He’s the third richest man in the music industry, with an estimated $770 million fortune.

And Dr. Dre has dropped a staggering $4.9million on a sprawling Los Angeles mansion in the upmarket gated community of Calabasas, home to the likes of the Kardashians and Justin Bieber.

The 53-year-old star’s Mediterranean-inspired estate, which dates from 1997, spans 9,378 square feet and features six bedrooms and five bathrooms.

The property is set within three-quarter acre gardens which boast a swimming pool and a spa.

Perfect for entertaining guests, the grounds also feature a fire pit, a built-in barbecue and a tennis court.

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Envy-inducing: The 21-year-old property boasts a sizable kitchen complete with state of the art appliances

Mixing business and pleasure: The plush pad offers rapper and producer a mixture of home comforts and space to focus on his money-making ventures

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In good company: The gated community is home to the likes of the Kardashians and Justin Bieber

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Snapping it up: Dre is said to have made the purchase through a trust, the Los Angeles Times reports

The property was first marketed in January for $5.25 million, so Dre has saved himself $300,000 on the sale.

Dre is said to have made the purchase through a trust, the Los Angeles Times reports.

The musician and businessman, whose real name is Andre Young, ha

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Savvy spend: The property was first marketed in January for $5.25 million, so Dre has saved himself $300,000 with his under-offer asking price

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Plenty of space: The modern abode includes a games room, a home cinema, a recording studio and an office

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Expanding his empire: The musician and businessman, whose real name is Andre Young, has worked with the likes of Snoop Dogg and Eminem and boasts an impressive property portfolio

Convenient: The Calabasas home also features a small home gym perfect for training at home

Last purchase: In 2014, the music icon snapped up Tom Brady and supermodel Gisele’s Brentwood compound for $40 million

Neutral: The property is ready to move into, with clean, neutral decor and modern finishing throughout

In 2014, the music icon snapped up Tom Brady and supermodel Gisele’s Brentwood compound for $40 million.

As of March 2017, Dre was named as the third richest hip-hop star in the world right now – according to Forbes’ Hip-Hop’s Wealthiest Artists report.

He benefited from the rising stock market boosting his nine-figure windfall from Apple’s $3 billion buyout of his Beats in 2014.

Wealthy: As of March 2017, Dre was named as the third richest hip-hop star in the world right now – according to Forbes’ Hip-Hop’s Wealthiest Artists report

Business mogul: He benefited from the rising stock market boosting his nine-figure windfall from Apple’s $3 billion buyout of his Beats in 2014

Lucky: Dre is also in line to receive Apple stock worth well over $100 million this summer, according to Forbes, and that could send him rocketing into top spot this year

Picture perfect: Perfect for entertaining guests, the grounds also feature a fire pit, a built-in barbecue and a tennis court

Dre is also in line to receive Apple stock worth well over $100 million this summer, according to Forbes, and that could send him rocketing into top spot this year.

Jay-Z topped Forbes’ list with his total fortune estimated at $900 million in 2017, it was revealed in the report last month.

The 48-year-old seized top spot from his pal Sean Diddy Combs, also 48, who had held it since Forbes started compiling the list in 2011. He came in second this year with $825 million.

All this makes Jay-Z, Diddy and Dre not only the wealthiest hip-hop acts on the planet, but the richest American musicians of any genre, Forbes revealed.

What a view: It’s no wonder the legendary rapper can afford to call these breathtaking views his own

Game, set, match: The 9,378 square foot property also features a private tennis court