Apple Acquires Dr Dre's "Beats By Dre" For 3.2 Billion

Stand back for the first rapper turned billionaire! According to reports, rapper Dr Dre is closing in on what could be the biggest deal ever in hip-hop history: the sale of his 8 year old company Beats Electronics to electronics giants Apple for a whopping $3.2 billion, making him the first rapper to earn his first billion, overtaking about to be billionaires like Diddy and Jay-Z.

Singer Tyrese posted a video online showing him in the studio with Dr Dre, with both of them confirming the reports about the acquisition. Apple, who do not normally make such huge acquisitions had previously valued the company at $2 billion.