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Dr. Dre Tops Forbes' Hip Hop Cash Kings For 2014. Jay Z, Diddy, Drake, Macklemore Round Out Top 5 (Full List Inside/Video)
According to estimates from some headphone experts, it might cost more to get your haircut than it does to make a pair of Dre Beats headphones.
The company was sold to Apple in May of 2014 during a record-setting deal that included about $2.6billion in cash and approximately $400million in stock.
Company founders Dr Dre - aka Andre Young - and Jimmy Iovine are now Apple employees.
Some experts have estimated that it costs at little as $14 to make a pair of Beats by Dre headphones (pictured)
The least expensive pair of Beats by Dre headphones listed on the company's website costs $199.99
The company grew to become worth $3.2billion after celebrates like Lil Wayne began repping the Beats brand
Headphone designers estimate 'the cost of making a fancy headset is as low as $14', the New York Times reported.
The least expensive pair of Beats headphones that is listed on the company's website costs $199.99 and the most expensive pair retails for $699.99.
Dre and Iovine created the company in the mid-2000s.
Beats grew to become worth $3.2billion after cornering 57 per cent of the market for 'premium' headphones, CNN reported.
Overall, the company controlled 27 per cent of the $1.8billion headphone market in 2014.
During an audio test of 18 of the top-selling headphone brands, TIME Magazine ranked Beats as the second-to-worst entry in terms of sound quality
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Apple Acquire Beats For 3Billion, Dr. Dre & Jimmy Iovine Joins Apple Team+This could shake up the music biz
Forbes has rolled out it's list of Hip Hop's Cash Kings for 2014.
It should come as no surprise that Dr. Dre sits atop the list after Apple purchased Beats By Dre for $3 billion earlier this year. Jay Z and Diddy tied for No. 2 ($60 million). Drake and Macklemore break into the top 5 this year at No's 4 and 5 with earnings of $33 million and $32 million respectively.
Other notable names in the top 20 include 50 Cent, J. Cole, Kanye West, Birdman, Eminem, Lil Wayne, Nicki Minaj, Tech N9ne, Wiz Khalifa, Ludacris, Kendrick Lamarand Snoop Dogg. Check out the entire list below.
Forbes 2014 Hip Hop Cash Kings:
1. Dr. Dre: $620 million
2. Jay Z: $60 million
2. Diddy: $60 million
4. Drake: $33 million
5. Macklemore & Ryan Lewis: $32 million
6. Kanye West: $30 million
7. Birdman: $24 million
8. Lil Wayne: $23 million
9. Pharrell: $22 million
10. Eminem: $18 million
11. Nicki Minaj: $14 million
12. Wiz khalifa: $13 million
13. Pitbull: $12 million
14. Snoop Dogg: $10 million
15. Kendrick Lamar: $9 million
16. Ludacris: $8 million
16. Tech N9ne: $8 million
16. Swizz Beatz: $8 million
16. 50 Cent: $8 million
20. Rick Ross: $7 million
20. J. Cole: $7 million
20. DJ Khaled: $7 million
20. Lil Jon: $7 million
20. Mac Miller: $7 million
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Apple Set To Buy Beats By Dre For 3.2Billion. Dre Celebrates With Tyrese "The First Billionaire In Hip Hop" 
(L-R) Beats executive and media mogul Jimmy Iovine, Apple CEO Tim Cook, Dr. Dre and Apple head of services Eddy Cue.Photo: Apple
Apple’s $3 billion purchase of Beats Electronics could reinvigorate the tech titan — and shake up the music industry by boosting valuations of some companies, one music industry heavyweight told The Post.
The sale of Beats, co-founded by Jimmy Iovine and Dr. Dre, will form “a bridge between Apple and the music industry and help align their interests in getting behind subscription streaming in a big way,” according to Sony Music CEO Doug Morris.
“[Jimmy’s] dream is to take streaming music global and he created an enormously successful company” with Dr. Dre, Morris said in an interview Wednesday after Apple announced its purchase of Beats.
The announcement said both Iovine and Dr. Dre will join Apple’s payroll.
“I hope you are as excited as I am about this new chapter in our history,” Apple CEO Tim Cook said in a memo to employees.
The memo confirmed The Post’s exclusive story on Tuesday that the deal would come in at $3 billion and be announced this week.
Apple will shell out $2.6 billion cash — with an additional $400 million to vest over time.
“They made Apple look cool,” noted Morris, something even Apple seemed to acknowledge in its release. Apple gave props to the team’s ability to get Beats headphones into the heart of pop culture in under five years, noting that customized versions of the headphones have been created by Lady Gaga, Lil Wayne and Nicki Minaj.
“This is going to cause a lot of excitement and re-evaluation of record companies. It’s a rebirth of the record business,” said Morris, a good friend of Iovine, who first brought the music mogul’s Interscope label to Universal in the 1980s.
“I realized [Jimmy] is one of a few special people and gave him the opportunity, and that’s where Beats came from,” added Morris commenting on his friendship. “He’s now my richest friend.”
Iovine was one of the original supporters of Apple’s iTunes store and was friendly with the late Apple founder Steve Jobs.
Iovine, 61, is the chairman of Universal Music Group’s Interscope Geffen A&M.
After Morris led Universal’s investment in Beats, it was retained and nurtured by UMG Chairman and CEO Lucian Grainge through a variety of possible buy-out scenarios from HTC and Sony Electronics, among others.
“Based on mutual trust and respect, UMG’s singular relationship with Jimmy permitted his innovation to flourish in all these ways,” Grainge said in a statement.
Iovine, who held a 25 percent stake in Beats, is now worth $970 million, according to Forbes. Dr. Dre is worth up to $800 million.
Cheap? Beats by Dre Headphones cost just $14 to make
+++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++ 50 Cent, Diddy, Birdman, Jay Z & Dr. Dre Make Forbes Top 5 Hip-Hop's Wealthiest Moguls List [Video]
When Forbes rolls out it's next list of hip hop's wealthiest moguls, Dr. Dre's name will be at the top of it. Apple is reportedly set to acquire Beats Electronics for $3.2 billion. Forbes estimates the deal will push Dre's net worth to $800 million.
"The first billionaire in hip hop right here from the mother*cking West Coast, believe it,"Dre said in a new video.
The biggest asset of Beats would be the company’s streaming music service, which offers a much more thorough—and successful—social experience than iTunes," writes Gay Allen in Forbes. It’s advertised as ‘The right music for right now,’ using a very simple interface crafted especially for the mobile experience. Using the Beats iOS app, the user simply creates a ‘sentence’ explaining where they are, what they’re feeling and who they’re with. Beats then creates a playlist of the appropriate music. There are also additional paths to finding music, including by genre, artist playlist and curator. Once your music is playing, there are additional options to follow artists and explore their work, share playlists and comment on music….There’s no streaming music service so close to the ‘the scene’ than Beats. Incorporating the Beats technology into iTunes could generate a entirely new list of subscribers for the service, which now has over 800 million accounts.
The deal has not officially gone through yet, but it could be finalized by next week. Congrats to Dr. Dre for a job well done.
Dr. Dre celebrates Apple deal with Tyrese
Apple Reportedly Plans to Acquire Beats for $3.2 Billion
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WHO TOPS THE WEALTHIEST HIP-HOP ARTIST LIST: Forbes 2013 Cash King [Video Inside]
Back in 2007, Sean “Diddy” Combs teamed with Jay Z and 50 Cent to create a song titled “I Get Money: Forbes 1-2-3 Billion Dollar Remix.” Less than a decade later, rappers are closing in on ten-figure fortunes, and he’s the nearest of the bunch.
Diddy leads the pack with an estimated fortune of $700 million, an increase of $120 million over his net worth last year. The change comes largely from the addition of Revolt TV—the new, music-focused, multi-platform channel of which he’s the majority owner—to his already-hefty portfolio.
“Right now my focus is Revolt and making it the number one, most-trusted, most credible worldwide brand for music,” he told FORBES in a recent interview. “And to get Revolt to be the quintessential definition of real time. I think that’s the future.”
Dr. Dre Leads Forbes’ 2012 Hip-Hop Cash Kings List. See The Top 5.
Diddy has plenty of competition in the race to $1 billion. His top challengers are Dr. Dre, who ranks second with $550 million, and Jay Z, in third place with an estimated $520 million. The former leapfrogged the latter on this year’s Forbes Five thanks to a large stake in Beats By Dr. Dre, which he cofounded with Interscope chief Jimmy Iovine in 2008.
The company controls an astounding two-thirds of the premium headphone market, with annual sales reportedly in excess of $1 billion and growing. Private equity firm Carlyle invested $500 million for a minority stake last year, pushing Beats’ value past $1 billion and likely closer to $2 billion.
“Beats has a unique brand—it speaks to a nice young demographic, which is really interesting to marketers,” says Peter Csathy, former president of Musicmatch, an early digital music purveyor acquired by Yahoo YHOO +5.52% in 2004 for $160 million. “When I think about Beats, I think about it as a lifestyle, I think of it as a media company, not just a hardware and music-focused company.”
Jay Z’s fortune continues to grow at a healthy clip, too. He’s made multiple nine-figure deals in the past, including his $204 million Rocawear sale in 2007 and his $150 million pact with Live Nation in 2008. But much of his recent growth comes from Roc Nation, his record label and management firm that recently added a sports agency. The outfit gets a single-digit cut of pacts like Robinson Cano’s $240 million monster agreement.
(For more on Mr. Carter’s rise as a businessman, check out Empire State of Mind: How Jay-Z Went From Street Corner To Corner Office).
Next up: Bryan “Birdman” Williams, whose net worth would be over $300 million if he didn’t share his fortune with brother Ronald “Slim” Williams. The duo cofounded Cash Money Records two decades ago; Cash Money continues to grow with a roster that includes Drake, Nicki Minaj and Lil Wayne. Birdman has also diversified with Cash Money Content, GT Vodka and the YMCMB clothing line.
Rounding out the list is 50 Cent, who owes most of his fortune to his $100 million haul from the sale of Vitaminwater in 2007. Now he’s trying to repeat the feat with companies like SMS Audio and SK Energy beverages. In the meantime, he’ll reboot his music career by taking his G-Unit Records independent and releasing new album Animal Ambition in June.
“It was getting pretty difficult to launch music that everyone was paying attention to at the same time,” says 50 Cent of his final days at Interscope, the label that launched him to superstardom. “The company itself was going through so many changes that I didn’t really know the people involved in the projects anymore.”
In order to complete our Forbes Five list, we follow the same procedures we follow while calculating our list of the world’s billionaires: looking at past earnings, valuing current holdings, leafing through financial documents and talking to analysts, attorneys, managers, other industry players and even some of the moguls themselves—like Diddy, who already has his eye on the next generation.
“My advice to future entrepreneurs is to always know reality, to know what you’re getting yourself into, to know how hard it’s going to be, how competitive it’s going to be,” he says. “We’re in a time where the people that really work hard—and really believe in themselves, and really don’t give up on their dreams, no matter how many times they fall down—are the ones that are going to be successful.”
5. 50 Cent - $140 Million
4. Birdman - $160 million
3. Jay Z - $520 million
2. Dr. Dre - $550 million
1. Puff Daddy - $700 million
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1.Diddy---------$580 million
2.Jay-Z---------$475 million
3.Dr. Dre-------$350 million
4.Birdman-----$150 million
5.50 Cent------$125 million
Inside the Forbes Five:Hip-Hop's Wealthiest Artists 2013
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Comment
The cost to make and how much his headphones sell for is called, the nature of business. No one reveal the price it cost to manufacture products by crackers!!!! How much, or should I say little it cost to produce Prada, or Gucci, or any other name brand for that matter? Buy a polo shirt from the local store $10 bucks, simply put a logo of a name brand on it; e.g., Burberry, $250. So why the f-c* down a Black man when he do the same thing, oh, you would rather give your money to your open enemy, I understand... YOU ARE BUYING A BRAND, B****!.....
Anthony Phoenix why do people have to work hard and do for the black community, why is it like that, seriously, do you do for the community when you get your pay check, people will do for any one if they feel like it but it is not a must or something owed
Tall Island Girl thats the problem with dumb biggers once you do something they expect it for free, but will not support you, he rather spend 10 times from a white men instead from you and i thats why i dont tell niggers about my business i used a white person for everything i want to sell im good with all that n***** nonsense they can sure complaint but wont do better as long you are not struggling with them they have a problem, they get me sick f*** them all let Dre and all others get money, if they have a problem boycott apple and samsung, but wait that will not happen every n***** in the hood has a galaxy a tablet or ipad that does the same thing lol damn fools, they havent see nothing yet now the NY transit is raising their fair while the people still get the same salary,there will be more broke people, more crimes, less opportunities, well some of you should of made a move for a better life when you could, unless you have a career that is solid close to 100k or more a year or you live at home with multiple people, believe me 4 jobs will not help you, oh well im sure you will be fine, since i have been on here i have being advising folks to move out, invest their money, buy some where else they just dont get it, wait they gon raise sales tax too, if they raise the minimum wage in NY it will not make a different they will raise everything else, now complaint about that
Although I respect him for making this money, I still need to question what has he
(Dr. Dre ) done for the black community?
ahh suckers, I do not own one, neither do I own sneakers over a hundred dollars,
ok whats wrong with that idiots buy it and will buy it anyway, you idiots stand in line for the latest apple phone do you know how much it cost to make in the factory in China may be try $3 a phone and how much do apple sale it to you, well you find out and after that understand it is only business, wit so many idiots in the world if you make it they will come, if you keep telling them to buy it they will, its up to you to start your own business and offer it to the general public each day you wake up work and pay bills, trying to keep up with the rich it is your choice if you die poor, better you than me, i will not pay for anything that will not benefits me in anyway there must be something in it for me
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