Three of the seven-member BTS K-pop group sold shares in their management company to pocket $8.4 million, ahead of sold-out concerts in Los Angeles and their win for the artist of the year at the American Music Awards.
The members — Jin, J-Hope, and RM — unloaded a combined 31,986 shares in Hybe Co., formerly known as Big Hit, between Oct. 13 and Nov. 9, according to a regulatory filing. Stock of the Seoul-based firm hit a record high on Nov. 16, more than doubling from its initial public offering in October 2020.
Before the IPO, Bang Si-Hyuk, Hybe’s founder and the brains behind BTS, gave a total of 478,695 shares, or a 1.41% stake in the company, to the group, which split up the largess equally. The shares are now worth about $165 million.