- Bang’s success is attributed to the seven-member K-pop group, BTS
- Bang’s net worth skyrocketed after Hybe acquired Ithaca Holdings for over $1 billion in May 2021
- The American company manages Justin Bieber, Ariana Grande and Demi Lovato
Bang Si-hyuk, chairman of Hybe, one of Korea’s largest music labels and entertainment companies, is the 14th richest person in South Korea.
The only billionaire in Korea’s entertainment industry, Bang’s success is attributed to the seven-member K-pop group BTS, which scored five No. 1 albums on the US Billboard 200 charts.
He has a net worth of $2.4 billion, according to Forbes’ Real-Time Billionaires List.
Based on the list, the top three richest in South Korea are Samsung’s Jay Lee, with a net worth of $9.5 billion; Kwon Hyuk Bin, who co-founded Korea’s third-largest gaming company, Smilegate, and has a net worth of $8.9 billion; and Kim Jung-ju, founder of Korea’s largest gaming company, Nexon, and has a net worth of $8.3 billion.
Bang’s net worth reportedly skyrocketed after Hybe acquired Ithaca Holdings for over $1 billion in May 2021. The American company, which is led by Scooter Braun, manages big-name celebrity clients such as Justin Bieber, Ariana Grande and Demi Lovato, among others.
Bang founded his company Hybe, formerly known as Big Hit Entertainment, in 2005 after leaving JYP Entertainment, one of Korea’s “Big Three” music agencies. He worked as a composer and producer for the latter before forming his own company.
While in Hybe, he continued to compose, write and produce music for several artists.
In 2007, the company almost closed due to bankruptcy, but it managed to stay afloat due to a few hit songs.
Bang produced “The Wonder Years,” the debut album by the girl group Wonder Girls in 2007. Three years later, he produced the debut studio album of the boy band 2AM, entitled “Saint o’Clock.”
In 2011, he produced several albums, including Lee Seung-gi’s “Tonight,” Teen Top’s “Roman” and Homme’s “Homme by Hitman Bang.”
Over the years, Bang has also produced songs for famous South Korean artists, including IZ, TXT, GFriend and Seventeen.
Hybe launched BTS in 2013. Since the group’s debut, Bang produced over 20 albums for the band. Among them are “O!RUL8,2?,” “Skool Luv Affair,” “Dark & Wild,” “The Most Beautiful Moment in Life,” “Wings,” “Love Yourself” and “Map of the Soul.”
To date, BTS is considered the best-selling group in South Korean music history, with more than 32 million albums sold.
In July 2021, Bang decided to step down as CEO of Hybe to focus on music production. He remains the chairman of the board of directors for the entertainment company.