Looks like Jay-Z will be bumped down to 3rd richest Hip Hop mogul. Beats Electronic company Dr. Dre co-founded with the Chairman of Universal Music Group’s Interscope Geffen A&M Records unit Jimmy Iovine has been purchased by Apple. No firm details are available just yet but rumor has it Beats Electronics LLC sold for a reported $3.2 billion. That would a great profit off of headphones. Those that are scratching their heads wondering why would Apple do this, take note. Beats is like the Bose of headphones. The are the standard and a luxury brand all to themselves. Apple would also be gaining Beats music service. With the Beats music service Apple has the opportunity to strengthen its own music streaming service. Apple may use the the Beats Music service for an on-demand service similar to Google Play Music All Access. We know Spotify, Rdio, Songza must all hope this deal is a rumor.
“The first billionaire in hip-hop, right here from the motherf**king West Coast.” ~Dr. Dre
Tyrese Gibson from The Fast and the Furious as well as Transformers fame uploaded a video with Dr. Dre that might have given away the more information than Apple would have liked. The video is just 83 seconds. However, it was long enough for him to congratulate Dr. Dre on the acquisition. Dr. Dre himself shows up and pretty much confirms the acquisition. The full video is uploaded is below.
The Facebook video has since been removed and now reads as follows: The page you requested cannot be displayed right now. It may be temporarily unavailable, the link you clicked on may have expired, or you may not have permission to view this page. Don’t worry we got you. See below for the video.