BTS Suga Is Genius Investor And His Early Deal With Elon Musk's SpaceX Proves It - Full Report Explained

BTS

member Suga has reportedly made an early investment in Elon Musk's aerospace company SpaceX, according to a new report that caught the attention of both the business and entertainment worlds. The rapper, who recently wrapped up BTS' 2-day sold-out Madrid concert on June 26-27 at the Riyadh Air Metropolitano Stadium, is also a smart investor, and he just proved that. According to a report by South Korean outlet Edaily, the 33-year-old put his money in a deal in the pre-listing stage of SpaceX through Link Asset Partners (Link Asset Management), which was reportedly the first domestic institution in South Korea to invest in the company.

Details of Suga's SapceX investment

It has not been revealed exactly how much Suga invested. But sources from the investment banking industry have said that the K-pop idol is believed to still have shares in SpaceX.The investment has attracted attention given the huge growth SpaceX has achieved in recent years. The company, valued at some $46 billion in 2020 and reportedly climbing to some $100 billion in 2021 after big funding rounds, is now valued at some $46 billion.Most recently, SpaceX went public, listing its shares on the New York Stock Exchange at an estimated $1.77 trillion market capitalisation, based on an offering price of $135 per share.

What does Suga's SpaceX deal mean?

The news has revealed yet another side of Suga's interests outside of music, including his alleged involvement in the tech and future-oriented industries. The BTS member has long been known for his songwriting, producing and creative work, but news of investments has sparked curiosity among fans about his business interests.

What did HYBE say to the report?

However, HYBE, the agency of BTS, has not confirmed the report. According to Koreaboo, the company said when asked about the issue, “We cannot confirm issues regarding individual artists' investments.This is consistent with the usual practice of HYBE not disclosing the personal financial activities of its artists.

BTS members' solo ventures

Suga's reported SpaceX investment comes as BTS continues to extend its global influence beyond entertainment, with members branching out into areas like fashion, business, philanthropy and creative ventures. Details of the investment have not been confirmed by the agency, but the report has again brought attention to Suga's rising profile beyond the stage.

Suga's income source and brand footing

For now, Suga's net worth is estimated to be between $30 million and $50 million. His wealth comes from his highly successful music career, lucrative songwriting and production royalties, brand endorsements, and solo tours.Beyond his work with BTS, Suga (aka Agust D) has a massive discography. He has written and produced over 100 songs for BTS and top artists like PSY, IU, and Halsey. His solo albums and massive D-Day world tour generated substantial revenue, too.