14 DAY TRIAL // Not that long ago, we have run a story about the richest men in hip-hop, and it turns out that the one who rakes in the most cash in the industry these days is Puff Daddy (yes, he's back to his old moniker again). In that top, Dr. Dre lands right behind Puffy, with a fortune worth $550 million (€397.5 million).
That is all about to change since Dr. Dre is well on his way to becoming the first man in hip-hop to be a billionaire. Several sources who specialize in following the market are saying that Dre is about to finalize a very profitable deal with Apple to sell his Beats Electronics brand for a whopping $3.2 billion (€2.3 billion).
This isn't big just for Dre, who is used to high finances, but it's also big for Apple, a company that has made a name for itself with expensive purchases of products that it later integrates in its lineup. At the moment, Apple seems to have its eyes firmly set on the Beats label.
For those not familiar with the brand, Beat focuses mainly on selling high-end over-ear headphones that you've probably seen on the street and in the shops, since they've become very popular, sort of like a fashion accessory.
It's exactly that fact that has made Apple consider the purchase, and also the fact that it's a high-end product. We all know that Apple puts lots of stock into offering quality products, or, at least, that's the general consensus among fans of the brand.
Apart from selling earphones, Beats also includes a music-streaming service. The company was founded in 2008 by Dr. Dre in association with music producer Jimmy Iovine, the head of Interscope Records, and now it's about to become his golden goose.
When the deal goes through, Dre will have officially become the richest man in hip-hop and also he will have proven that the musical industry is capable of making serious cash with those with enough business savvy.
The rapper seems to be celebrating his major bank win already, as he's reportedly bought Tom Brady's exclusive mansion for over forty million dollars.
One can't say that Dre hasn't been keeping true to his word. In one of his songs from a while back he did promise to “Keep Their Heads Ringing” and that's exactly what he's doing now, and also making some serious cash on the side.