Justin Bieber and Ariana Grande earn “about $ 10 million each” from their manager Scooter Braun’s latest business move.
The company Ithaca Holdings of Scooter has been acquired by HYBE, the agency of the K-pop phenomenon BTS.
And now, $ 50 million from the purchase price has been distributed among some of Scooter’s longtime employees and customers, according to Variety.
Side by side: Justin Bieber and Ariana Grande earn nearly $ 10 million each with the latest business move from their manager Scooter Braun
The customers and employees in question have been involved with Scooter Braun Projects since its launch in 2007.
Scooter, himself, gets 462,380 of the 863,209 new shares that were issued as part of the deal, at a cost of $ 186, according to the Korean regulatory filing cited by Variety.
According to reports, Ariana and Justin receive shares worth $ 9,961,602, or precisely 53,557 shares.
Other Scooter acts are said to be working well, including Demi Lovato, who “obtained 5,355 shares with a monetary value of $ 996,030.”
New deal: the company Ithaca Holdings (pictured) of Scooters has been acquired by HYBE, the agency of the K-pop phenomenon BTS
According to reports, J Balvin is making a significantly better result than even Demi obtained shares worth $ 3,984,678, the number difficult to be 21,423.
Meanwhile, Asher Roth and Carly Rae Jepsen are said to only receive 535 shares each, but they still come in at $ 99,510.
HYBE on Friday announced its $ 1.05 billion deal to buy the Scooter firm.
What a couple: the clients and employees in question are the ones who have been involved with Scooter Braun Projects since its launch in 2007; Scooter and Justin appear in the picture last January
Fantastic: Ariana and Justin receive shares worth $ 9,961,602, which is precisely 53,557 shares; In early 2019, Ariana and Scooter appear
The Korean company, formerly known as Big Hit Entertainment, is investing 1.07 trillion won ($ 950 million) in its US unit to acquire Ithaca Holdings.
In a separate regulatory filing in Seoul, the company said its U.S. unit will pay a total of $ 1.05 billion to bondholders and others for the merger.
The South Korean firm “will acquire through its wholly owned subsidiary HYBE America, a 100% stake in Ithaca Holdings,” it said in a statement.
Braun will join HYBE’s board of directors and artists from both entities, including BTS, Bieber and Grande, will participate in the South Korean company’s capital increase, he added.
Demi with Scooter: Other long-lived Scooter acts also work well, including Demi Lovato, who acquired 5,355 shares worth $ 996,030
“This is an opportunity to make history and innovate even more in the music industry,” Braun said of the merger.
BTS has risen to world superstar since its debut in 2013, and their single “Dynamite” entered the Billboard Hot 100 at number one last year, making them the first South Korean act to headline. the American classification.
In October, HYBE made a multi-million dollar stock market debut.
The merger was to “accelerate its entry into the global market,” the company said in one of the regulatory filings.
Sensation: HYBE on Friday announced its $ 1.05 billion deal to buy the Scooter firm; The image shows the KTS-Wunderkinds BTS represented by HYBE