On 6th April 2021 FORBES released their “World Billionaires’ List” which included the “Ten New Billionaires from IPOs in 2021” The annual report had been completed on 18th March 2020. FORBES reported that the number of billionaires on Forbes’ 35th annual list of the world’s wealthiest exploded to an unprecedented 2,755-660 more than a year ago. Of those, a record high 493 were new to the list roughly one every 17 hours, including 210 from China and Hong Kong. Another 250 who’d fallen off in the past came roaring back. A staggering 86% are richer than a year ago.
Forbes’ 2021 list of the World’s Billionaires features 328 women, up more than 36% from the previous year, including a new world’s youngest self made billionaire.
Jeff Bezos is the world’s richest for the fourth year running, worth $177 billion, while Elon Musk rocketed into the number two spot with $151 billion, as Tesla and Amazon shares surged. Altogether these billionaires are worth $13.1 trillion, up from $8 trillion in 2020. The U.S. still has the most, with 724, followed by China (including Hong Kong and Macao) with 698. “We used stock prices and exchange rates from March 5 to calculate net worths,” the report stated.
In terms of IPOs, FORBES stated that over the past year, 1,489 public offerings raised $314 billion globally, up from 1,239 IPOs and $234 billion in the previous year.
Bang Si-hyuk is among the 10 of the most notable moguls who joined Forbes’ World’s Billionaires list this year 2020 thanks to a traditional IPO; net worths are as of March 5, 2021. Bang Si-hyuk takes #7 of the top 10. #1 on the list is Canadian Pan Dong, CEO of Blue Moon Group Holdings in China, she is the richest female newcomer on the list worth $8.3 billion
#7| Bang Shi-hyuk
NET WORTH: $2.3 BILLION
CITIZENSHIP: SOUTH KOREA
SOURCE OF WEALTH: ENTERTAINMENT
Bang is the founder of music label and agency Big Hit Entertainment, which represents the wildly popular K-pop band BTS. He took the company public on the Korea Exchange last October. Just two months before Big Hit’s IPO, BTS—also known as “The Beatles of the 21st Century”—had become the first Korean band to top the Billboard Hot 100 with “Dynamite”, their first song entirely in English. Source
Hybe Corporation is a South Korean company established in 2005 by Bang Si-hyuk as Big Hit Entertainment Co., Ltd. In the second week of March 2021, Big Hit announced its rebranding into an entertainment lifestyle platform company under the name Hybe Corporation. The company has multiple subsidiaries, including Big Hit Music, Source Music, Pledis Entertainment, Belift Lab, Hybe Labels Japan and KOZ Entertainment, collectively known as Hybe Labels.
Back in September 2020 Big Hit Entertainment revealed tha it had filed a securities registration with the Financial Services Commision of Korea with the hopes of going public on the Korea Composite Stick Price Index (KOSPI) in October 2020, which it did.
“The K-pop label is issuing its shares at 135,000 won ($115) each, Big Hit said in a filing on Monday, raising 962.55 billion won ($822 million) and valuing the company at 4.8 trillion won ($4.1 billion). That makes the deal South Korea’s largest stock offering since July 2017, according to data compiled by Dealogic.” CNN
On March 19, the company released an online presentation detailing its organizational restructuring, and stated that the name “Big Hit Entertainment” (as related to its music operations) would become Big Hit Music under Hybe’s new Labels division—the rename was subject to a shareholders meeting held on March 30.
The presentation also provided a look into the design of Hybe’s newly completed headquarters located in the Yongsan Trade Center in Yongsan District—the company officially relocated to the building on March 22. The rebrand went into effect on March 31.
On April 2, Hybe’s 100% stake acquisition of Scooter Braun’s Ithaca Holdings and all its properties, including SB Projects (which manages artists like Justin Bieber and Ariana Grande) and Big Machine Label Group, through its subsidiary Hybe America, was announced.
“The Forbes World’s Billionaires list is a snapshot of wealth using stock prices and exchange rates from March 5, 2021. Some people become richer or poorer within days of publication. We list individuals rather than multigenerational families who share fortunes, though we include wealth belonging to a billionaire’s spouse and children if that person is the founder of the fortune.” Source
“In some cases we list siblings or couples together if the ownership breakdown among them isn’t clear, but here an estimated net worth of $1 billion per person is needed to make the cut. We value a variety of assets, including private companies, real estate, art and more. We don’t pretend to know each billionaire’s private balance sheet (though some provide it). When documentation isn’t supplied or available, we discount fortunes.” Source