Dr Dre set to be hip hop's first billionaire as Apple is set to buy Beats Electronics for $3.2bn
Super producer and rapper Dr Dre is set to become Hip Hop's first billionaire as Apple Inc. is close to sealing a multi-billion dollar deal to purchase Beats Electronics, the company he founded with music producer Jimmy Lovine in 2008. The company produces the popular Beats By Dre headphones and also runs a music streaming service, which Apple is more interested in than the headphones itself. If this happens, it will be Apple's biggest acquisition till date. ($3.2billion)
Apple wants a music-on-demand service to rival Spotify, which is a digital music service that gives people access to millions of songs.
It was announced today that the acquisition could be announced as early as next week.
