Dr. Dre leaked multi-billion dollar Beats deal and his offer was cut by $200 million for the mistake.
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 posted a video boasting that he was “the first billionaire in Hip Hop.”
The deal was supposed to be for $3.2 billion but Dre was told to keep things quiet.
“It was a sum that [Jimmy] Iovine and Dre could barely fathom,” he writes. “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.”
After Diddy saw the video posted to social media, he told Iovine.
“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.”
The decided not to pull the deal but they knocked off $200 million for the leak.