Spotify is owned by the big companies now

At the end of 2019, Spotify was worth $27.57 billion, with 65% of it being owned by just six parties: the firm’s co-founders, Daniel Elk and Martin Lorentzon have 30.6% between them, Tencent Holdings Ltd. has 9.1%, and a run of three asset-management specialists holding 25% - Gifford 11.8%, Morgan Stanley 7.3%, and T.Rowe Price Associates 6.2%. Sony and Universal continue to jointly own between six percent and seven percent of Spotify. Rolling Stone reports on what this means.