BTS, Justin Bieber, Ariana Grande Raise K-Pop Mogul Wealth To $3.2 Billion

Bang Si-hyuk, founder of the agency behind K-pop sensation BTS, has more than doubled his fortune in a matter of months as his company’s stock soared.

Bang is worth about $3.2 billion, according toThe Bloomberg Billionaires Index, after Hybe Co., formerly known as Big Hit Entertainment, is up 131% since going public in South Korea in October. When the initial public offering was valued, his net worth was around $1.5 billion.

This is a testament to the popularity of BTS, the band with some of the best-selling K-pop albums of all time. This might also signal optimism about Hybe’s global ambitions afterwardannounced in April the acquisition of the company behind worldwide stars Justin Bieber and Ariana Grande.

“Hybe has managed to bring another entertainment player to its side,” said Sungho Park, an analyst at Seoul-based Yuanta Securities Co. “That has helped gain confidence from investors that the business will do well.”

The company does not comment on Bang’s net worth, other than showing publicly available information about the number of shares.

BTS agency soars as its global ambition grows

Bang, who owns 34% of Hybe and is known as the “Hitman” in South Korea, is stepping down as CEO to focus on his role as chairman of the board, the company said this month. He will also continue to oversee music production.

hybesaid on April 2 it paid $1.05 billion to Ithaca Holdings, the US media group behind Bieber and Grande’s careers. Scooter Braun, who led Ithaca, became Hybe America’s co-CEO following the deal.

Company filings show Braun holds a 1% stake in Hybe, which is valued at $124.8 million. The seven BTS members, all in their 20s, each have an equal shareholding of $18.5 million. Bieber and Grande each hold shares worth $14.5 million.

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