The sound of success: Spotify CEO’s net worth

Image source: time.money.com

Spotify has become the most popular music streaming platform, with approximately 87 million paying customers as of June 2018. Founder, Daniel Ek, enjoys the fruits of his labor by sitting pretty at a net worth of 2 billion, with Spotify said to be worth at least $20 billion.


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

35-year-old Ek started his first tech company when he was only 14 years old, and had a taste of real tech money when he was able to sell his online advertisement company, Advertigo. According to a post by CNBC, Ek and co-founder Martin Lorentzon were talking about music in a small cabin outside Stockholm when they thought of the idea for a music streaming service.


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.

The fastest growing net worth in the tech industry today

Considering the epic rise of tech companies such as Facebook, Amazon, and Alibaba, it’s no surprise that people keep looking at Tech or FinTech companies for massive growth. These industries can grow a mile overnight and can reach the heavens within months of their initial operations. Here are some of the fastest growing companies in terms of net worth.

In terms of growth, Amazon is still king. With a rather impressive 59% growth in stock prices over the last year, CEO Jeff Bezos is currently the richest tech CEO with a net worth of $112 billion, the only tech billionaire to breach the $100 billion mark. This recent stock growth contributed close to $40 billion to his current net worth. Bezos currently owns 16% of Amazon stocks.


Bill Gates held the spot for richest man alive 18 times in the last 24 years and goes back to number 2 this year with a net worth of $90 billion. This net worth does not include the $31 billion Gates has donated to philanthropic causes over the years.


Two of the top newcomers in the tech industry hail from Russia. Andrey Andreev, creator of Badoo, the largest dating website in the world, makes it to the list along with Pavel Durov, known for being the Russian Mark Zuckerberg. Some of Durov’s creations include social media network Vkontakte and Telegram Messenger.


My name's Steve Sorensen, an investment strategist and, recently, business blogger. I have been fascinated by the meteoric growth of some of the world's most successful companies, so I have been looking into their history to find out how their net worth has grown to Fortune 500 levels. For more insightful reads on the tech industry’s CEOs, visit this website.