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This morning Taiwanese electronics agency HTC launched that it is making an infinite $300 million funding into Beats By Dre, the headphone and loudspeaker mannequin created by rap music mogul Dr Dre and Interscope Records Chairman Jimmy Iovine. Beats By Dre will proceed to operate independently nonetheless will now have the cash to help extra advance evaluation and enchancment and broaden the mannequin establish globally. In the transient time interval clients can anticipate to see considerably higher audio system and headphones being included with commonplace HTC mobile devices and capsule pc techniques.

The most great part of this announcement is the windfall that Dr Dre himself is rumored to be receiving. For agreeing to lend his establish and movie to the mannequin it has been reported that his equity stake inside the partnership was north of fifty% which is fundamental many insiders to take a position that his take from at current's HTC announcement is someplace inside the $150 – $175 million fluctuate! Which means Dr Dre's internet worth has roughly doubled in a single day.

Dr Dre Net Worth / Elsa/Getty Images

In a press launch Iovine said:

The HTC and Beats by Dr. Dre partnership is an opportunity for two world-class firms to redefine the smartphone commerce and description the long term. For Beats by Dr. Dre, this represents a vital step in our continued mission to scrub up the destruction of audio introduced on by the digital revolution and reengineer how sound is delivered, so the customer feels the music the best way by which that the artist meant."