If you woke up today thinking you still lived in a world where scrappy, upstart headphone maker Beats by Dre was still an independent company, this news is gonna shock the hell out of you: it got bought out. By Apple. For $3.2 billion.
Headlines like “Tech company buys smaller tech company for a squillion dollars” are fairly common these days. Facebook recently released a $19 billion cashvalanche on WhatsApp and previously picked up Instagram for a cool billi. But this is a little different: it’s the biggest acquisition Apple’s made since picking up Steve Jobs’ startup NeXT for $404 million in 1996; and it makes Dr Dre the first hip hop billionaire, as he gleefully shared in a video with actor Tyrese Gibson:
While it’s not yet known exactly how much of that $3.2 billion will find its way to Dre’s savings account (and how much will forget about Dre lololol), as company co-founder he’s expected to see at least a cool billion, putting him way ahead of fellow hip hop moguls Jay Z (estimated net worth: $520 million) and 50 Cent ($140 million), whose $100 million payout for his stake in Vitamin Water now looks like small change.
The uncharitable might point out that the other thing that sets Dre apart from Jay Z and 50 Cent is that he hasn’t released an album in 15 years, but hey. We’re just not that kinda website.
Image via Isaac Brekken for Getty Images Entertainment
