As Big Hit Entertainment (hereinafter Big Hit) closed trading at nearly twice the initial public offering price on the first day of its listing on October 15th KST, Bang Si Hyuk ranks as the eighth richest stockholder in Korea.
Big Hit closed at 258,000 KRW (225 USD), down 4.44 % from its opening price of 270,000 KRW (235 USD).
As a result, the value of Bang Si Hyuk's 12,377,337 Big Hit shares, which is a 34.74% stake, was estimated at 3.193 trillion KRW (2.8 Billion USD).
Bang Si Hyuk has become the richest stockholder in the entertainment industry, surpassing J.Y. Park, the founder of JYP Entertainment (213.9 billion KRW / 186 million USD), Yang Hyun Suk, the founder of YG Entertainment (143.7 billion KRW / 125 million USD), and Lee Soo Man, the founder of SM Entertainment (139.8 billion KRW / 122 million USD).
The seven BTS members, who received 68,385 shares each from Bang Si Hyuk, also tied for the eighth richest celebrity stockholders after Han Sung Ho, the founder of FNC Entertainment (19.7 billion KRW / 17.2 million USD), who is currently seventh. The BTS member's stock holdings are worth 17.6 Billion KRW (15.3 Million USD) each.
Big Hit executives and employees who received stock purchase options also gained tens of billions of KRW in valuation gains. Yoon Seok Joon, the CEO of Big Hit, can exercise his stock options and buy 120,000 shares of Big Hit at 1,630 KRW (1.42) per share or just 1/127th of the IPO price. This means he can purchase 120,000 shares of Big Hit at 195.6 Million KRW (170,704 USD), and those shares are worth 30.96 Billion KRW (27 million USD). Additionally, it was revealed that Big Hit's 313 employees own a combined total of 1,441,691 shares of Big Hit, which is an average stock holdings of 560 million KRW (488,710 USD) per employee.