Dr. Dre Owes His Billion Dollar Fortune To Jimmy Iovine

2012 was a pivotal year for the company. Not only did they continue to make high quality headphones, wireless headphones, and speakers, but they entered the music streaming industry with the acquisition of MOG, Inc. for $10 million. MOG was transformed into Beats Music. A subscription-based online music streaming company, Beats Music used an algorithm to make personalized music suggestions to subscribers. While the introduction of Beats Music added to the Beats company coffers, it set the stage for an even bigger payday.

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