Dr. Dre isn’t a real doctor, but he’s really rich. The rapper turned producer turned mogul is one of the wealthiest artists in the hip hop game, and he’s about to claim the ultimate bit of bragging rights over fellow moneyed rappers Jay Z and Sean Combs. Dr. Dre and Jimmy Iovine are the majority shareholders of Beats Electronics, the company behind the Beats By Dre headphones, speakers, and a newly minted streaming audio service. With Apple expected to spend some of its impressive cash reserves, what better place for the music-selling giant than the biggest name in the headphone game? Apple is slated to buy Beats Electronics in a move that is expected to make Dr. Dre a billionaire.
Apple is expected to pay $3.2 BILLION dollars for Beats By Dre, a privately-held company that had $1.2 billion in revenues last year. If Dre owns 15 percent of the company or more, that, combined with his estimated net worth of $550 million dollars, would make him a billionaire. Anything more than that is just padding the bragging rights. In a genre where everyone brags about their money and wears pounds of jewelry, this might be the ultimate victory by the rap pioneer.
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