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After basically just a few days of rumors, it looks like Apple has in fact bought Beats by Dre and didn't hold back in terms of dropping change. According to Dr. Dre, Apple has purchased the expansive music company for $3.2 billion.
Forbes reports:
Late Thursday night ... Apple was in talks to buy Beats for $3.2 billion; the deal would be the computer giant's largest acquisition ever. Dre's stake in Beats currently stands at somewhere around 20-25%; we valued the company at $2 billion in our latest round of estimates. A sale for $3.2 billion would nearly double the value of Dre's holdings, though capital gains taxes could take a bite out of his big payday, likely leaving him with a net worth in the neighborhood of $800 million. It's not quite enough to land on the Forbes 400, but it would easily make him hip-hop's richest man, topping current champion Diddy by $100 million.
"Beats has a unique brand-it speaks to a nice young demographic, which is really interesting to marketers," says Peter Csathy, former president of Musicmatch, an early digital music purveyor acquired by Yahoo in 2004 for $160 million. "When I think about Beats, I think about it as a lifestyle, I think of it as a media company, not just a hardware and music-focused company."
In a great new video from World Star Hip Hop, we see Tyrese Gibson and Dr. Dre celebrating.
"Oh sh**, the Forbes list just changed. It came out like two weeks ago, they need to update," Tyrese tells the camera. Forbes is already on top of this change.
Watch this video right here:
