Bang Si Hyuk sees a significant drop in net worth in 2023
Bang Si Hyuk is recognized around the world as “the one who made BTS great”.
He became the “hitman” of kpop and his company HYBE is now at the top of the kpop world.
However, he saw a significant drop in his net worth on South Korea’s rich list in 2023.
Forbes magazine compiled the list. We can see that the President of HYBE is ranked 16thth This year.
This is a big difference from last year as it was ranked 12thth in 2022 with a net worth of $3.3 billion.
This year he is 16th Position with a net worth of $1.9 billion.
These numbers may seem worrying, but it appears to be a trend among South Korean millionaires in 2023.
In fact, Forbes explained this drop in net worth, claiming that it was due to the falling stock market and the weaker Korean won.
According to the magazine, this trend has impacted the combined wealth of all tycoons on Forbes 2023 list of Korea’s 50 Richest. Her wealth fell 18% to $106 billion from $130 billion a year earlier.
The country is among those that have performed worst recently. The benchmark Kospi fell 9% on rising interest rates and falling demand for tech goods, which account for a third of the country’s total exports.
Despite everything, Bang Si Hyuk is doing well in this situation. His influence on the music industry is still strong.
In 2022, BTS performed at the Grammy Awards and their album Butter topped charts around the world.
Also, Big Hit has become HYBE, a company that allows many labels to expand and thrive with the resources at their disposal.
Despite the defeat in the SM Entertainment takeover, HYBE is doing well!
