All seven are also reportedly facing quarantine at home due to the Omicron strain of the COVID-19 virus.
BTS members Jin, J-Hope and RM recently unloaded nearly 32,000 shares in their management company HYBE’s stock, netting the trio a cool $8.4 million according to regulatory filings. As first reported by Bloomberg, the sale of 31,986 combined shares took place just ahead of the K-pop superstars’ string of sold-out “Permission to Dance on Stage” shows in Los Angeles and their artist of the year win at the recent American Music Awards.
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The sale of shares in the company previously known as Big Hit took place between Oct. 13 and Nov. 9, just before stock in the Seoul-based company hit an all-time high on Nov. 16, doubling it’s initial public offering price from Oct. 2020. Bloomberg reported that before the IPO, HYBE 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.
The reported breakdown of share sales are as follows: Jin, 16,000 shares worth $4.1 million; J-Hope, 5,601 shares worth $1.57 million; RM, 10,385 shares worth $2.75 million. According to an analysis from Korean Investment & Securities’ Hakyung Park, HYBE posted a record third quarter profit, with sales of albums rising to 4.85 million units from 900,000 a year before.
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The story also noted that 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 (Dec. 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 ($17 million).
In addition, the Yonhap News Agency reported that all seven are expected to enter quarantine and miss the upcoming (Dec. 11) Mnet Asian Music Awards in Seoul in light of new restrictions imposed by their home country in the wake of the new Omicron variant of the COVID-19 virus. The group, slated to play at Friday’s (Dec. 3) iHeartRadio Jingle Ball show in Los Angeles, are scheduled to return to South Korea afterwards, where they will face a just announced mandatory 10-day quarantine for all international travelers entering the country, regardless of vaccination status; South Korean citizens will be allowed to self-isolate at home.
A spokesperson for BTS had not returned a request for confirmation of the stock sales and quarantine at press time.