Super producer and rapper Dr Dre is set to become Hip
Hop's first billionaire as Apple Inc. is close to sealing a
multi-billion dollar deal to purchase Beats Electronics,
the company he founded with music producer Jimmy
Lovine in 2008. The company produces the popular
Beats By Dre headphones and also runs a music
streaming service, which Apple is more interested in
than the headphones itself. If this happens, it will be
Apple's biggest acquisition till date. ($3.2billion)
Apple wants a music-on-demand service to rival
Spotify, which is a digital music service that gives
people access to millions of songs.
It was announced today that the acquisition could be
announced as early as next week.
Last night, singer Tyrese posted a video where Dr Dre
proclaimed himself the first billionaire in Hip Hop. Dr
Dre is currently worth $550million.
