imageReportedly, Apple is set to buy headphone maker Beats Electronics by Dr Dre for $3.2bn (£1.9bn). The rapper and fellow music producer friend Jimmy Lovine founded the firm in 2008 producing beats by Dr Dre headphones and the music streaming service. Let last year the duo received $500 million investment from Carlyle group bringing the firms value to $1 billion .

Fans were tipped off by a video posted by singer Tyrese Gibson showing Dr Dre boosting of his becoming the first hip hop billionaire . Speculations has it that what seems like apples largest acquisition deal will be announced as early as next week. Apple is said to be sitting on over $133billion in cash.