Home News First Rap Billionaire? Apple Looking to Acquire Dr. Dre’s Beats Electronics for...

First Rap Billionaire? Apple Looking to Acquire Dr. Dre’s Beats Electronics for $3.2 Billion

SHARE

20140508-202326.jpg
The race to a Billi just got that much tighter for the likes of Jay Z and Diddy, cause Dr. Dre and Jimmy Iovine are looking at a huge payday for their Beats Electronics. According to Forbes, Apple is “closing in” on what would be its largest ever acquisition, a potential $3.2 billion purchase of the Electronics company.

Dre and Interscope Records’ head honcho Jimmy Iovine founded Beats in 2008, which has since branched off to making speakers, audio systems, and launching a stream service. Most recently, it was estimated that Beats is worth $2 Billion, with Dr. Dre and Jimmy Iovine each having 25% ownership of the company. This Apple deal in turn would mean they’ll pay well above that if the acquisition goes through.

Dr. Dre came in at number 2 just a matter of weeks ago, on Forbes’ list of Hip Hop’s most wealthiest with a net worth of $550 Million, while Diddy took the top spot with $700 Mil. By next year things look to take a drastic change if this deal is green lit.

UPDATE: Dre pretty much confirms the news in this clip posted by Tyrese