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.