she and her ex-husband, Dr Dre have finalised their divorce settlement.
The music producer, rapper and Beats by Dre founder has agreed to pay his ex-wife the sum of $100 million.
According to TMZ, Dr Dre aka Andre Young will pay $50 million now and $50 million next year. The couple have also divided the assets owned in their nearly 25 years of marriage.
Dr Dre will retain the rights to all his music, trademarks and his ‘various partnerships and trusts’. He will get to keep their Apple stocks (which he received when he sold Beats by Dre to the tech company) as well as seven of the properties they owned together.
The rapper has been awarded the keys to six of their cars while Nicole will get four. She will also get to keep ownership of all the jewellery, cash and the bank accounts she created during their marriage however she won’t get access to spousal support.
Nicole Young initially requested for a whopping US$1.9 million a month as well as have her $5 million lawyer fees paid for by Dr Dre to cover her expenses. Since they have however settled on the $100 million settlement, she won’t be entitled to an ongoing monthly stipend.
Nicole has also been forced to pay for her own legal fees which amounts to millions of dollars.
Andre and Nicole were married for 24 years after getting hitched in 1996. They have two children together.
Ms Young filed for divorce last year and cited ‘irreconcilable differences’ as their reason for the split.
The divorce settlement has been particularly long and bitter, dragging for 18 months due to the dispute over the validity of their prenup.
Nicole claimed she was forced to sign a prenuptial agreement before their mid-’90s wedding on account of her soon-to-be hubby’s enormous wealth at the time.
However, Nicole alleged Andre ‘felt ashamed he had pressured me into signing a premarital agreement and he tore up multiple copies of the agreement in front of me’.
She added that when this was done they both agreed the prenup was void. Dr Dre objected to this version of events and claimed the prenup was still technically and legally active.