Late last night, news of the acquisition of Beats Electronics from Apple was in the works. The world's most valuable brand bought the company for $3.2 billion USD, according to reports. Those familiar with the Beats Electronics product are probably well aware that West Coast hip-hop icon Dr. Dre is the company's figurehead.

Soon after the word got out, Dr. Dre himself alongside friend and actor Tyrese Gibson released a personal video celebrating the move. In the video, available below, Dre proudly boasts that he's, "The first billionaire in hip-hop, right here from the motherfuckin’ West Coast."

Forbes, who ranked Dre as the second wealthiest rapper alive prior to the move, chimed in on the potential acquisition. Dre owns between 20 and 25 percent of Beats Electronics. Judging from the reported $3.2 billion figure, he stands to earn roughly $800 million from the move.