ACH can be a credit or a debit and interacts with a checking or savings account. It is an inexpensive mechanism for moving funds between financial institutions. In low volume it costs the originating bank $0.035 per transaction, in high volume (>1k per file) the cost is $0.025 per transaction.
At the time, we calculated Dr. Dre's net worth to be $550 million. With a net worth of $500 million, Dre was the third richest rapper on the planet, behind Jay-Z at $560 and Diddy at $700 million. Here's how we came up with $500 million two months ago: Of that $500 million, $200 million was Dre's non-beats money.
Apple buys Dr Dre's Beats for $3bn as company returns to music industry. Long-awaited deal is the largest in Apple's history, and has analysts speculating on company's future in music streaming. Dr Dre and Jimmy Iovine will join Apple as part of the acquisition deal. Photograph: Adam Hunger/Reuters.