Justin Bieber and Ariana Grande make “about $ 10 million each” from their manager Scooter Braun’s final move.
Scooter’s company Ithaca Holdings has been acquired by HYBE, the agency behind the K-pop phenomenon BTS.
And now, according to Variety, $ 50 million of the purchase price has been shared among some of the scooter’s longtime employees and customers.
Side by Side: Justin Bieber and Ariana Grande each make nearly $ 10 million from their manager Scooter Braun’s latest business move
The customers and employees involved are those who have been involved with Scooter Braun Projects since its launch in 2007.
Scooter itself will get 462,380 of the 863,209 new shares issued as part of the deal, each costing $ 186, according to the Korean filing cited by Variety.
Ariana and Justin are reportedly getting $ 9,961,602 worth of shares each – that is, exactly 53,557 shares.
It is also said that other Scooter acts are doing well, including Demi Lovato who got ‘5,355 shares with a cash value of $ 996,030’.
New deal: Scooter’s (photo) company Ithaca Holdings has been acquired by HYBE, the agency behind the K-pop phenomenon BTS
J Balvin is reportedly doing significantly better than even Demi getting $ 3,984,678 in stock – the hard number is 21,423.
Asher Roth and Carly Rae Jepsen, meanwhile, would only get 535 shares each, but that still adds up to $ 99,510.
HYBE announced their $ 1.05 billion deal to buy the Scooters business on Friday.
What a few: The customers and employees in question are those who have been involved with Scooter Braun Projects since its launch in 2007; Last January, Scooter and Justin were photographed
Great: Ariana and Justin will each get $ 9,961,602 in shares – that is, exactly 53,557 shares; Ariana and Scooter will be photographed in early 2019
Formerly known as Big Hit Entertainment, the Korean company 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 a 100 percent stake in Ithaca Holdings through its wholly owned subsidiary HYBE America,” it said in a statement.
Braun will join the HYBE board and performers from both entities – including BTS, Bieber and Grande – will participate in the South Korean company’s capital increase, it added.
Demi with Scooter: Other old Scooter acts are also doing well, including Demi Lovato who got 5,355 shares with a cash 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 has become a global superstar since their debut in 2013 and their single “Dynamite” hit number one on the Billboard Hot 100 last year, becoming the first South Korean act to top the US charts.
In October, HYBE made a multi-billion dollar stock market debut.
The merger was intended to “accelerate its entry into the world market,” the company said in one of the regulatory filings.
Sensation: HYBE Announced Friday Their $ 1.05 Billion Deal To Buy Scooter’s Firm; Pictured are K-pop prodigies BTS representing HYBE