3 BILLION DOLLARS...STRAIGHT OUTTA COMPTON!!! Dr. Dre is officially hip-hops first BILLIONAIRE! The rapper/producer/mogul will soon be selling his Beats Electronics company to Apple for 3.2 BILLION. Yes, 3.2 BILLION dollars!!
Before we even go into details can we just take a moment and let it sink in that Dr. Dre sold his company for 3.2 BILLION....*insert a billion emoji praise hands and cash bags*
This is the biggest acquisition in Apple history! This is truly a big moment for hip hop! According to Forbes.com, Dr. Dre and his partner, Jimmy Iovine (pictured above), have been making major moves with Beat Electronics lately:
"Forbes had previously estimated that the founders each owned approximately 25% of the company, but there have been a number of transactions in the last year, with former majority owner HTC backing out and private equity firm Carlyle Group investing as a minority partner. Beats also reportedly raised $60 million in funding from, among others, billionaires Len Blavatnik, Marc Rowan, James Packer, and Lee Bass. Most recently, Forbes estimated the value of Beats at about $2 billion, but Apple would appear to be paying well above that if the acquisition goes through."
Congratulations are definitely in order to Dr. Dre. This is so motivating and inspiring. When you work hard BIG things definitely come your way. The sky isn't even the limit anymore. Anything is possible if you want it. All you have to do is go out there and get it! Dr. Dre did and now he's a billionaire! We definitely aren't working hard enough!
Side SASS: Watch Dr. Dre flex on Instagram as the potential first and only billionaire in hip-hop below!