Apple Might Make Dr. Dre a Billionaire

Or close to it, if the company buys his Beats Electronics

By Arden Dier,  Newser Staff

Posted May 9, 2014 7:02 AM CDT | Updated May 9, 2014 7:50 AM CDT

(Newser) – Apple could be about to make its biggest deal ever, one that would make rapper and producer Dr. Dre a very rich man. Apple is in talks to buy Beats Electronics—known for its wireless headphones, speakers, and, most recently, a music streaming service—for $3.2 billion, the Financial Times reports. Dre, aka Andre Young, has a stake in the company of somewhere around 25%, and the deal would likely put his net worth at about $800 million, reports Forbes. That would make him hip-hop's richest man.

As for the purchase itself, "Apple CEO Tim Cook has been under pressure to invest the company’s enormous cash pile into new products," notes Quartz. "But sometimes, it’s easier to buy than build." Even so, Business Insider finds the move "baffling" because Beats' products aren't considered the best in the industry. "This move is just un-Apple-like, and has us, as well as many others, scratching our heads," writes Jay Yarow. Others argue the acquisition could boost Apple's cool factor amid falling sales.

In this 2009 file photo, Dr. Dre poses for pictures at a press conference.
In this 2009 file photo, Dr. Dre poses for pictures at a press conference.   (AP Photo/Peter Kramer, File)
Rapper and producer Dr. Dre in 2010.
Rapper and producer Dr. Dre in 2010.   (AP Photo/Dan Steinberg)
A set of Beats headphones.
A set of Beats headphones.   (AP Photo/Beats by Dr. Dre)
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