The Bangtan Boys, who we know as K-pop sensation BTS, have been in the news for all sorts of records and milestones lately. Their music videos are crossing 450 million views, becoming the fastest Korean group video to reach that number.
J-Hope and the other BTS guys are now gearing up for their next big leap: the release of their upcoming and long-awaited album ‘BE’. Meanwhile, the band members have been enriched by around $ 7.7 million. Let’s rewind on this and see how it happened.
The wealth of Big Hit Entertainment and BTS
The record label behind the boy band (Big Hit Entertainment) went public with its IPO this month for 135,000 won, in line with the label’s valuation of more than $ 4 billion. A complete madness!
The immediate result of these numbers was that the CEO of Big Hit Entertainment, Bang Si-hyuk, entered the clan of billionaires. According to Bloomberg, Si-hyuk saw his net worth skyrocket to $ 1.4 billion in September 2020, making him the fifth-richest shareholder in all of South Korea.
After all, Big Hit’s IPO was South Korea’s largest listing in recent history. At the same time, each member of BTS walked away with $ 7.7 million, owning more than 6.7% of the total shares.
Giving away 68,385 shares to each member of the band made business sense, as BTS generated about 97% of the company’s sales last year. BTS also generated more than 87% of the company’s revenue in the first half of 2020.
As we already mentioned in The Truth News above, Hobi is the richest member of BTS, but seeing this new income from Big Hit Entertainment a new question arises: Is J-Hope the richest K-pop star of all time? ?
Is J-Hope the richest in the K-pop industry?
That being said, J-Hope at $ 16 million is not the richest K-pop star. He has been overtaken by JYJ member Kim Jae-joong, Psy, G-Dragon, and others. Jaejoong might be the richest K-pop star out there, as various reports claim that his net worth is around $ 100 million.
It doesn’t seem impossible as he has been active in the industry for a long time, including his works on Korean dramas like Spy, Dr. Jin and Manhole: Feel So Good. Psy follows closely on the list.
He took the internet by storm when his hit song “Gangnam Style” officially broke Internet and YouTube view records. According to a 2014 BBC report, the music video for his viral song was viewed more than 2 billion times.
For the first time, this feat forced YouTube to update its maximum viewing limit to 9,223,372,036,854,775,808, or more than nine trillion. PSY reportedly made a net worth of $ 60 million with that iconic song.
Following him closely is G-Dragon, a member of BIGBANG. It has a fashion line, major collaborations with the likes of Justin Bieber and Missy Elliott, and endorsement deals with giant corporations. All of that has contributed to a reported net worth of between $ 30 and $ 40 million.
J-Hope is also surpassed by Jung Ji-hoon, known to the world as Rain. The New York Times called him the Korean Justin Timberlake or the Korean Usher, indicating his rise to prominence. His career was steadily climbing milestones, leading to a reported net worth of $ 20 million.