Dr. Dre Lost $200 Million From Apple Beats Deal

Remember when Beats were by Dre? Well, after Dr. Dre sold his headphones over to Apple, he recently revealed he nearly lost the deal that made him a billionaire – in addition to $200 million – due to an early leak from a social media video on the acquisition. The details of the deal were exposed in a new book by New York Times reporter Tripp Mickle titled ‘After Steve: How Apple Became A Trillion-Dollar Company And Lost Its Soul.’ Mickle writes about the famous deal between Dr. Dre and Jimmy Iovine to purchase Beats Headphones.

Mickle writes: “At 2:00 a.m., Iovine got a call from Puff Daddy, who was screaming that Dre and Tyrese, a rapper, were talking about the deal in a Facebook video. Iovine pulled up the video and cringed as he saw Tyrese bragging about being drunk on Heineken in a recording studio. When word of the video reached [Tim] Cook, he summoned Iovine and Dre to [Apple’s headquarters in] Cupertino…He invited them into a conference room for a private conversation. Iovine was anxious and afraid that Cook was going to kill the deal […]. He told the music executives that he was disappointed and wished that Dre’s social media outburst hadn’t happened but said that the video hadn’t shaken his conviction that buying Beats was right for Apple.”

Source: BET