Bang Si-hyuk is now among the richest music executives in the world
The South Korean producer has an estimated fortune of $3 billion.
He is the chairman of Hybe — home of BTS, SEVENTEEN and TXT, among others
BTS mastermind Bang Si-hyuk has now become a multi-billionaire, joining the top ranks of the richest music executives in the world.
Billboard just unveiled its list of “Top Money Makers” in the music industry, which included the highest-paid executives and stockholders managing publicly traded companies. Per the report, the 51-year-old Hybe chairman ranked No. 3 on the list with an estimated stock holding of KRW 3.4389 trillion ($2.54 billion).
Si-hyuk — professionally known as “Hitman Bang” — was only bested by Spotify co-founders Daniel Ek and Martin Lorentzon. Billboard also noted that the music executive’s stock holdings saw a significant increase from last year. A year before, his stocks were only at KRW 2.316 trillion ($1.7 billion).
Other well-known music executives in K-Pop who made it to the list include JYP Entertainment’s Park Jin-young and YG Entertainment’s Yang Hyun-suk, who ranked No. 5 and No. 8, respectively.
Interestingly, his whopping stock holdings added to his multi-billion fortune. He currently has an estimated net worth of $3 billion, Celebrity Net Worth reported. International Business Times couldn’t independently verify this information. But Forbes reported that it was only at $2.2 billion.
Si-hyuk also made it to the top 20 of Forbes’ 50 richest individuals in South Korea, ranking No. 16 overall.
Following the success of Hybe — previously known as BigHit Entertainment — the music executive’s wealth grew enormously over the years. But it was in 2020 when he finally hit billionaire status after the company underwent the IPO or Initial Public Offering, making its shares available to the public.
In 2021, Hybe also merged with Scooter Braun’s Ithaca Holdings, acquiring shares amounting to about $1 billion.
Aside from producing music, Si-hyuk expanded Hybe’s business ventures, though it stepped down as CEO. He has since helped develop platforms such as Weverse — a famous fan interactive app — and acquired subsidiaries such as Pledis Entertainment and Source Music.
He has also been recognized as one of the top producers and songwriters in the K-Pop industry, winning several awards in South Korean music awards shows like Melon Music, MNET Asian Music Awards, Golden Disc Awards and Seoul Music Awards, among others.
K-Pop groups and artists currently signed to Hybe include BTS, SEVENTEEN, Tomorrow x Together (TXT), ENHYPEN, Baekho, Hwang Min Hyun, LE SSERAFIM, NewJeans and many more.
HYBE chairman Bang Si-Hyuk. instagram.com/hitmanb72
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