It's official: Apple buys Dr. Dre's Beats Electronics for $3billion | Welcome to Linda Ikeji's Blog

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Wednesday, 28 May 2014

It's official: Apple buys Dr. Dre's Beats Electronics for $3billion

It's official. Dr Dre is set to become the first billionaire in Hip Hop. Apple Electronics announced today that it has acquired Dr Dre's Beats Electronics for $3billion. According to Forbes, Apple paid $2.6billion cash upfront and gave $400million in stock that will vest over time.

The $3billion purchase price includes Beats Music, the sister company that runs a subscription streaming music service. As part of the deal, Beats co-founders Dr. Dre and Jimmy Iovine will join Apple in undisclosed roles.
"Music is such an important part of all of our lives and holds a special place within our hearts at Apple,” CEO Tim Cook said in a statement released today. “That’s why we have kept investing in music and are bringing together these extraordinary teams so we can continue to create the most innovative music products and services in the world.”
This acquisition is Apple’s biggest and largest acquisition since the inception of the company. Apple made $171 billion revenue last year, while Beats made $2 billion.

94 comments:

destiny egharevba said...

I knew that deal was gonna happen even posted it on my blog. Congrats to u dr dre u deserve it. Typical Igbo man

hilary obiorah said...

Congratulations to both parties now waiting for Dre to go use the money and finish the Chronic album. We have waited forever.

BELINDA said...

Father lord...remember me oooo!!!!!! chei chei chei!

Anonymous said...

Dr. Dre owns only 25% of the Beats by dre company so that's below $800,000,000 then tax gets half of the money. He is currently worth about $500,000,000 so all in all he hasn't quite hit the one billion dollar mark yet.....

The Analytical Observer

Anonymous said...

One word #Boss

Amuma1

Debbie Chelsea said...

Gud

Jane said...

Yeeeeekppppaaaa! See moneyOoooooooo!

Olaleye Adisa said...

Wow!!!!!! Great one there. Congratulations to you Dr Dre. To canal with bad belessssssssss. ⌣̊┈̥-̶̯͡»̶̥♡thanks ⌣̊┈̥-̶̯͡»̶̥ 

Anonymous said...

Money to be made,street life paying off....Arc ugoes

Onyeka F! said...

So much money!
Isn't Adam the background coaching guy for the last season of American Idols? It's him!!!
Wow!!!These guys are so simple, even with all their money!!! Naija pips, take note!

Tobi said...

So happy for Dr dre

Abideen Akinbode said...

Too much money for Dr Drey.... Bravo!!! Baba God don't forget me too ooo.

Anonymous said...

Congrats boss

sisi said...

Wow....dats some shindig right der!...congrats dawg

Nwa Aba said...

About 450 billion naira, Dr dre don Hammer

Anonymous said...

aunty oya wake up! this gist is not new

TYMER DE VOICE said...

If I were dre I no sell o money too small joor

Dj kenzy said...

Dats a nice move by apple company.

Dj kenzy said...

Nice move.

Anonymous said...

why do i feel this aint right?...oga dre..u made 2 billion in sales and sold your company for 2 billion?..hian....and they employed u?...so u left being a ceo to being an employee?...and add u are african american...there are very few of your kind that pple look up to. wrong move bro...would have sold it for much more though.

Stanley Nzegbunam said...

That's my big hommie from westcoast..... Diddy ain't the only one topping Forbes u know. Dr Dre congrt..

Anonymous said...

U make sense.

Anonymous said...

What do u know abt moni....*Ndi owu n'asa ana afuwa cha* PhynoSVoice#
Jennipukka

Anonymous said...

Na why u go remain for Effurun dey flex. Lol

Anonymous said...

Mumu father lord remb u for wetin?

Anonymous said...

$2b in Sales will probably translate to about $300m in profit. Selling ur company for the equivalent of 10yrs profit is a pretty good deal. The usual factor ranges from 4 to 7.

Anonymous said...

Otondo b observing don't go n create mumu

Anonymous said...

Useless u was dre poor before mumu

Anonymous said...

That is y u will remain poor forever mumu boi

Anonymous said...

I thought the same thing too

Kelvin Alaneme said...

I seriously think he should have waited. He made $2 billion in revenue last year and the business was still booming. Could have doubled his revenue by year end which is over and above what he sold for. Whatsapp was courted by Facebookfor long but they held out and grew the company. Eventually sold for $19 billion.

Kelvin Alaneme said...

I seriously think he should have waited. He made $2 billion in revenue last year and the business was still booming. Could have doubled his revenue by year end which is over and above what he sold for. Whatsapp was courted by Facebookfor long but they held out and grew the company. Eventually sold for $19 billion.

Anonymous said...

Some much for 'DRY HATING'...sometimes its advisable to hold off on stupid assumptions. Congrats Dre.

Anonymous said...

People be talking like he's the sole owner of the company...he's getting like 800million from the deal....half goes to tax and the remaining 400m dollars to him....

Small now, he'll hit the 1billion dollar mark...

Sweeeeeeeetttttt!!!!!

Anonymous said...

Baba God knw forgt me O. I dey heRe to.....we all gonna make it. Linda did it to. I wanna buy linda ikeji's blogs. God bless u linda, xo omar...atunda,

Anonymous said...

2 billion revenue, not profit sir.

@MeetdrealEvans said...

Beyonce wudnt mind leaving Jay for Dre nw, or kim leaving kanye for Dre, his d next available bus for dem naw...

atinuke bello said...

Thank God

Anonymous said...

Congrat boss dre

MAHA said...

Rich For life!!
No be pple like Rick Ross!!

Anonymous said...

Bitch pleeeeeaaAaaaaassssseeee! U d BOSS.

Anonymous said...

Nice one...I don dey find person wey go talk am....d whole money isn't for em..

Okoro said...

Congrats to him..

Vivian Chekwube said...

I hope this man knows wat he is doing by selling this company. Anyway am hapi for him

yusuf said...

Calculator, will you know more than Forbes?

Anonymous said...

U are correct..he aint a billionaire yet even with the sale.....................#King

vicegee Osas said...

Felt is wrong deal,bt tink again if he invest wisly,he started a company b4, he can start som again,cudos dr beat.

@edDREAMZ said...

So this dude just turned billionnaire.... Happy for him.....
.
.
.
***CURRENTLY IN JUPITER***

Anonymous said...

You are mistaken my friend. Actually he owns more than 50% shares in the newly acquired company by Apple. So he has hit and surpassed the 1 billion dollar mark. #researchisyourfriend

Anselm Trump Okpara said...

Ok, that's a huge sum Dre. But trust me, I wouldn't sell that company where I in your position. The best deal would have been to issue some stakes to Apple and use their goodwill to boost the company, this way both company's will still be better-off at the end of the day while you still remain the boss. You have your reasons though, I guess

Shoutozone said...

I knew Apple wouldn't jeopardize dat deal bcus of som1's view or wat som1 says... Both parties will make big profits frm d transaction. I knew Apple was gonna buy it. Congrats Dr. Dre

Amarachukwu. said...

Congrats Boss#

Anonymous said...

Lol.

PURPLE said...

Like foreverrrr

PURPLE said...

Hmmmm...thoughtful

Anonymous said...

Thank U mr calculator. Go & make ur own money. Instead of u to congratulate d guy u are saying non sense.

Anonymous said...

$500,000 000 u said, frm a musician & u think its not worth celebrating? Hv u handled $100,000 in ur life? Haters like u hardly progress. U are wicked & senseless.

Anonymous said...

Thank U mr calculator. Go & make ur own money. Instead of u to congratulate d guy u are saying non sense.

DOBY DOBY said...

Woow.. hes lucky. . Soo much money

Anonymous said...

If he made 2 billion as profit why then did he sell it for 3 billion?,wrong move

Anonymous said...

For your mind, you think say Dr dre nor go channel him $800million through some smart investment vehicles, thus making sure the taxman gets as little as possible? You think say him go just mumu carry d moni just go meet taxman to collect 50%? Jewish accountants wey other billionaires dey use don finish?

First hip hop billionaire abeg!!!

By the way, the guy weed go be proper highest grade (oyel go dey commot from the mouth), straight from the farms of Ondo and picked just the day before. Yeah.

Anonymous said...

Baba GOD oya turn up my own story too for good ooooo. Owo Tabua...... OLUWASEGUN

Candyflosss said...

You took it right outta ma mouth, he jst owns part of the beats company after tax it leaves him with almost nuffin... Congrats all the same!

KriZo 01 said...

Westside for life. RIP Tupac.

Anonymous said...

Linda,deir is anoda bomb blast at kurudu market now.

KWEEN said...

Congrats to him but I have my reservations about this. If Dre made 2billion dollars in revenue last year, why is he now selling it for 3billion? I mean, he wasn't doing badly at all. It's possible he could have made more or close to 3billion this year. Oh well, I believe he knows exactly what he's doing and I pray it turns out very well for him.

Anonymous said...

Thnk you. So much 4 all those blaming Tyrese b4. I hpe u see nw, sme friends are actually happy 4 u. Cngrats Dr.Dre. Let's chop the money now. I'll send u my acc number :) -----C21

Jay said...

Dre only owned about 20% of the company and after taxes he is walking away with about 400million USD. So technically he's not a billionaire yet. Kudos to him anyways.

Anonymous said...

Kip hustling!,I dnt care wat u do as long as d outcome is income.#richiexxx.

Aniekan Fabian said...

I see nowadays every body wanna talk like they got sometin to say but nothing comes out when they open move their lips just a bunch of gibberish motherf**kas forget abt dre....culled from 'forget about dre'...congrat

chemmywalata walata said...

It's okay

Anonymous said...

Wow! Congrats Dr Dre!!!... Apple pls com nd buy me ooo,just $20billion.... By @succcessralu

Anonymous said...

Sharap forming analytical observer,when u just copied and pasted from an earlier statement by Forbes magazine. Oloshi

Obilo Collins said...

Dr.Dre is so Perfect. Latest inductee of Billionares in town

>VIA TECNO B3.

orobosa austine said...

Heard he only owns 20% of beats...he might not reach the billion mark after taxes are paid

Anonymous said...

Anon 12.18, u b proper mumu..Dre owns 65% of d company, if not, y would som1 dat owns 25% be d ceo ? Google or ask persn pls. Besides, he's currently worth over $300m.. Dre is a smart man, real biz man..I luv me Dre n Diddy, dos 2 men kno d bizes of music

Dj Kimono said...

Oh Gawd!! Apple's product wey expensive before, Beats by Dre would now be freaking expensive...not a good idea oh!..

SEX AND INTIMACY said...

Good for him if he is happy. What we think about the deal isn't relevant

AIO said...

Taught am the only one that noticed! After all the noise the apple coy made about being conservative he should ve billed higher than that. Anyway whatever rocks his boat sha

Rita Usman said...

Congrat to him am so happy for him God bring me my own breakthrough

Anonymous said...

is it still goin to be beats by dre or beats by apple?

Anonymous said...

Why then did he sell? If not to become the first hip hop billonire

hrm paul ojeih said...

Hahaha haters die its official the chronic beat maker the g funk creator the doggy dog beat maker the marshal matters creator the fifdy in da club beat maker Nate dog music and me maker has finally done it wen dey said tyrese Gibson was dry hating (that was Linda ikejis statement) i knew it was bull shit wat will be will be and its official dre has hit the bulls eyes

Olutimain Alvin said...

CONGRATS

omolayo adeyemo said...

@meetdrealevans,ode.com u tell u beyonce marry jay z bcos of moni. She loves him unconditionally despise his flaws

Anonymous said...

Ndi business. More grease to your elbow jare.

Cagey Berry said...

Hmmm.....good for him.

APPLE said...

That is a lot of cash.

Anonymous said...

CongrAt Dr Dre

Anonymous said...

Dr Dre is not the only person in involved in this deal I believe other celebs invested in the company.... the likes of lady Gaga, pdiddy and so many others.

Ayo Badejoko said...

I am inspired never to give up.

The Worshipers said...

Work!!

olaura kahi said...

very smart move. more money for him.

Beats For Sale said...

Its truely amazing... I am a huge fan of your work..

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