Daniel Ek, co-founder and CEO of Spotify, has amassed a fortune of $6.7 billion, making him wealthier than any musician in history, according to Forbes.
This extraordinary financial achievement positions Ek ahead of even the biggest names in music, such as Taylor Swift, Jay-Z, and Michael Jackson.
Since its launch in 2008, Spotify has become a global leader in music streaming, with over 381 million active users, including 172 million premium subscribers.
The platform operates under a dual-class share structure, with Ek holding around 9% of Spotify’s shares, giving him 37% of the voting power and significant control over the company’s direction.
While Ek’s wealth is a testament to Spotify’s success, it also highlights the ongoing disparity in the music industry.
Despite the platform’s dominance, many artists continue to voice concerns over Spotify’s financial model, which often doesn’t fairly compensate the creators behind the music.
As Ek’s fortune grows, the debate over fair pay for artists remains a key issue, particularly within communities like EDM, where creators hope for change in the future.