Dr. Dre’s Beats Deal With Apple Was Cut By $200M For Running His Mouth

Apple Cut Dr. Dre’s Beats Deal By $200 Million After Running His Mouth

It’s no secret that Apple bought their electronics back in 2014 from Dr. Dre and Jimmy Lovine. What we didn’t know is that the major deal was almost in trouble after Dr. Dre was in a video running his mouth about it.

According to The New York Times reporter Tripp Mickle’s new book, After Steve: How Apple Became a Trillion-Dollar Company and Lost Its Soul, Dre’s lil video with Tyrese about being “the first billionaire in Hip Hop” caused him to lose $200 million.

Apple had agreed to buy it for $3.2 billion, and agreed that the deadline would be kept private.

“It was a sum that Iovine and Dre could barely fathom, “reads an excerpt obtained by iMore. “As the lawyers worked through final details, Iovine summoned the leadership team of Beats to his home near Beverly Hills. He told everyone that they were on the cusp of finalizing a massive deal. The only thing that could spoil it would be for word of the deal to leak.”

 

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Tripp says Jimmy told everyone to keep their lips sealed, but sadly that wasn’t the case.

“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,” the book reads. “Iovine pulled up the video and cringed as he saw Tyrese bragging about being drunk on Heineken in a recording studio.”

Tripp says the video did end up making its way across on over to Apple’s Tim Cook.

“When word of the video reached Cook, he called Iovine and Dre to Cupertino,” he explains. “He invited them into a conference room for a private conversation. Iovine was anxious and afraid that Cook was going to cut the deal.”