Watch Dr. Dre Celebrate Becoming Hip-Hop’s First Billionaire   

A blog about business and economics.
May 9 2014 11:16 AM

Watch Dr. Dre Celebrate Becoming Hip-Hop’s First Billionaire   

When news broke yesterday that Apple had almost sealed a deal to buy Beats Electronics for $3.2 billion, I wondered whether the sale was going to make Dr. Dre hip-hop's first billionaire. Now we have an answer! Maybe! Last night, actor, singer, and former model Tyrese Gibson posted this pretty amusing (and profanity-filled) video to Facebook celebrating the Apple deal with Dre in the studio. Toward the end, he says: "They're gonna have to update the Forbes list." At which point, Dre himself pipes in: "The first billionaire in hip-hop right here, from the motherf---in' West Coast."

Oh, and the video seems to have accidentally confirmed the Apple deal before it was official. But, you know, details.

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In any event, The Wire notes that Dre only has somewhere around a 25 percent stake in Beats, which on its own wouldn't quite be worth a full billion at the reported sale price. Thankfully, rappers never exaggerate their wealth. So I think we can all rely on Dre's word.

Jordan Weissmann is Slate's senior business and economics correspondent.