BTS Band Members Make Millions as Big Hit Shares Jump in IPO
- Big Hit market cap bigger than three key K-pop stocks combined
- Founder worth $2.8 billion, with BTS members multimillionaires
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K-pop agency Big Hit Entertainment Co. soared on its debut trading Thursday, boosting the fortunes of its billionaire founder and seven multimillionaire members of the world’s best-known boy band, BTS.
The management company, which makes almost all of its revenue from the pop sensation, opened at 270,000 won ($236) in Seoul from its initial public offering price of 135,000 won per share, and rose as much as 30%, the upper daily limit. That pushed Big Hit’s market value to 8.7 trillion won, more than the other three major K-pop agencies combined.