After Dropping $70 Mil, Dr. Dre Throws On His Suit & Tie

Days after rap mogul Dr. Dre raised eyebrows by teaming up with Interscope Records CEO Jimmy Iovine for a $70 million donation, they both appeared at Friday's University of Southern California graduation.

While brief with his words, the Doc verbally applauded the USC gradatuating class with a short speech.

Dre took the podium to say a few words. "Make some noise Trojans!" said the hip-hop legend, who donated $70 million to start an academy with Iovine at USC. "I am excited and I am proud to now be a member of the Trojan family. I would also like to say congratulations to the University of Southern California's Class of 2013." (Rap-Up)

The music moguls' enormous donation is to help create a new institute at the renowned university.

The huge gift from the two who have been music business partners in the past will be used to create the Jimmy Iovine and Andre Young Academy for Arts, Technology and the Business of Innovation. The academy will provide a special four-year program for undergraduates whose interests span several fields from marketing to computer science to visual design and other arts. It will include one-on-one faculty mentoring with professors from programs around the university and interaction with entertainment industry luminaries. (Fox News)

The university's president released an official statement on receiving their unexpected gift a few days ago.

"The vision and generosity of Jimmy Iovine and Andre Young will profoundly influence the way all of us perceive and experience artistic media," USC President C. L. Max Nikias said in a statement. "We are committed to encouraging our students to use their intellectual and creative resources to effect change in all segments of society. Our goal is to ensure that the academy is the most collaborative educational program in the world." (Statement)

Over the spring, Doc landed a Top 3 spot on Forbes' Hip-Hop's Wealthiest Artists list.

1: Diddy, $580 M 2: Jay-Z $475M 3: Dr Dre $350M 4: Birdman $150M 5: 50 Cent $125M Birdman: The New Orleans native cofounded Cash Money Records two decades ago with his brother Ronald "Slim" Williams (Birdman's net worth would be well over $200 million if his ownership in the label wasn't shared). 50 Cent: Now he's trying to replicate the latter feat with companies like SMS Audio, his answer to Dr. Dre's Beats, and SK Energy, which has its sights set on category leader 5-Hour Energy. (Forbes)