Rap Star, Music Mogul Team Up on $70-Million USC Gift

Hip-hop star Dr. Dre and music executive Jimmy Iovine are donating $70-million to the University of Southern California for a new center to prepare students to break into a rapidly changing entertainment industry, writes the Los Angeles Times.

USC’s Jimmy Iovine and Andre Young Academy for Arts, Technology, and the Business of Innovation will open in the fall of 2014 with an initial class of 25 students. (Dr. Dre is Andre Young’s stage name.) The donors are set to announce the gift Wednesday.

The money will pay for construction of facilities for the academy and development of a four-year program designed to foster entrepreneurship that incorporates skills in entertainment as well as business and technology.