Dr. Dre let the excitement of the pending Beats Apple deal cost him some money a new book details.
Tripp Mickle’s new book After Steve: How Apple Became a Trillion-Dollar Company and Lost Its Soul shared an interesting nugget about the infamous Beats Apple deal and its announcement to the world. Per Mickle’s book, he writes that Tim Apple, oops, we mean Cook saw the deal as his easy way into the music streaming service.
The book also reveals that Dr. Dre’s partner Jimmy Iovine had a feeling a leak could spoil the massive deal. Little did he know he would be right and that it would be his business partner doing the leaking. “At 2 am, 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,” Mickle writes in the book.
LOL at the book referring to Tyrese as a rapper.
Anyway, we all remember that infamous video of Puff, Dre, and Tyrese celebrating the deal with Dre bragging that Forbes needs to update its list of billionaires to now include “Hip-Hop’s first billionaire.” A moment we all celebrated in the Hip-Hop world only for Forbes to hit us with the aht aht aht, not so fast.
“When word of the video reached Cook, he summoned Iovine and Dre to Cupertino,” Mickle recounts. “He invited them into a conference room for a private conversation. Iovine was anxious and afraid that Cook was going to kill the deal.”
Cook instead expressed disappointment in Dre leaking the deal telling the legendary music producer and exec that he wished he didn’t share that post on social media. Days later, Cook demanded a renegotiation and shaved $200 million off the deal knocking Dre out of the billionaires club.
“The reduction led staff at Beats to say that Apple had given Dre just enough of a haircut to make sure that he did not become a hip-hop billionaire,” the book states.
Dr. Dre is still a very wealthy man. We are still waiting on Detox.
Photo: Bernard Smalls / @BeanzGotGamez