Step 1 : Introduction to the question "What rapper and producer founded the headphone company Beats Electronics?"
Beats Electronics LLC (also known as Beats by Dre) is a division of Apple Inc. that produces audio products. The company was founded by music producer and rapper Dr. Dre and Interscope Records co-founder Jimmy Iovine. In 2011, the Beats' market share was 64% in the U.S. for headphones priced higher than $100. On August 1, 2014, Apple Inc. acquired Beats for $3 billion in a cash and stock deal, the largest acquisition in Apple's history. The deal made Dr. Dre the "richest man in hip hop", surpassing P. Diddy.