Apple ‘Closing In’ On Dr. Dre’s Beats For $3.2 Billion

According to the Financial Times, Apple is just before the acquisition of Beats Electronics. Beats manufactures headphones and operates a Spotify-like streaming service since the beginning of the year. The purchase price is estimated to be $3.2 billion U.S. dollars. Recently, the company was valued at only $1 billion after it’s $500 million dollar investment from Carlyle in September 2013.

Beats Electronics was founded in 2006 by rapper Dr. Dre and Jimmy Iovine. The acquisition would probably change Dr.Dre ‘s Top 3 position in the category “The richest rappers” (1. P.Diddy – $ 700 million, 2. Dr.Dre – $550 million, 3. Jay Z – $ 520 million).

Source: Forbes