Dr. Dre could become the world’s first billionaire rapper. His headphone company may be purchased by Apple.
For teens and young adults, Beats Headphones are a status symbol. However soon, they might be owned by another company with a cult-like following: Apple.
It’s reportedly in talks to buy Beats, which is known for its high-dollar headphones. The price tag? A cool 3.2-billion dollars. If it goes through, it will be apple’s biggest acquisition ever and frankly, a departure for Apple.
It isn’t known for spending a lot to buy other companies. Instead, Apple has made a name as an innovator. However, why not? 3-billion is a drop in the bucket for Apple. It has nearly 160-billion dollars in cash lying around.
Also, by purchasing Beats, Apple would also get a streaming service. Apple has streaming service of its own, i-Tunes Radio, but so far, it hasn’t really caught on. Sales of songs and albums on i-Tunes are slowing but right now, it’s just speculation and not a done deal.
CNN reached out to Apple and Beats, but both declined to comment. It could be a really big pay-day for Beats part-owner Dr Dre. Making him the first hip hop billionaire.