BTS members Jin, J-Hope and RM recently sold off about 32,000 shares in their management company HYBE’s stock, earning a total of USD 8.4 million, according to regulatory filings. Bloomberg reported that the sale of 31,986 combined shares took place just ahead of the K-pop band’s trip to the US for their Permission to Dance on Stage shows in Los Angeles and their artist of the year win at the recent American Music Awards.
The sale of shares in Hybe, which changed its name from BigHit earlier this year, took place between October 13 and November 9. It was just before stock in the Seoul-based company hit an all-time high on November 16, doubling it’s initial public offering price from October 2020.
Bloomberg also reported that before the IPO, BigHit founder Bang Si-Hyuk gave 478,695 shares — a 1.41% stake in the company now worth around $165 million — to the group’s seven members. Jin sold 16,000 shares worth $4.1 million; J-Hope sold 5,601 shares worth $1.57 million and RM’s were 10,385 shares worth $2.75 million.
The BTS members — whose ages range from 24-28 — might have been looking to cash in “as much earnings as possible” before their pending mandatory two-year military conscription begins. The group’s oldest member, Jin, who turns 29 on Saturday (December 4), has been granted a military deference until late 2022. In August, Billboard reported that each members equity in HYBE were worth around 20 billion won (USD 17 million).
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