BTS label’s IPO another big hit for K-pop boy band
The hugely successful stock market debut has made Big Hit Founder and CEO Bang Si Hyuk the richest stockholder in the South Korean entertainment industry. He has now surpassed the wealth of the heads of South Korea’s Big 3 music labels: SM Entertainment, JYP Entertainment, and YG Entertainment.
Dynamite stock market debut
The Big Hit big boss has a 34.74% stake, or 2,377,337 shares, in the company. His shares now have an estimated value of 3.193 trillion KRW (US$2.8B).
Bang Si Hyuk has become the richest stockholder in the entertainment industry, surpassing J.Y. Park, the founder of JYP Entertainment (213.9 billion KRW / 186 million USD), Yang Hyun Suk, the founder of YG Entertainment (143.7 billion KRW / 125 million USD), and Lee Soo Man, the founder of SM Entertainment (139.8 billion KRW / 122 million USD).
The seven BTS members, who received 68,385 shares each from Bang Si Hyuk, also tied for the eighth richest celebrity stockholders after Han Sung Ho, the founder of FNC Entertainment (19.7 billion KRW / 17.2 million USD), who is currently seventh. The BTS member’s stock holdings are worth 17.6 Billion KRW (15.3 Million USD) each.
BTS is the popular seven-member K-pop boy band composed of RM, Jin, Suga, J-Hope, Jimin, V, and Jungkook.
This week, BTS made history again. They are the first K-pop act to get the top two spots on the Billboard Hot 100. They debuted this week at No. 1 for “Savage Love,” with Jawsh 685 and Jason Derulo. Meanwhile “Dynamite”, with which they previously made history as the first K-pop act to debut at No. 1 on the Billboard Hot 100, is at No. 2.
BTS is only the fifth duo or group in history to get the top two spots in the same week. They join The Beatles, Bee Gees, Outkast, and The Black Eyed Peas in this elite company.
They also gave a stunning performance of “Dynamite” at the Billboard Music Awards. The group also won the Top Social Artist award at the BBMAs for the fourth consecutive year.