Many reports have been coming in following an announcement that Apple is in the process of purchasing Beats Electronics for $3.2 billion that has many people wondering if the deal would make Dr. Dre Hip Hop’s first billionaire.
According to a report by the Billboard, Apple is orchestrating a $3.2 billion acquisition of Beats Electronics, the headphone maker and music streaming distributor founded by Dr. Dre and Jimmy Iovine with Dre’s stake in Beats to be an estimated 20-25%.
If the good Doctor were to earn that amount directly from the $3.2 billion sale, his take would be somewhere between $640 million and $800 million, before taxes. With that amount, combined with his earnings of $550 million from last year, as reported by Forbes just a few weeks ago, as well as his other forms of income, the legendary producer would be very close to a net worth of a billion dollars.
Sources close to the negotiations say Apple could announce the deal as early as this week, but did note the deal could fall through if both sides cant agree on some final details.
Although the deal is not final, Dre seemed confident enough to announce himself as Hip Hop’s first billionaire.
Dre stated on Friday night:
The first billionaire in hip hop right here from the motherf*cking West Coast
View the footage + gif of Dre’s announcement alongside Tyrese below:
Stay tuned to Def Sounds and we will keep you updated when or if we get word of the deal going through and Dr. Dre making history as Hip Hop’s first billionaire