Apple buys Beats by Dre

Hip-Hop mogul Dr. Dre just became the world’s first billionaire rapper. Apple bought Beats Electronics for $3.2 billion.

Beats Electronics is the company behind Dre’s popular “Beats by Dre” headphones. Dr. Dre and Jimmy Lovine founded Beats. Despite the hefty price tag for a pair of the headphones, they are a fashion statement with a signature “B” on the ear. They are as popular with teen as they are with celebrities.

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