Dr. Dre and Jimmy Iovine Set To Sell Beats By Dre to Apple for $3 Billion

Screen Shot 2014-05-08 at 8.57.20 PM

Suge Knight is gonna be pissed once again, but there is nothing he can say to stop Dre from closing on one of the smartest and biggest deals in the history of the music industry.

via TMZ

Dr. Dre could be days away from being the first rapper turned BILLIONAIRE … thanks to a mega-deal for Apple to snatch up his Beats Electronics brand.

Apple will reportedly buy Beats for a whopping $3.2 BILLION — and since Dre and Interscope honcho Jimmy Iovine created the brand … it’s a safe bet they will walk away with a huge chunk of that cash.



Dre and Jimmy created the brand back in 2008 with headphones — but now they’re also making bank off speakers, car audio systems, and a streaming service.

The deal could close next week … and would be Apple’s biggest acquisition ever. 

Dre came in #2 on Forbes’ most recent list of hip hop’s wealthiest artists — with a net worth of $550 million … while Diddy was #1 at $700 million.

The Apple deal — first reported by Variety — could easily push the Doc to the top of that list. This would also explain his purchase of Tom Brady’s mansion

Read more: http://www.tmz.com/2014/05/08/dr-dre-beats-audio-selling-to-apple/#ixzz31AvvH8eL

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