Sorry Dr. Dre, the Real Beats Billionaire Is Iovine

REPLAY VIDEO
Your next video will start in
Pause

Recommended Videos

  • Info

  • Comments

  • VIDEO TEXT

May 12 (Bloomberg) -- When news spread last week that Apple was near an acquisition of Beats Electronics for $3.2 billion, Beats co-founder Dr. Dre appeared in a video boasting of becoming the “first billionaire in hip hop.” Bloomberg's Peter Newcomb examined whether or not that would be true. (Source: Bloomberg)

What did you find out?

Jimmy has more of a stake than dr.

Dre.

It will make jimmy a billionaire, dr.

Dre will fall in little bit short.

We should not fill story about hi -- feel sorry for him though, because it will be $640 million.

If it is a stock deal, that would lose all of the taxes involved so that will be a lot more.

He has a storied history in the music industry, what is his status in those whole billionaires world?

He made a lot of money.

He cofounded interscope records who is the heir to the marshall fields fortune.

They founded that and rotted back at a discount when warner had a big piece of it.

They bought it at a discount, sold it, and made a lot of money.

This guide has made a pile of money and cover the ration and royalties.

He has been producing engineering record since the 70's. . you have a lot of the records that jimmy has made.

What about dr.

Dre?

He just lost a loss, he was suing trying to collect some old royalties he felt he was owed.

He had about 150 million you -- $150 million.

Is there any idea of where these -- who they would displace in the billionaire ranking?

It is hard to say.

He is not the first music mogul to become a billionaire.

David took that path a long time ago.

He is a mere one billion guy.

This text has been automatically generated. It may not be 100% accurate.

Advertisement

BTV Channel Finder

Channel_finder_loader

ZIP is required for U.S. locations

Bloomberg Television in   change