Beats by Dre acquired by Apple

Published on May 9, 2014, by Jenny A

Apple is in the final stages of buying Beats Electronics for almost $3.2 billion.

Dr. Dre – the co-founder of Beats, announced the deal in a video posted on Facebook – that is now deleted mostly because of Apple.

You can view the video below, posted on YouTube.

This short clip shows Dr.Dre saying that he is “the first billionaire in hip-hop” and Forbes needs to update Forbes 400, because “the game” is changed.

Dre’s stake in Beats currently stands at somewhere around 20-25 percent. Capital gains taxes could take a bite out of his big payday, likely leaving him with a net worth in the neighborhood of $800 million.
It’s not quite enough to land on the Forbes 400, but it would easily make him hip-hop’s richest man, topping current champion Diddy by $100 million.

What do you guys think? Excited about some beats coming by default with your new iPhone 6? :)

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