Apple In Talks to Buy Beats by Dr. Dre For $3.2 Billion

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Apple In Talks to Buy Beats by Dr. Dre For $3.2 Billion - 0

With nearly $159 billion in cash on its balance sheet, Apple will finally spend some of it as the tech giant is close to purchasing Beats Electronics, the maker of Beats by Dr Dre headphones and Beats music streaming service. The deal, rumored to be around $3.2 billion, will be Apple’s largest acquisition to date. It will also make Beats’ co-founders Jimmy Iovine and Andre Romelle Young, best known as Dr. Dre, instant billionaires. Already ranked #2 on Forbes Magazine’s Wealthiest Hip-Hop Artists List for 2014 with an estimated $550 million in personal assets, the purported purchase by Apple will make Dr. Dre hip-hop’s first billionaire.

Apple In Talks to Buy Beats by Dr. Dre For $3.2 Billion - 1

Apple In Talks to Buy Beats by Dr. Dre For $3.2 Billion - 2

via: FT