It’s official. Andre “Dr. Dre” Young has become hip-hop’s first billionaire with the official announcement of the sale of Beats Electronics to Apple, Inc. He and Interscope head Jimmy Iovine, his partner, and Beats were welcomed into the Apple family today.

According to reports the two will net $2.6 billion with $400 million worth of Apple stock in the sale.

The now ultra-rich partners will also join Apple. Iovine has already announced his replacement at Interscope – John Janick, who was already at Interscope and being groomed for the top job. He’s already CEO and President of Interscope Geffen A&M. Iovine founded the company in 1989.

“I’ve always known in my heart that Beats belonged with Apple,” Iovine said in a statement. “The idea when we started the company was inspired by Apple’s unmatched ability to marry culture and technology. Apple’s deep commitment to music fans, artists, songwriters and the music industry is something special.”

No word on who will replace Dre as producer for the long-awaited Detox 2 release, but we’d bet that project ain’t never gonna happen now. The new Apple executives chopped it up with Cook and Apple SVP Of Internet Services Eddy Cue. 

appledrebeatsdealtwitter

Apple CEO Tim Cook tweeted “Sharing a laugh with Jimmy, Dre, and @. Excited to welcome the  team to . It’s all about the music.”  As you can imagine, they must have a lot to laugh about.

Dre’s statement via Instagram “Here’s to the next episode.” #AppleBeats.

(Photo: Tim Cook Twitter)

Like BlackAmericaWeb.com on Facebook. Follow us on Twitter.

6 thoughts on “It’s Done: Dre Joins Billionaire Boys Club With Apple Deal [PHOTO]

  1. pac4me on said:

    Congratulations Dre – we need to hear more positive news reports about black men doing business in a predominately white genre – Keep doing whatcha doing with or without those sneakers because shoes don’t make the man

  2. I love this story..and I especially love Dre doing business with sneakers on..it’s not how well one dress that makes one successful. I love to shock women by wearing sneakers with a dress anytime even for church they be snickering & stuff..Lol I know y’all don’t & so what. I don’t like wearing high heels that’s for those other women..not me. Men got it good.

  3. Just because he is a billionaire, does not mean he should stop working. You can only do but so much shopping, and or traveling. Maybe Dre, Oprah, Tyler, Magic and others can form a company to build up the minority neighborhoods, that are left to often out of city, and state projects.

Add Your Comment

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

×