|Image source: time.money.com|
Spotify was founded in 2006 in Sweden, by a company called Spotify Technology S. A. Since launching their service in 2008, the streaming service has become available in 65 regions.
On February 2018, Spotify filed for a direct listing at the New York Stock Exchange, with its first shares trading on April the same year. It truly paved the way for more investors, thanks to the charismatic appeal of Ek.
Image source: cnbc.com
Time.com reports that financial analysts from advisory firm, GP Bullhound, believe that Spotify’s value could skyrocket to $55 billion by 2020. This means that Ek’s net worth would reach $5.5 billion when that time comes. Because of Spotify’s success, Ek now belongs to the elite group of 6o billionaires in the world under the age of 40.
I'm Steve Sorensen, an investment strategist and business graduate from Iowa State University. I am fascinated by the success of Fortune 500 companies and blog about the developments that led to the exponential growth in net worth of the world's most successful companies. For more articles on successful businesses and companies, visit this page.