It's official. Dr. Dre is set to become the first billionaire in Hip Hop. Apple Electronics announce today that it has acquired Dr. Dre's Beats Electronics for $3 billion. According to Forbes, Apple paid $2.6billion cash upfront and gave $400 million in stock that will vest over time.
The $3 billion purchase price includes Beats Music, the sister company that runs a subscription streaming music service. As part of the deal, Beats co-founder Dr. Dre and Jimmy lovin join Apple in undisclosed roles.
No comments:
Post a Comment