Music mogul Will.i.am recently shared his journey to raking in millions from Dr. Dre’s Beats headphones, a venture he joined from its inception.
In an exclusive interview with HipHopDX, the Black Eyed Peas icon detailed the genesis of Beats By Dre and reminisced about an initial dialogue with Interscope Records founder Jimmy Iovine.
Will.i.am and Beats Story
“After returning from tour one day, I told Jimmy, ‘These brands are exploiting us, leveraging our influence to sell their product. We need to create our own product, our own hardware,'” he said. “Jimmy then quips, ‘You know why they call it hardware, Will? ‘Cause it’s hard.'”
Will.i.am played a pivotal yet discreet role in the inception of the iconic audio brand, contributing his innovative ideas and insights. He foresaw the potential in creating high-quality audio hardware and collaborated with industry luminaries. The rapper and producer proposed to Iovine the idea of marketing their own equipment.
‘With your ideas and Dre’s Dre-ness, we could do something,” Will.i.am, recalled lovine telling him. “So I became a part of Beats. No one knew. I was just an equity shareholder. My role was to think, brainstorm, and anticipate.”
His early stake in Beats proved instrumental, culminating in substantial financial gains when Apple acquired the company in 2014 for $3 billion, Billboard reported.
While the exact percentage of his share remains undisclosed and he opts not to reveal his portion, even with a conservative estimate of just 1 percent — a minimum approximation — the musician, producer, futurist, and visionary should have received a $30 million payout, Billboard estimated in 2014.
“You don’t always have to be the face — you just want to contribute, whether visibly or behind the scenes. Actually, being behind the scenes is key.” he said
Will.i.am has gained recognition for his savvy investments. Besides his initial stake in Beats, which garnered millions after Apple’s acquisition in 2014, the Grammy winner has heavily invested in AI technology. Will.i.am, the multifaceted artist renowned for his role in the Black Eyed Peas and his prowess as a producer, has amassed substantial wealth over the years. As of 2023, Will.i.am has an estimated net worth of $70 million, according to Celebrity Net Worth.
However, one investment the musician said he regrets passing on is AirBnB.
“I missed Airbnb. There was a chance to invest — this was before they launched,” he admitted during an appearance on the “High Performance” podcast last year. “If you’re anchored in your perception, that’s healthy. Sometimes that could cripple you. In this case, it crippled my ability to see the potential.”
