Today (May 28, 2014) Apple has reached a deal to purchase Beats Music and Beats Electronics for a whopping $3 BILLION dollars! As a part of the deal, the co-founders of Beats, Dr. Dre and Jimmy Iovine will join Apple as apart of the company.  Tim Cook stated that the acquisition of the headphone and audio-electronics company will help Apple to “continue to create the most innovative music products and services in the world.” This is the largest deal apple has ever made.

Dr. Dre was seen celebrating the news earlier this month in a video posted online on Tyrese Gibson’s instagram.

“The first billionaire in hip-hop right here from the motherfu**ing West Coast,” Dre said.

According to Forbes, the deal would bump Dre’s net worth to around $800 million. While not quite enough to land on the Forbes 400, it would easily make him hip-hop’s wealthiest mogul, topping current champ Puff Daddy by $100 million.

Congrats Dr. Dre!