Over a decade ago, Bang Si Hyuk formed a boy band that not only changed the course of K-pop, but became one of the greatest musical groups of all time. That band was BTS, and in addition to the incredible popularity that the seven members have enjoyed over the years, they also helped Bang Si Hyuk become K-pop's first billionaire, based on net worth.
Today, Bang is hailed as one of the greatest record producers of all time and his company HYBE (formerly Big Hit Music) one of the most successful companies in the music industry. Thanks to Bang's long-term creative vision, K-Pop has become a cultural giant that has spread from its birthplace to every corner of the world.
In fact, it was his ability to spot talent that led him to discover a talented 15-year-old boy named Kim Namjun, who would later become known to the world as RM, the leader of BTS. Along with RM and the six other members of BTS – Suga, Jin, J-Hope, Jimin, Jungkook and V – Bang Kook changed the face of the music world, building a group that rivaled the British rock band The Beatles and a company that has grown from that success into one of South Korea's biggest conglomerates.
BTS founder Bang Si Hyuk's biography and net worth
K-pop group ENHYPEN and Bang Si Hyuk. (Image credit: Bang Si Hyuk/@hitmanb72/Instagram)
Born in Seoul on August 9, 1972, Bang found early success in K-pop: he was the lead composer for JYP Entertainment and has written music for acclaimed artists such as iconic South Korean singer and actor Jung Ji-hoon, better known as Rain.
Bang Sung-hyun's penchant for churning out one smash hit after another earned him the well-known nickname “Hitman.” Inspired by the moniker, he founded his own record production company, Big Hit Entertainment, in 2005. However, two years later, the company was on the brink of bankruptcy. It was around this time that Bang Sung-hyun met RM, and his company has been going strong ever since.
Bang has succeeded where many other K-pop music producers have not: his marketing strategies have enabled BTS (and K-pop in general) to rapidly grow beyond the borders of East Asian countries and rise to the top of the charts in Western countries.
His company, Big Hit Entertainment, rebranded to HYBE Corporation in March 2021. It is a holding company for music labels such as Big Hit Music, Belift Lab, Pledis Entertainment, KOZ Entertainment, and ADOR. Through these labels, HYBE manages K-pop artists such as BTS, TOMORROW X TOGETHER, ENHYPEN, LE SSERAFIM, SEVENTEEN, BOYNEXTDOOR, NewJeans, and soloist Lee Hyun.
What is Bang Si Hyuk's net worth?
Bang Si Hyuk welcomes BTS's Jin back from military service. (Image credit: Bang Si Hyuk/@hitmanb72/Instagram)
Bang Si-hyuk is HYBE's chairman and the company's largest single shareholder, owning approximately 31.5% of the company's shares.
According to Forbes, Bang Si Hyuk's net worth is $1.5 billion as of August 13, 2024. This is roughly equivalent to 2 trillion won. Although he remains the richest billionaire in the K-pop industry, his fortune has risen and fallen in a short period of time.
Bang became an instant billionaire shortly after HYBE went public in October 2020, debuting on Forbes' list of Korea's 50 Richest People of 2021. At the time, the initial public offering (IPO) was South Korea's largest in three years, according to Forbes. The IPO was oversubscribed 1,100 times, a testament to the confidence investors had in Bang and the K-pop industry.
At that moment, Bang was dubbed “K-Pop's first billionaire” – his net worth was estimated at $2.7 billion at the time.
The following year, in 2022, his net worth rose to $3.3 billion, with Forbes ranking him 12th among South Korea's 50 richest people. However, in June 2022, BTS announced that they would be going on hiatus due to the members' military service obligations, which undoubtedly affected HYBE and, in turn, Bang's net worth.
In Forbes' April 2024 list of South Korea's 50 richest people, Bang's net worth was reduced to $2.1 billion. However, this was actually an increase of more than $300 million compared to the previous year, highlighting the situation in 2023.
According to the April 2024 list, Bang is the 17th richest person in South Korea and the fourth richest person in the media and entertainment industry. Kwon Hyuk-bin, co-founder of South Korea's third-largest gaming company Smilegate, is the industry's richest man with a net worth of $3.5 billion. Following him are sisters Kim Jong-min and Jong-yeon, who own minority shares in the late Kim Jong-ju's online gaming giant Nexon. With a net worth of $2.9 billion, the sisters are among the world's youngest billionaires. Their mother Yoo Jung-hyun, who owns 14% of Nexon's shares, is third with a net worth of $2.3 billion.
Still, with BTS preparing for their comeback (a full group reunion is expected in June 2025), Bang Si Hyuk's net worth is likely to trend upwards. He will remain K-pop's biggest billionaire, and may even surpass the members of the Nexon Family by the end of 2025 if all goes according to the grand plan his prodigious brain has for HYBE and the K-pop artists under its label.
6th richest person in South Korea by stock holdings
Bang Si Hyuk and HYBE's female K-pop group LE SSERAFIM. (Image credit: Bang Si Hyuk/@hitmanb72/Instagram)
Bang Si-hyuk is ranked 17th on South Korea's richest list, but his stock holdings tell a better story for him. A May 2024 Korea Times report found that Bang was the sixth-richest head of South Korea's major conglomerates by stock holdings.
A survey by Korea CXO Research Institute reportedly put Bang's total stock holdings at 2.5 trillion won ($1.8 billion), more than those held by SK Group Chairman Choi Tae-won and LG Group Chairman Koo Kwang-mo.
Samsung Electronics Chairman Lee Jae-yong ranked first with shares worth about 15.9 trillion won ($11.8 billion).
Celltrion co-founder and chairman Suh Jung-jin, Kakao founder Kim Beom-soo, Hyundai Motor Group executive chairman Chung Eui-sung, and Amorepacific Group chairman Suh Kyung-bae also made the top five.
2024 bodes well for Bang Si Hyuk and HYBE
Inside the new HYBE office in Tokyo, Japan. (Image credit: Bang Si-Hyuk/@hitmanb72/Instagram) A view of the iconic Tokyo Tower from the office. (Image credit: Bang Si-Hyuk/@hitmanb72/Instagram) A conference room in the new HYBE office. (Image credit: Bang Si-Hyuk/@hitmanb72/Instagram)
The main reason Bang Si Hyuk will witness an increase in his net worth by April 2024 was HYBE's announcement in February. That month, the company revealed that it had become the first Korean entertainment company to surpass 2 trillion won (approximately $1.5 billion) in annual revenue. This was on the back of strong album and concert sales for K-pop artists through 2023.
According to HYBE's financial results, the company's net profit increased 288.8% year over year to $144.5 million. Operating profit increased 24.9% year over year to $229.1 million.
Along with TOMORROW X TOGETHER, NewJeans, and ENHYPEN, K-pop groups signed to the HYBE label sold just 22.2 million records in 2022, but 43.6 million by 2023.
It's been a really great year for HYBE. The International Federation of the Phonographic Industry (IFPI) named K-pop boy band SEVENTEEN the world's best-selling recording artist of 2023, second only to Taylor Swift. SEVENTEEN's 10th mini-album, “FML,” sold 6.4 million copies, making it the best-selling global album of 2023. Two other HYBE groups, TOMORROW X TOGETHER and NewJeans, also made it into the top 10.
As for 2024, HYBE seems poised to expand its foothold and strengthen its control over K-pop. On May 15, 2024, the Korea Fair Trade Commission (KFTC) designated HYBE as a “public company group,” technically defining it as a conglomerate. It is the first K-pop company to be so designated. The basis for the designation was that HYBE's total assets exceeded 5 trillion won (approximately $3.6 billion at the time).
However, the designation also means that HYBE and Bang will be subject to stricter rules for doing business in South Korea. In June 2024, the KFTC launched an investigation into HYBE for deficiencies in documentation related to mandatory annual reports. HYBE's headquarters in Yongsan-gu, central Seoul, was visited by KFTC investigators.
Regardless of the investigation, HYBE's second quarter financial information released on August 7, 2024 boosted investor confidence in the company. According to the information, the company posted revenue of 640.5 billion won (approximately US$465 million). This bright outlook caused the company's stock price to rise 5.89% from the previous day. However, two setbacks followed in quick succession.
The first case involved BTS member Suga, who was arrested for drunk driving near his home in Yongsan-gu, southern Seoul. He was fined and his license was reportedly suspended. The incident caused the company's stock price to fall, but Hy-Vee still closed higher.
The second incident involved Bang himself: the K-pop mogul was spotted hanging out with 23-year-old AfreecaTV streamer Juice Se-yeon (real name In Se-yeon) in Beverly Hills, California, US. A video of the pair went viral, sparking criticism of Bang, who is 52 and single at home, and sending HYBE's shares plummeting 6.31%.
Both cases highlight how HYBE's financial performance is deeply intertwined with the private lives of the people associated with the company, since they are essentially the company's true assets.
Outside of South Korea, HYBE has signed an extended 10-year deal with Universal Music Group (UMG), giving it exclusive distribution rights to the company's artists and labels.
HYBE has also formed a new joint venture with American record label Geffen Records to launch a new six-member group, Katseye, in late 2024. The group will be launched through a unique system called “The Debut: Dream Academy,” which aims to replicate HYBE's K-pop system in America.
What assets does Bang Si Hyuk own?
Details of his real estate are unknown, except for one. The one property for which information is publicly available is in Los Angeles, but its ownership was only revealed after a KFTC investigation into HYBE.
After the investigation was launched, HYBE reissued a financial report in which it mentioned a $26.4 million mansion in Los Angeles owned by Bang.
In late July, the K-pop mogul confirmed to the press that he is the owner of the property he purchased in 2023. He revealed that the property was purchased by Belair Stradella, a US-based real estate company that is 100% owned by Bang.
“The omission was unintentional and we have made the necessary corrections,” a HYBE spokesperson told local media after the disclosure.
The mega mansion was reportedly owned by comedian Trevor Noah until 2022. Real estate outlet The Real Deal cited Dirt.com as revealing that the property on Stradella Road in Bel Air is 1,100 square feet. Designed by architect Mark Rios, the property includes a Japanese spa, an open-air pavilion and an infinity pool, next to a separate wine room with a door that opens to a hidden elevator.
(Hero and feature image: Bang Si-hyuk/@hitmanb72/Instagram)
The information in this article is accurate as of the publication date.
