Grandstanding in the wake of good news can have both positive and negative effects in the long run. On one hand, we all want to publicly share our wins to give supporters something to cheer about and admittedly stunt a bit on the haters if we’re being honest. In contrast, the universe has a funny way of reminding us to be humble in response to behavior that some might perceive as braggadocio.
Hip-hop mogul Dr. Dre can attest to both sides of that argument if you can remember that now-infamous video he posted shortly before the epic $3 billion Beats By Dre deal with Apple was confirmed back in 2014. A new book now claims that celebrating prematurely cost him way more than we expected, including a $200 million cut that directly affected the billionaire status at the focus of his viral video.
In the newly-released book After Steve: How Apple Became A Trillion-Dollar Company and Lost Its Soul, author Tripp Mickle writes that Dre and singer Tyrese jumping for joy at the reported $3.2 billion deal in the clip (seen above) actually resulted in a breach of the confidentiality agreement. As the story goes, Dre’s Beats partner Jimmy Iovine summoned the leadership team to his Beverly Hills home once a price was agreed upon, telling them, “The only thing that could spoil it would be for word of the deal to leak.” Iovine apparently even pulled the “Don’t buy any furs. Don’t buy any cars. Don’t get showy” quote from Goodfellas while speaking with Dre.
Iovine eventually found out about Dre and Tyrese’s now-infamous showboating thanks to a 2AM call from Diddy. The music exec “cringed” at the sight of it, specifically watching Tyrese discuss being drunk on Heineken.
Read an excerpt from the book below, via iMore:
“When word of the video reached Cook, he summoned Iovine and Dre to Cupertino. He invited them into a conference room for a private conversation. Iovine was anxious and afraid that Cook was going to kill the deal. Instead of the anger and cursing that would have poured out of Jobs in a moment like that, Cook exuded calm. He told the music executives that he was disappointed and wished that Dre’s social media outburst hadn’t happened but said that the video hadn’t shaken his conviction that buying Beats was right for Apple.”
The price cut allowed for Jay-Z to sweep in during summer 2019 and claim the “first hip-hop billionaire” title, as noted by Forbes. While Dre’s estimated $800 million net worth is nothing to frown at in the least bit — literally, at all! — we have to bet he learned a valuable lesson that day. Stay humble, folks.
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Category: Urban EntertainmentTags: acquisition deal, After Steve: How Apple Became A Trillion-Dollar Company and Lost Its Soul, App Feed, Apple, Arts & Entertainment, Beats Apple deal, Beats By Dre, Black billionaires, boasting, Books, Celebrity News, Dr. Dre, Gone Viral!, Gossip, Grandstanding, hip-hop billionaire, jimmy iovine, Newsletter, Recording Artists