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Dr. Dre has a chance to make rap music history by becoming one of the first rappers to be worth well over $1 billion. Apple is reportedly in the process of acquiring Beats for $3.2 billion.
Currently, Dr. Dre is worth an estimated wealth of $550 million and he is the second wealthiest rapper/hip-hop artist in 2014. Sean Combs, aka Puff Daddy, has a net worth of $700 million. If this deal went through with Apple, it would put Dr. Dre in the number one spot when it comes to wealth for rappers and hip-hop artists, CNBC added.
The Apple deal was first reported by The Financial Times on Friday. Apple has yet to comment.
Time reported that Apple is looking to have its first online music streaming product as the digital age of downloading music is winding down. Services that allow music fans to stream their music instantly such as Spotify, Pandora and Rdio have become increasingly popular, which has put added pressure on Apple to move into this growing space.
If the deal was reached with a price tag of $3.2 billion this would be the largest acquisition in Apple's history by more than three times any other deal.