BTS become multi-millionaires

All seven members of BTS have become multi-millionaires after their label Big Hit Entertainment started an IPO, Bloomberg reports. The K-Pop label issued its shares at 135,000 won, or $115 apiece, raising 962.55 million won, or $822 million, and giving Big Hit a market valuation of 4.8 trillion won, or $4.1 billion. Big Hit boss Bang Si-hyuk, who owns 43% of the management label, has become a billionaire. He gave the seven members of BTS, all in their early- to mid-20s, more than 68,000 shares each — that values their stakes at about $8 million apiece. The public offering values Big Hit at $4 billion. BTS fans in South Korea are hoping to buy at least one share in the management label, CNBC reports.