Spotify CEO Daniel Ek has recently sold $100 million worth of stock as the company’s value continues to soar. Spotify, one of the pioneers in the music streaming industry, has received significant attention over the years, both for its success as a company and its leader, Daniel Ek.
In a filing with the Securities and Exchange Commission, it was revealed that Ek sold 675,000 shares, amounting to $100,001,250, on July 27th. This move comes a year after Ek personally invested $50 million in Spotify stock. On Twitter, he explained his decision, stating, I’ve always been vocal about my strong belief in Spotify and what we are building. So I am putting that belief into action this week by investing $50M in $SPOT. I believe our best days are ahead…
The shares were sold by D.G.E. investments, a Cyprus-based company indirectly controlled and owned by Ek. Throughout 2023, Spotify’s stock has experienced a steady increase in value, with shares rising from just over $80 at the beginning of the year to nearly $150 at the time of this writing.
Daniel Ek holds significant influence within the music industry, having been named the most powerful man in the field by Billboard in 2017. However, he has not yet commented on the recent stock sale.
