Will Dr. Dre Be Hip-Hop's First Billionaire?

Friday, May 09, 2014

Peter Chou, Dr. Dre and Jimmy Iovine announce the strategic partnership of HTC and Beats by Dr. Dre on August 10, 2011 in Los Angeles, California. (Christopher Polk/Getty Images for Beats By Dr. Dre)

In the business world, rumors are circulating that Apple is poised to make a big, multi-billion dollar acquisition. Though it is hard to penetrate the opaque business of Apple, there may be a crack starting to show.

According to reports, Apple is in talks to buy Beats Electronics LLC, the headphone and streaming music company owned by music legend Dr. Dre. The deal could make Dr. Dre the first billionaire in hip-hop—Apple is supposedly looking to purchase the company for an estimated $3.2 billion.

Dan Charnas, author of the book "The Big Payback: The History of the Business of Hip-Hop," explains what this deal could do for Apple, and for Beats Electronics.

*Editor's Note: In the introduction of this audio interview, Dr. Dre's company is incorrectly referenced as Beast Music LLC. The company is Beats Electronics LLC.

Guests:

Dan Charnas

Produced by:

Tim Einenkel

Editors:

T.J. Raphael

Comments [1]

Tom cummings from Netherlands

You said his value will go up. His value is not related to the acquisition. His net worth will go up

May. 09 2014 03:35 PM

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