Not so fast, Apple has reportedly revised its acquisition of Beats or could even pulled out of the deal all entire and it’s mostly due to Dr. Dre’s premature celebration where he rant about being hip-hop’s first billionaire.
According to the New York Post, Apple has lowered its valuation of Beats from $3.2 billion to 3 billion. That could cost Dr. Dre and Beats co-founder Jimmy Iovine $200 million less than the initially offer.
Earlier this month news of the Apple’s acquisition of Beats surfaced online and within 24 hours Tyrese posted a video on Instagram of himself, Dr. Dre and friends celebrating. In the video Dr. Dre rant that he is hip-hop’s first billionaire.
But not so fast because Forbes has estimated Dr. Dre’s net worth to be closer to $800 million if the deal goes through.
The deal could see Dr. Dre and Jimmy Iovine taking on executive roles at Apple’s music division.