By ‘eck, the 34-year-old founder of Spotify, could be worth billions this year!By Elliot Bullman
Spotify's CEO Daniel Ek is worth an estimated US$800 million.
Depending on who you talk to, Spotify CEO Daniel Ek is either the guy who saved the music industry, or the one who killed it.
Nearly a decade after the 34-year-old launched the hit streaming service, rumoured to go publicthrough an IPO within the next few months, he stands to become a multibillionaire.
If the IPO goes forward, Ek's stake will be worth $1.6 billion or more, according toBusiness Insider. Analysts from the advisory firm GP Bullhound, which owns shares in Spotify, predict its valuation could reach$55 billion by 2020,which would rocket Ek's fortune to a massive $5.5 billion.
Born in Stockholm, Sweden, the tech entrepreneur started his first business at just 13 years old, building websites for $100 to $200, he toldPando.com. A year later, he was charging $5,000 a site, and by age 18, he'd brought on 25 employees, and was raking in $50,000 per month.
Today, Spotify has 150 million active users, and over 50 million subscribers who pay $10 a month for ad-free listening.
It's the world's largest streaming serviceby a long shot, and has ushered in a new era of music fandom, where nearly every piece of music ever recorded is accessible to the general public.
- Spain and Mexico’s Trade Relations Curdle over Manchego Dispute
- Cape Town Water crisis: 'Day Zero' Draws Near
- MORGAN STANLEY: Here are the 6 internet stocks to bet on in 2018
- Ford announces $11B investment, 40 electrified vehicles by 2022 at Detroit Motor Show
- Automobile Revenues will fall 40% due to Electric and Autonomous Vehicles
- Mexico debuts its best startups for 2018 at CES
- Inside the Secret Society Running the World of Cryptocurrency
- Opinion: Who Will Profit Off the Next Crash?
- This is how Jeff Bezos will support the 'dreamers'
- Oil Reaches $70 a Barrel for First Time in Three Years
- Peso predicted to make comeback in 2018: Bloomberg
- Chihuahua´s governor denounces Government reprisals for PRI corruption investigation