50 Cent Describes How He Played A Part In The Eventual Beats By Dre/Apple Deal
The blockbuster $3 billion deal between Apple Inc and Beats Electronics sent shock waves through both the business world and the music world. As a result of the technology giant purchasing Beats, co-founder Dr. Dre made $620 million in one year, easily landing him atop the Forbes Hip Hop Cash Kings list.
Another selection on the Forbes list has now revealed how he indirectly helped make the entire transaction happen. 50 Cent was asked about the Apple/Beats deal in an interview with XXL, and the G-Unit leader says one of his business dealings with Apple founder Steve Jobs played a role in establishing the iPod maker’s relationship with Dre’s Beats partner Jimmy Iovine.
50 Cent said:
We were selling sneakers and the idea was to sell speakers. Dre was going to follow and sell sneakers. G-Unit shoes made $80 million in that timeframe. After he seen it, he was like, “You doing what selling sneakers?” I sat in a meeting with Jimmy [Iovine] and Steve Jobs. Was there for about 10 minutes and we were talking. I told them, “You think you could sell like that—an iPod, I can sell an iPod, are you kidding me?” [Jobs] looked at Jimmy, and Jimmy was like, “Strangely enough, the kid is telling the truth.” At the time, I’m the first person to do Apple product placement with the iPod inside a music video or anything that they spent money on at that point. That dude gave me $175,000 that went against recouping the budget for “P.I.M.P.” The remix, me and Snoop, you see me get up with the girls with the white hats, the iPod is there. That’s the first time they ever did that and they did it because I convinced them that I could sell an iPod. From there, Jimmy and Steven built a good relationship.