Hip-Hop Super-Producer Dr. Dre has sold more than half of his audio company Beats Electronics for a massive $300 million.
Dr. Dre (real name Andre Young), 46, established the company in 2008 and has had success with his line of ‘Beats By Dre’ headphones.
The company specializes in making high end headphones, which are customized for a variety of music stars, who sell them to their fan base.
In addition to the ‘Beats by Dre’ line, ‘Beats Electronics’ has made headphones for artists such as Lady Gaga, Justin Bieber, Sean ‘Diddy’ Combs and others.
Dre also teamed-up with computer giant HP and car manufacturer Chrysler to launch products featuring the high quality ‘Beats Audio’ technology, and now he’s sold a 51% stake to Taiwanese cellphone manufacturer HTC (maker of the Sprint EVO).
According to the Wall Street Journal, the company was acquired to improve the sound quality on phones, music, video games and movies for HTC.
Dr. Dre will continue to run ‘Beats Electronics’ corporation.