Boy band BTS (Yonhap)
Stocks gifted to members of boy band BTS have snowballed to a combined value of nearly 150 billion won ($132.5 million) over the course of about 10 months.
The gift -- 478,695 common shares of BTS’ management agency Hybe that were evenly distributed to the seven bandmates -- is now valued on the domestic stock market at 149.8 billion won, as Hybe shares notched all-time high marks five straight trading days through June 18.
This means RM, Jin, Suga, J-hope, V, Jimin and Jungkook have each accumulated wealth worth 21.4 billion won in stocks. Their 68,385 shares represent 0.18 percent of voting rights in the company for each of them.
Among those under the age of 30 in Korea, the seven ranked 43rd in a list of the richest people by stocks owned, according to an estimate by market tracker FnGuide.
Their valuation jumped 2.3 times from Hybe’s initial public offering in October 2020.
Hybe stocks’ closing price came to 313,000 won apiece on June 18, up 5.4 percent on a single trading day. Hybe’s market cap extended to 11.1 trillion won, becoming the 38th-largest stock trading on the Korea Exchange’s main board Kospi. The shares were on a winning streak for seven consecutive trading days, with the price rising nearly 20 percent during the period.
The latest upsurge in stock price comes as BTS’ new single “Butter,” released on May 21, took the top spot of Billboard’s Hot 100 Chart for three consecutive weeks.
Hybe founder and CEO Bang Si-hyuk gave the stocks to the prized boy band a month before the company went public. Hybe, then known as Big Hit Entertainment, said the gift was a token of the long-term partnership between the company and the artists.
Bang owns 13.1 million common shares, or a 34.74 percent stake of Hybe, the valuation of which exceeded 4.1 trillion won.
By Son Ji-hyoung (firstname.lastname@example.org)