Dr. Dre Hip-Hop’s First Billionaire? Not So Fast
Apple reportedly wants to take a $3.2 billion bite out of Beats Electronics. The company is co-owned by “gangsta rap” (How’s that for a throwback?) pioneer Andre “Dr. Dre” Young and Interscope boss Jimmy Iovine and boasts a boutique line of headphones and freshly-launched music subscription website — the latter of which Apple can hardly wait to sink its teeth into.
Despite speculation (much of it inspired by Dre’s own lips) that the unprecedented deal will make the “Nuthin’ but a G Thang” legend hip-hop’s first billionaire, The Bloomberg News suspects it will be Iovine, not Young, who emerges from the potential Apple sale looking like a billion bucks.