Justin Bieber and Ariana Grande earn “about $ 10 million each” from their manager Scooter Braun’s latest business move.
The scooter company Ithaca Holdings was acquired by HYBE, the agency behind the K-pop BTS phenomenon.
And now $ 50 million of the purchase price has been shared between some of the Scooter’s long-term employees and customers, according to Variety.
Joined: Justin Bieber and Ariana Grande earn nearly $ 10 million each in their latest Scooter Braun manager business move
These customers and employees have been involved in Scooter Braun projects since its launch in 2007.
Scooter himself receives 462,380 of the 863,209 new shares that were taken out as part of the transaction, each costing $ 186, according to the Korean regulatory request cited by Variety.
Ariana and Justin will receive shares worth $ 9,961,602 – or 53,557 shares.
It is also said that other scooter acts are doing well, including Demi Lovato who “received 5,355 shares with a monetary value of $ 996,030.”
New business: Scooter (pictured) Ithaca Holdings was acquired by HYBE, the agency behind the K-pop BTS phenomenon
It seems that J Balvin is doing much better than even Demi did, getting shares worth $ 3,984,678 – the heavy number being 21,423.
Meanwhile, it is said that Asher Roth and Carly Rae Jepsen receive only 535 shares each, but this reaches a value of $ 99,510.
HYBE announced its $ 1.05 billion deal Friday to buy Scooter.
What a pair: the customers and employees involved have been involved in the Scooter Braun projects since its launch in 2007; Scooter and Justin were photographed last January
Wonderful: Ariana and Justin each receive $ 9,961,602 – exactly 53,557; Ariana and Scooter are photographed in early 2019
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 US unit will pay a total of $ 1.05 billion to bondholders and others for the merger.
The South Korean company will “acquire, through its wholly owned subsidiary HYBE America, a 100% stake in Ithaca Holdings,” a statement said.
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-term Scooter acts are doing well, including Demi Lovato, who received 5,355 shares with a monetary value of $ 996,030
“This is an opportunity for us to make history and further innovate the music industry,” Braun said of the merger.
BTS have risen to superstar worldwide since their debut in 2013, and their single “Dynamite” entered the Billboard Hot 100 at number one last year, becoming the first South Korean act to occupy the US charts.
In October, HYBE debuted on the multi-billion dollar stock market.
The merger was to “accelerate entry into the global market,” the company said in a regulatory document.
Sensation: HYBE announced its $ 1.05 billion deal Friday to buy Scooter; The K-pop wunderkinds BTS that HYBE represents are illustrated