Iovine and Dre were honored at the star-studded event for their years of entrepreneurship, having founded Beats -- which was purchased by Apple for $3 billion -- and recently launching the Jimmy Iovine and Andre Young Academy, a program devoted to arts, technology and innovation at the University of Southern California.
"When Jimmy and Dre put their minds to something, get on board or get the fuck out of the way," Eminem said, according to WSJ reporter Elizabeth Holmes.
And put their minds together they did back in 1997, when staffers at Interscope records sent Em's Slim Shady EP to Iovine, the label's CEO, who then played it for Dre. The rest is history, or as Eminem put it at the WSJ event, "They saw my potential."
The event also featured appearances by Jennifer Connelly, who presented a fashion award to Nicolas Ghesquiere, and none other than Madonna, who showed up to honor dancer Charles "Lil Buck" Riley in the performing arts category. "You are as fearless as you are talented," she said in her introduction. "You are more than a dancer. You are a poet." According to New York magazine, she scolded an audience member mid-speech for taking a photo of her.