You hardly ever get acquisition updates from World Star Hip Hop, but the blog just posted this video of Dr. Dre and Tyrese confirming Apple's $3.2 billion deal with Beats over some Heinekens.
"Oh shit, the Forbes list just changed. It came out like two weeks ago, they need to update," Tyrese tells the camera. Forbes was already on the case. The magazine reported that Dre's stake in the headphone and streaming music company is currently between 20 and 25 percent:
A sale for $3.2 billion would nearly double the value of Dre's holdings, though capital gains taxes could take a bite out of his big payday, likely leaving him with a net worth in the neighborhood of $800 million. It's not quite enough to land on the Forbes 400, but it would easily make him hip-hop's richest man, topping current champion Diddy by $100 million.
Although Dre cofounded Beats, last year the Carlyle Group bought a minority stake in the company for $500 million. According to Fortune's Dan Primack, the leveraged buyout firm will be "the big winner" in the deal:
Or, put another way, Carlyle may be about to triple its money in just eight months. Or, put even another way, Carlyle may book around $1 billion in profit before even celebrating its investment's one-year anniversary. Can't calculate the internal rate of return without specific data points, but safe to say it's massive
At least this party looks like more fun than drab carpets and Cristal.
[Video via World Star Hip Hop]