Home » Gossip and Gist » Dr Dre Set To Be Hip Hop's First Billionaire As Apple Is Set To Buy Beats Electronics For $3.2bn

Sunday, May 11, 2014

Dr Dre Set To Be Hip Hop's First Billionaire As Apple Is Set To Buy Beats Electronics For $3.2bn

Posted by Favour Ibude at 5:22 am Labels: Apple Inc. , Beats By Dre , Beats Electronics , Dr Dre , Gossip and Gist

Super producer and rapper Dr Dre is set to become Hip Hop's first billionaire as Apple Inc. is close to sealing a multi-billion dollar deal to purchase Beats Electronics, the company he founded with music producer Jimmy Lovine in 2008.

The company produces the popular Beats By Dre headphones and also runs a music streaming service, which Apple is more interested in than the headphones itself. If this happens, it will be Apple's biggest acquisition till date. ($3.2billion)

Apple wants a music-on-demand service to rival Spotify, which is a digital music service that gives people access to millions of songs.

It was announced yesterday that the acquisition could be announced as early as next week.