SPOTIFY FOUNDERS ENRICHED TO THE TUNE OF $5.8 BILLION IN LISTING

Spotify Technology SA’s stock debut just made its founders two of Sweden’s richest people.

Chief Executive Officer Daniel Ek is worth $2.4 billion thanks to his 9 percent economic stake in the music-streaming service. Co-founder Martin Lorentzon’s 12 percent holding gives him a $3.4 billion fortune, according to the Bloomberg Billionaires Index.

Trading of Spotify shares began in New York in an unusual direct listing, giving the company a market value of about $28 billion.

Source: Bloomberg

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