Forbes said that Bang Si-hyuk, the founder and chairman of HYBE, a well-known Korean music label and talent agency, has a net worth of $1.8 billion as of May 30, 2024.
Bang Si-hyuk, better known as Bang PD, became the first K-pop business millionaire after making HYBE an IPO as part of a plan to grow the business.
Net Worth of Bang Si-Hyuk in 2024
From South Korea, Bang Si-hyuk runs a record company and writes music, lyrics, and music videos. Celebrity Net Worth says that Bang Si-hyuk is worth $3 billion. Bang Si-Hyuk helped start the entertainment company Hybe Corporation and its subsidiary, Big Hit Music.
He is one of the fifty richest people in South Korea and the only entertainment business billionaire in that country. Bang has worked with groups like 2 AM, Teen Top, GFriend, and the worldwide hit BTS to make records.
Bang Si-hyuk’s Career
The music business hired Bang Si-hyuk while he was still in college. He won the Yoo Jae- a Music Contest in 1994, which was his first time writing music.
His work as a songwriter and producer got off the ground with this win. He met Park Jin-young in 1997, and the two of them wrote songs together.
Bang later worked as a composer, arranger, and producer for JYP Entertainment, where he collaborated with well-known acts like G.O.d, Im Chang-Jung, Park Ji-Yoon, Rain, Wonder Girls, 2 AM, Teen Top, and Baek Ji-young.
Bang started Big Hit Entertainment in 2005. It grew to be one of the most famous entertainment companies in South Korea.
He signed RM when he was 15 years old. RM went on to lead the boy band BTS. Bang helped write six songs for BTS’s 2016 album Wings, which helped the group become more famous.
In 2016, he got the Best Producer Award at the Mnet Asian Music Awards and the Songwriter Award at the Melon Music Awards for his work in the music business.
Bang was named one of Variety’s International Music Leaders in 2018 because of how well BTS had done.
Bang Si- hyuk’s Businesses
Big Hit Entertainment, which changed its name to Hybe Corporation in 2021, was started by Bang Si-hyuk and he used to be its CEO.
Hybe Corporation is an entertainment company in South Korea that works with many acts, such as BTS, TXT, SEVENTEEN, ENHYPEN, LE SSERAFIM, and NewJeans. The business also runs several branches, such as Big Hit Music, Big Hit Labels, and Weverse Company.
Bang Si-hyuk Achievements
Bang Si- hyuk’s most important accomplishments are starting Big Hit Entertainment and Hybe Corporation, which are now big players in the South Korean entertainment business. He was also very important to the growth of BTS, which is now one of the biggest boy bands in the world.
Many people have recognized Bang’s contributions to the music business, and he has earned many awards and honors, such as the Best Producer Award, the Songwriter Award, and the Variety International Music Leader Award.
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Bang Si-hyuk’s Assets, Cars, houses
Here are the key details about Bang Si-hyuk’s assets:
Real Estate
- Bang Si-hyuk, the founder and chairman of HYBE, purchased a $26.4 million mansion in Los Angeles’ Bel Air neighborhood in April 2023 through a subsidiary company called BEL AIR STRADELLA, LLC which he fully owns. The mansion was previously owned by comedian Trevor Noah.
- The purchase of this mansion was not initially disclosed in HYBE’s state of affairs report, leading to an investigation by the Korea Fair Trade Commission (KFTC) into HYBE for omitting or fabricating information in the report. HYBE later corrected the report to include the mansion purchase.
Stocks
- As of December 2023, Bang Si-hyuk owns 13,151,394 shares in HYBE, which is the largest stake in a Korean cultural and content-related stock asset.
- His total stock valuation in HYBE is estimated at 3.774 trillion won.
Salary
- For 2024, Bang Si-hyuk declared he will receive a salary of just 1 won (less than $1) as HYBE’s chairman, down from 50 million won in 2023.
- This is part of HYBE’s “Pay for Performance” compensation philosophy to promote responsible leadership.
- However, Bang will still receive a bonus of 980 million won under HYBE’s short-term incentive system.
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