Dr. Dre and Jimmy Iovine have reportedly sold their Beats headphone company to Apple for $3.2 billion. Dre confirmed the news that he is set to be Hip Hop’s first billionaire while in the studio with Tyrese in the video below.

The rumors were true to some extent. Beats By Dr. Dre was sold to Apple. But not for $3.2 Billion. Beats Electronics was sold to Apple for $3 Billion, and Dr. Dre‘s cut is currently unknown. He may or may not be the first billionaire in Hip Hop, but he’s definitely on the way regardless.