Dr. Dre Owes His Billion Dollar Fortune To Jimmy Iovine

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The first step was to settle on a name for their fledgling company. Dr. Dre noted that he often uses the word “beats” to indicate music and Iovine concurred. They chose Beats by Dr. Dre. In the development stage, Dr. Dre and Iovine partnered with an audio component maker, Monster Cable, to design and built their first headphones. Iovine and Dr. Dre, along with Monster CEO, Noel Lee, even polled other musicians, including Gwen Stefani, Pharrell Williams, and M.I.A., to get their input on sound quality and design. The first Beats by Dr. Dre headphones hit the market in 2008.

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