Music Mondays: Dr. Dre: Hip-Hop's First Billionaire

By - Monday, May 12th, 2014

Rumor has it Apple is making a move to acquire Beats Electronics and it’s streaming service for $3.2 billion making Dr. Dre the first billionaire in Hip-Hop. The deal will also be Apple’s largest acquisition ever. Since the loss of Steve Jobs, Apple’s sales have steadily declined over the years and is looking to bring consumers back into their stores. With iTunes also taking a hit, the biggest winner will certainly be the Beats audio streaming service, which has been lackluster since it’s introduction. The Beats streaming service has had hefty competition with Spotify and Rhapsody, which both earned $1 billion last year, Apple is definitely looking to get a cut of that pie. With Dre as the face of Beats and Apple’s established reputation, this is nothing short of a power move and given Dre’s successful business ventures. The deal is still in talks and is likely to be completed soon.
Still no word on Detox though…
{image-1} For more in depth news about the deal, visit

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