Dr. Dre Set to Be Hip Hop's First Billionaire

Apple is poised to buy Beats Electronics in what could be the biggest deal in history.
2:30 | 05/10/14

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Transcript for Dr. Dre Set to Be Hip Hop's First Billionaire
Apple possibly poised to make the biggest deal in its history. And in the process, create what could be hip-hop's first billionaire. This is about Dr. Dre's popular company, beats, which does headphones and much more. And Sara Haines is on the story for us. You're not wearing the headphones. I was expecting it. The beats headphones that we see on celebrities, are the buzz about cool factor in the deal. But it didn't how we're listening to the music but how we're getting our music that's at the center of this megamerger. An unprecedented title after suspected deal. Hip-hop mogul and headphone tycoon, Dr. Dre, with Tyrese Gibson. And seeming to confirm the beats co-founder made with apple. The selling price, rumored to be a whopping $3.2 billion. They need to update the "Forbes" list. Reporter: Apple is buying into the brand of beats. You can't write this off to services and technology and users and the metrics of an acquisition. They're buying some cool here. Reporter: This is the largest purchase for apple ever. The company is looking to take a bite out of more than the sales of the high-end headphones, worn by stars like robin Thicke, wi will.I.am and Lebron James. A model that Steve jobs said, people want to own their music. Downloan to streaming is growing. You want to get into the growing business. Reporter: While it's unclear if this merger will actually move Dr. Dre to billionaire status, it proves that the way we listen to music is once again changing. We are all moving away from files and towards streaming. Towards services that can guess and predict what we want to hear. It's basically intelligent robotic radio. Pretty much the jams I'm getting are better than anything you've got here. It's hot over here. There's a weird echo in here. This is great for Dr. Dre. It's amazing. It's weird that you realize that itunes and -- downloading music is over ten years old already. That's another way of saying we're all getting old. You could overtake 50 cent, who made a half-billion in the vitamin water deal. If Dr. Dre becomes the first billionaire. Don't be an athlete. Be a rapper. Jay Z will be calling him for money. Needs to borrow a few. Let's get over to Erin

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