Dr. Dre may become a billionaire
May 10 , 2014
Apple may make a massive deal with Beats Electronics, which would result in rapper and producer Dr. Dre becoming a billionaire. The Financial Times reports that Apple plans on buying the company known for its wireless speakers and headphones and Dre has a big stake in the company so the deal would get him about $800M.
"Apple CEO Tim Cook has been under pressure to invest the company's enormous cash pile into new products," as per Quartz. "But sometimes, it's easier to buy than build."
Business Insider noted that the move is confusing since products by Beats aren't considered to be the best ones in the industry.