The rap legend will pay $50 million (£37 million) immediately and another $50 million in a year, according to TMZ.
Dre, real name Andre Young, gets to keep seven of the properties he and Nicole own, including his $100 million Brentwood estate, two homes in Calabasas, a Malibu property and four other homes around Los Angeles.
He will also retain the rights to his master recordings, trademarks, and interests in financial partnerships and trusts. He also gets to keep all of their stocks in Apple, which include the proceeds from the sale of his Beats by Dre audio equipment firm to the tech giant.
They are splitting their 10 vehicles, with Dre getting six and Nicole four. Meanwhile, she will keep jewellery, cash and the bank accounts she used during their marriage. However, she must pay her own legal fees – thought to run into millions of dollars.
Sources tell TMZ the settlement may well have been larger had the couple settled without acrimony earlier in the divorce process. The agreement also forecloses her ability to obtain spousal support.
Nicole filed for divorce in June 2020, citing irreconcilable differences. That November, she filed additional legal claims that Dre engaged in verbal violence and infidelity during their marriage, claims he denied via a representative.
Their divorce battle reached a new level of bitterness when Dre was reportedly served divorce paperwork while attending his grandmother’s funeral in October.
Dre and Nicole married in 1996 and have two adult children.