Daniel Ek and Martin Lorentzon could have netted a big sum from their shares in Spotify.
Last May, Sony cashed out 50% of its Spotify shares, incomes a cool $760 million. Less than per week later, Warner Music Group revealed it had dumped 75% of its shares within the streaming music service, netting $400 million. Warner later offered all of its shares in August, incomes barely over $100 million extra. Finally, Merlin cashed out 100% of its shares in Spotify, pledging to move the sale by to its members.
They’re not the one ones. According to a brand new report, Spotify founders Daniel Ek and Martin Lorentzon have offered important shares within the firm.
So, how a lot are your shares in Spotify value?
A Securities and Exchange Commission (SEC) submitting obtained by Di Digital reveals Ek and Lorentzon have offered their shares for over kr 1 billion ($110 million) every in latest months. Daniel Ek, Spotify’s CEO, obtained essentially the most from the latest gross sales, reportedly incomes kr 1.2 billion ($132 million).
For the interval of July to September 2018, Ek offered 336,213 shares for kr 560 million ($61.6 million). Di Digital states he plans to promote extra shares for kr 600 million ($66.1 million).
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Lorentzon, in the meantime, offered 317,800 shares between July and September for kr 530 million ($58.three million). He additionally said his intention to promote extra shares for kr 288 million ($31.7 million).
Speaking with the Swedish publication, Sofie Grant, a Spotify consultant, confirmed the sale.
Ek and Lorentzon refused to touch upon the information.
Despite the sizable gross sales, Ek and Lorentzon clearly don’t wish to lose management of the corporate.
The firm reportedly had a market valuation of $31.5 billion at shut on Thursday. Both nonetheless personal a big proportion in Spotify.