Justin Bieber and Ariana Grande are making ‘approximately $ 10 million each’ from their manager’s latest business move, Scooter Braun.
Scooter’s company, Ithaca Holdings, has been acquired by HYBE, the agency behind the K-pop phenomenon BTS.
And now $ 50 million taken from the purchase price has been divided among some of Scooter’s longtime employees and customers, according to Variety.
Side by Side: Justin Bieber and Ariana Grande are making nearly $ 10 million each from their manager Scooter Braun’s latest business move
The customers and employees in question are those who have been involved with Scooter Braun Projects since its launch in 2007.
Scooter, himself, is getting 462,380 of the 863,209 new shares that were delivered as part of the deal, each costing $ 186, according to the Korean regulatory filing cited by Variety.
Ariana and Justin are reportedly each receiving $ 9,961,602 worth of shares, or exactly 53,557 shares.
Other Scooter acts are also said to be doing well, including Demi Lovato, who ‘obtained 5,355 shares with a monetary value of $ 996,030.’
New deal: Scooter’s company (pictured), 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 at getting $ 3,984,678 worth of stock, the difficult number is 21,423.
Meanwhile, Asher Roth and Carly Rae Jepsen are said to only get 535 shares each, but that still amounts to a value of $ 99,510.
HYBE announced its $ 1.05 billion deal on Friday to buy the Scooter firm.
What a couple: The customers and employees in question are those who have been involved with Scooter Braun Projects since its launch in 2007; Scooter and Justin get photographed last January.
Fantastic: Ariana and Justin each receive $ 9,961,602 in shares, or exactly 53,557 shares; Ariana and Scooter are shown 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 firm “will acquire through its wholly-owned subsidiary HYBE America, a 100 percent 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 capital increase of the South Korean company, he added.
Demi with Scooter: Other longtime Scooter acts are also succeeding, including Demi Lovato, who earned 5,355 shares with a monetary value of $ 996,030.
“This is an opportunity for us to make history and further innovate in the music industry,” Braun said of the merger.
BTS have risen to global stardom since their 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 top the United States chart.
In October, HYBE made a multi-million dollar stock market debut.
The merger was aimed at “accelerating its entry into the global market,” the company said in one of the regulatory filings.
Sensation: HYBE Announced Its $ 1.05 Billion Deal To Buy The Scooter Firm On Friday; Pictured are the K-pop BTS wunderkinds whom HYBE represents