Apple in Talks to Buy Beats
By Brian Ives
The Financial Times (via The Washington Post) reports that Apple’s purchase of Beats Electronics is “imminent.” The price tag? $3.2 billion; Dre and his partner, Interscope Records head Jimmy Iovine will share about $1.3 billion from the sale, if it goes through.
This bit of news surfaced in a somewhat unconventional manner, via a video that Tyrese Gibson posted to Facebook on Thursday (May 8). The post has since been taken down, but a few versions are still on YouTube.
“Oh, s***, the Forbes list just changed!” he announces, with a clearly happy Dr. Dre behind him. “It came out two weeks ago, they need to update the Forbes list, s*** just changed!”
“In a big way!” Dre adds. “The first billionaire in hip-hop, right here from the motherf*****’ west coast!”
Forbes, reporting on the deal, said that it doesn’t quite make Dre a billionaire, but after taxes, the deal likely leaves him “with a net worth in the neighborhood of $800 million. It’s not quite enough to land on the Forbes 400, but it would easily make him hip-hop’s richest man, topping current champion Diddy by $100 million.”
They also point out that the deal is not yet official.