October 28, 2021

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Bang Si-Hyuk, Founder Of BTS’ Label, Helps make His Debut On Forbes Korea’s Richest List 2021

2 min read

Just like the pop superstar team that he supported considering that the starting, Bang Si-hyuk can make his debut on Forbes Korea’s 50 Richest People list at number 16. The 48-calendar year-previous Bang is the founder and CEO of Hybe Company (formerly Large Strike Enjoyment), the label of the pop juggernauts BTS. He’s also an honouree of Tatler’s Asia’s Most Influential: Society Listing 2021.

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Bang’s debut on the richest checklist is partly thanks to the substantially-awaited IPO of the organization in Seoul very last calendar year which generated a great deal of excitement as it pulled off South Korea’s major stock sector listing in 3 years. This built Bang a billionaire and the septet millionaires, every single getting shares of their have in the firm.

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See also: Billboard Music Awards 2021: BTS Achieves 4-Award Sweep

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But Bang’s prosperity continued to soar after buying Scooter Braun’s Ithaca Holdings—which represents Ariana Grande and Justin Bieber—for US$1.05 billion to extend its footprint overseas. Bang’s web value is now valued at US$2.7 billion. Whilst Hybe is now South Korea’s most valuable entertainment businesses, it wasn’t always the situation. In reality, the company was on the verge of bankruptcy in 2007 with only four staff.

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Bang who previously worked as a composer for JYP Amusement, 1 of the country’s “Major 3” audio organizations, established the corporation in 2005 and debuted BTS in 2013, which was then regarded as an underdog group coming from a “modest firm” in the K-pop scene.

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Even with the worries, Bang’s eyesight as a marketer and producer and continuous believe in for the group blended with the septet’s passion for songs, talent, personalities and songs that communicate to their supporters among several other components defeat out the odds—BTS is the largest team right now. They recently just created historical past all over again with their latest summer hit, Butter, debuting at range a person on the Billboard Scorching 100 chart, generating them the 1st group in history to debut a few tracks on the charts.

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See also: Asia’s Richest 2021: The Major 10 In The Forbes World’s Billionaires List

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Bang’s net well worth and the company’s value easily triumphs in excess of the first “Big 3” labels, JYP Leisure, SM Enjoyment and YG Entertainment and developed his own empire from the ground up. In spite of the pandemic, Hybe recorded a internet cash flow of US$77.6 million in 2020, which was a 19.1 per cent increase as opposed to their earlier year’s earnings.

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Hybe carries on to expand, making a offer to merge the neighborhood platform services of Hybe and Naver, South Korea’s major research motor web-site and teaming up with Universal Tunes Group in the US to start a new boy group by means of a world audition. It was noted that Warner Bros. is also making ready to commit in Hybe.

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See also: BTS Declared As Louis Vuitton’s New World Ambassadors

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