A few weeks ago Dr. Dre was named the highest earning rapper of 2012, thanks to his 51% stake in headphone line Beats by Dre. Now that Dre is philthy rich he’s doing everything he can to hold on to his cash.
Reports Rhymes With Snitch:
Dre earned a whopping $110 million last year, thanks to Beats by Dre, and now the shrewd business man has moved three subsidiaries of Beats by Dre to West Cork Ireland to take advantage of their low corporate tax rate.
The new structure allows Dre to channel money between the separate companies to legally reduce profits and his tax burden.
I see said the blind man. And now…
On another note, hiding spending does not reduce spending.