Dr Dre Out Loud on Being the 'First Billionaire in Hip Hop,' with Apple's Acquisition of Beats [VIDEO]
By Daniel Joseph Cruz | May 13, 2014 3:35 PM EST
If industry watchers are going base the evidence on Apple's acquisition of Beats Electronics with Dr Dre's recent video, then there's no more need to speculate. Immediately after news broke out that "Apple Inc." will settle the acquisition deal with "Beats Electronics," Dr Dre went on celebrating as the "first billionaire in hip hop."
Recording artist Dr. Dre wears a pair of Beats headphones as he attends the MLB 2010 season opener between the New York Yankees and Boston Red Sox at Fenway Park in Boston, in this file photo taken April 4, 2010. Apple Inc is close to buying headphone maker Beats Electronics for $3.2 billion, the Financial Times reported. The purchase of Beats, which also runs a streaming music service, would be the company's largest ever acquisition, the newspaper reported.
In the Instagram video, rapper Andre "Dr Dre" Young hinted his billionaire status joyously. Dr Dre together with singer/actor Tyrese Gibson and his other friends celebrated about Apple's acquisition of Dre's Beats Brand as if it's already a done deal - in the looks of it, it could actually be already true.
Dr Dre declares in the video, "The first billionaire in hip hop from the mother***king West Coast," and he adds "Believe it."
Tyrese backs him up with "S**t just got real," and "they need to update the Forbes list!"
With Dr Dre's recent "announcement," it is still uncertain how much he will truly gain from the deal. Various reports say that Dre has a 15 percent stake with the Beats ownership. The acquisition will bolster his current $550 million net worth to billionaire status. Though his billionaire status may become short-lived as "A sale for $3.2 billion would nearly double the value of Dre's holdings, though capital gains taxes could take a bite out of his big payday, likely leaving him in the neighborhood of $800 million," Forbes staffer Zack O'Malley Greenburg said in a post, reported by Huffington Post.
Should Apple officially announces the acquisition deal with Beats, Dre Dre will definitely up his rankings to the top spot of the wealthiest hip-hop artists. According to Forbes magazine's tally last April, Diddy is at number one spot with $700 million, Dre takes second place with $550 million, and Jay-Z in the third place with $520 million.
Apple has still yet to announce the veracity of the claims and celebrations when they officially announce any news about the acquisition of Beats Electronics in possibly the next few days or weeks.
(Warning: Video contains NSFW language)
CREDIT: Zion Lion/YouTube
To contact the editor, e-mail: