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The first billionaire in hip hop Dr.Dre, Apple acquiring beats electronics for $3.2 billion – Apple’s biggest acquisition ever

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Dr. Dre could be days away from being the first rapper turned BILLIONAIRE … thanks to a mega-deal for Apple to snatch up his Beats Electronics brand.

Apple will reportedly buy Beats for a whopping $3.2 BILLION — and since Dre and Interscope honcho Jimmy lovine created the brand … it’s a safe bet they will walk away with a huge chunk of that cash.

Dre and Jimmy started the brand back in 2008 with headphones — but now they’re also making bank off speakers, car audio systems, and a streaming service.

The deal could close next week … and would be Apple’s biggest acquisition ever.

Dre came in #2 on Forbes’ most recent list of hip hop’s wealthiest artists — with a net worth of $550 million … while Diddy was #1 at $700 million.

  • Beats was founded by music producer Jimmy Iovine and the hip-hop star Dr Dre and until recently was best known for its headphones
  • It started a subscription-based music streaming service earlier this year
  • Apple already has its own iTunes store which is the world’s largest music download service
  • It also launched iTunes Radio last year
  • Apple now has access to Beats streaming music service allowing it to compete with on Spotify
  • Headphone line will be sold alongside Apple’s iconic white earbuds
  • Could lead to a more comprehensive music subscription service from Apple

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