• Acquiring organization: Apple Inc.

  • Iovine became a billionaire on arrival at Apple in 2014 with his longtime friend and business partner, rapper-producer Dr. Dre, after the company paid the duo billion to purchase Beats Electronics — .6 billion in cash and million in stock (the deal was announced in May and closed in August).

    Secondly, what percentage of beats did Dre own? Iovine and Dre held the lions share of equity, with Interscope parent Universal possessing a large chunk as well. Lee eventually negotiated a 5 percent stake in Beats.

    Besides, is Dr Dre a billionaire 2019?

    Dr. Dres Net Worth: Million In 2019. Dre proclaimed himself a billionaire, but Forbes still doesnt agree with the assessment made in the wake of Apples billion 2014 purchase of his Beats By Dr. Dre headphone line.

    How much did Apple pay for Beats by Dre?

    On August 1, 2014, Apple acquired Beats for billion in a cash and stock deal, the largest acquisition in Apples history.

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