BTS' Suga reportedly scores at least 20-fold return from early SpaceX investment
BTS member Suga / Xportsnews
Suga of BTS has reportedly emerged as an early investor in SpaceX, with industry sources estimating that his investment has generated returns of at least 20 times its original value.
According to an Edaily report published Monday, Suga invested in the private space company through Link Asset Partners, a Korean investment firm that became the first domestic institutional investor to back SpaceX before it was publicly traded.
Citing investment banking industry sources, the report said Suga continues to hold his stake and has earned "overwhelming" gains from the investment.
The report said Suga invested before 2022, estimating a conservative return of around 20 times his initial investment. If he entered around 2020, the return could be closer to 40 times, according to the report.
BTS member Suga / Xportsnews
Founded by Elon Musk, SpaceX was valued at roughly $46 billion in 2020. The company's valuation rose to about $100 billion in 2021 following additional fundraising rounds.
The company went public on June 12, debuting with a market capitalization of approximately $1.77 trillion based on its initial public offering price of $135 per share.
Suga's agency, BigHit Music, did not comment on the report.
Meanwhile, BTS kicked off the European leg of its “BTS WORLD TOUR ‘ARIRANG'” in Madrid on Friday. The tour will continue with 10 concerts across four other major European cities: Brussels, London, Munich and Paris.
This article from Xportsnews is adapted by a generative AI system and edited by The Korea Times.