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Photo: Raymond Hall / GC Images
Your seven favorite K-pop stars just got seven figures each. The boys of BTS became millionaires today with an impressive 135,000 won initial public offering for Big Hit Entertainment label. That’s roughly $ 115 a share, the biggest debut in the South Korean market in more than three years, which values the label at more than $ 4 billion. Each BTS member received 68,385 shares from Big Hit CEO and producer Bang Si-hyuk in August, putting $ 7.9 million in their pockets with Big Hit’s debut on September 28. (Meanwhile, Bang, who owns nearly 43 percent of Big Hit, easily becomes a billionaire off the list.) It’s a win for the band members, given K-pop’s history of taking advantage of its artists. It also comes when the guys are on top of the world, announcing a new album. To be over the weekend after landing his first number one hit for the lead single “Dynamite.” Forget broadcasts and merchandising – all real ARMY members will buy those Big Hit shares when they go public on October 15.
