After three weeks of speculation, Dr. Dre is believed to have officially become Hip-Hop’s first billionaire.

Today (May 28), USA Today confirmed the Beats Electronics (previously Beats By Dre) buyout by Apple for a reported $3 billion. The latter company’s CEO, Tim Cook declared, “This [deal] is about music and its importance to society and to Apple. We’ve found kindred spirits in Jimmy [Iovine] and [Dr.] Dre and we’re going to advance what they’ve done to a whole different level.”

Per reports, Dre will move his executive position within the company carrying his name to an Apple post. Cook claimed that Dre, a native of Compton, will now be spending a large part of his time in Silicon Valley, at Apple’s headquarters. With the sale, Interscope’s Chairman Jimmy Iovine will reportedly resign from a post he’s held for over 25 years. While at Interscope, Iovine worked closely with artists such as Tupac Shakur, 50 Cent, Eminem, No Doubt, Lady Gaga, Akon, and of course, Dr. Dre.

Previously, Dre has held posts at Death Row Records (President 1991-1996), as well as his solely-owned Aftermath Entertainment imprint (1996-current). In addition to two studio solo albums, Dre has directed films (The Wash, Murder Was The Case), music videos, and produced albums for the likes of Snoop Dogg, Eminem, Michel’le, The D.O.C., Eazy-E, Above The Law, and his own groups N.W.A. and World Class Wreckin’ Crew.

All of this news begs the question… are we now even further from Detox?

Related: “THE FORBES LIST JUST CHANGED.” Dr. Dre Speaks on Becoming the First Billionaire in Hip-Hop (Video)