BTS member Suga invested in Elon Musk‘s aerospace company SpaceX prior to its initial public offering on June 12. This information comes from a report published on Monday by the South Korean news organisation Edaily.
According to unnamed investment banking sources cited by the publication, the musician made the investment via the South Korean venture capital firm Link Asset Partners. The transaction took place before 2022 but the exact financial amount has not been disclosed.
SpaceX held its Nasdaq debut on June 12 in what was recorded as the largest IPO in United States history. Following this event, the company reached an estimated valuation of $1.77 trln. Previously, the enterprise was valued at approximately $46 bn in 2020 and $100 bn in 2021.
Based on these figures, a 2020 investment would yield an approximate return of 3,750% while a 2021 investment would see gains of around 1,670%. The precise return on Suga’s investment remains unknown due to the lack of specific details regarding the sum and exact date of his initial contribution.
A representative for Hybe, the agency managing BTS, declined to verify the claims. The official stated to Edaily that they cannot confirm matters regarding the private affairs of their artists.
