Apple Seeking To Close $3.2 Billion Deal for Beats By Dre
Apple could make Dr. Dre hip-hop’s very first billionaire.
According to multiple outlets, Apple “is close to striking a deal” to purchase Beats by Dre for a whopping $3.2 billion. If the deal is closed, this acquisition would make history as the largest ever for Apple.
The deal would include the popular Beats by Dr. Dre headphones and the new Beats Music streaming service, which was introduced in January as a competitor to Spotify and Pandora. According to New York Times, the deal “could signal an effort by Apple to transform its approach to music more than a decade after it opened the iTunes download store.”
The New York Times also reports the deal “has not been consummated [yet], and the negotiations could still fall apart…” But sources close to the deal said it “could be announced as early as next week” if everything goes as planned.
Though the deal is not final yet, Dr. Dre did however, take to Instagram to start an early celebration. In one post, he shared a photo of a man lying down on multiple stacks of cash, writing, “To all of the homies on South Central I was told our beds are gonna look like this soon!!!! #BillionaireBedSpread #RestEasy the #DrFixedusUpAGAIN!!!”
The rapper’s fortune is estimated to be worth $520 milliion. If Apple and Beats’ deal goes through, it will push his fortune into billionaire status.
(Photo Credit: Isaac Brekken/Getty Images for Beats by Dre)
