K-Pop billionaire behind BTS doubles wealth on adding Bieber

Bang Si-hyuk, the founder of the agency behind K-pop boy-band sensation BTS, has more than doubled his wealth in a matter of months as shares of his company surged.

Bang is worth about $3.2 billion, according to the Bloomberg Billionaires Index, after Hybe Co., formerly known as Big Hit Entertainment, rose 131% since going public in South Korea in October. When its initial public offering priced, his net worth was around $1.5 billion. It’s a testament to the popularity of BTS, the band with some of the best-selling K-pop albums of all time. It may also signal optimism about Hybe’s global ambitions after it announced in April the acquisition of the company behind worldwide stars Justin Bieber and Ariana Grande.