On May 8, 2014, the Financial Times reported that Apple was in negotiations with Beats to purchase the company for $3. 2 billion—the largest purchase in Apple's history and well ahead of its $429 million purchase of NeXT in 1996. The impending deal was prematurely and indirectly revealed in a photo and YouTube video posted to Facebook by Tyrese Gibson on May 8, 2014; the video documented a celebration in which Gibson and Dr. Dre made boasting remarks about the acquisition, with Dre declaring himself the "first billionaire in hip hop", while Gibson declared that the "Forbes list" had changed. Both the photo and video were removed from Facebook the following morning, but both remain on Gibson's YouTube channel. Indeed, analysts estimated that the rumored deal would make Dr. Dre the first billionaire in the hip-hop music industry in terms of net worth, assuming that he held at least 15% ownership in the company prior to the deal. Dr. Dre was listed with a net worth of $550 million on Forbes' The World's Billionaires 2014 list. It was also estimated that the Carlyle Group would receive a profit of $1 billion from the sale of its minority stake in the company.
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