Hip-hop's first billionaire will be releasing his first album in nearly 16 years, as it was recently announced that Dr. Dre has recorded a soundtrack to accompany a film on his former band N.W.A., The AFP reports.

According to the pre-order information on iTunes, the album, which comes out on Aug. 7, will feature collaborations from Dr. Dre protégé Eminem, Los Angeles area rappers Kendrick Lamar and Snoop Dogg, as well as former N.W.A. bandmate Ice Cube, among other artists.

The rapper, whose birth name is Andre Romelle Young," is one of music's wealthiest business people, and made a $3.2 billion deal with Apple for his audio product brand Beats. by Dr. Dre.

According to the AFP report, Dr. Dre said that he decided to record the album"”entitled "Compton: A Soundtrack by Dr. Dre" during the filming of the biopic "Straight Outta Compton," which opens a week after the album comes out.

"I felt myself just so inspired by the movie that I started recording an album," Dr. Dre said on his show on Apple Music, which as noted by the report is Apple's new streaming and radio service where Dr. Dre has played a prominent role.

"I started recording a soundtrack. I kept it under wraps, and now the album is finished," Dr. Dre added, while also hinting on Twitter that it would be his "grand finale."

As noted by the AFP report, N.W.A., which stands for Niggaz With Attitude"”was a cultural phenomeno back in the 80s, with straightforward, and unapologetic takes on life on the streets of L.A.

Dr. Dre has gone a long way from his days with N.W.A. He's launched a number of solo albums post N.W.A., and produced countless others for various artists. After his deal with Apple, Forbes has estimated his net worth at $700 million.

Dr. Dre's last studio album 1999's "2001."