
K-Pop band BTS became multi-millionaires minutes after their record labels hit IPO doubled on its stock market debut
South Korean boy band, BTS.
Jo Soo-jung/Newsis via AP
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BTS, the seven-member Korean boy band, has raked in a fortune after its record label’s hit IPO doubled upon its stock market debut in Seoul.
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Big Hit Entertainment’s shares soared as much as 160% from their IPO price on Thursday, pushing the company’s market value to 10 trillion won ($8.5 billion).
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The band members were already millionaires after Big Hit’s CEO granted each one an $8 million stake in August.
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The CEO himself, Bang Si-Hyuk, is worth about $1.4 billion.
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