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Monday, May 12, 2014

Dr. Dre to become rap's first billionaire with $3.2 billion Apple-Beats Electronics deal

Dr. Dre to become rap's first billionaire with $3.2 billion Apple-Beats Electronics deal
Dre is seen with his wife, Nicole Threatt.
 

Straight outta Compton — Dr. Dre is on the verge of becoming the rap world’s first billionaire.
The music mogul all but confirmed Friday that Apple was buying Beats Electronics, the company he co-owns that makes the good doctor’s wildly popular Beats by Dr. Dre headphones, for $3.2 billion.
Forbes calculated that after capital gains taxes, the deal would actually leave Dre about $200 million shy of being a billionaire. And his new net worth of around $800 million would not be enough to land him a spot on the Forbes 400.
But it would catapult Dre’s worth ahead of Puff Daddy, who currently tops the magazine’s rap-to-riches list with a net worth of $700 million. Dre, whose real name is Andre Romelle Young, is second at $550 million.


Read more: http://www.nydailynews.com/news/national/dr-dre-rap-billionaire-apple-beats-electronics-3-2b-deal-article-1.1786118#ixzz31Wu0kFEN 

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