Congratulations goes out to rapper/producer/businessman Dr Dre on becoming the first Billionaire in hip hop history.
According to TMZ Dre and his partner Jimmy Iovine just recently inked a major deal with Apple who just purchased their company Beats by Dre for $3.2 billion dollars.
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.
Shortly after the reports leaked online Dre confirmed the news in a video posted by R&B singer Tyrese on Instagram. Dre was spotted celebrating in the studio and Tyrese just so happen to be at the right place at the right time and captured the moment.
Check out the video below: