The bank statements of three members of BTS are now “Dynamite,” thanks to a sudden infusion of cash from stock sales.
Bloomberg reports that Jin, J-Hope and RM sold nearly 32,000 combined shares in Hybe Co., the new name of their management company, which was formerly known as Big Hit. The three members pocketed some $8.4 million from the sale.
Ahead of the company’s IPO, the founder of Hybe, Bang Si-Hyuk, gave BTS a 1.41% stake in the company, which amounted to nearly 479,000 shares. Those shares are now worth $165 million, having doubled since the IPO last October.
The sale netted Jin $4.1 million, J-Hope $1.57 million and RM $2.75 million.
Bloomberg states that the three members are likely cashing in before their mandatory two-year military service. Able-bodied men are originally required to serve 20 months in the nation’s military before they turn 28, but last December, lawmakers passed a bill allowing those who work in certain professions — like entertainment — to put off service until they turn 30.
Jin, the group’s oldest member, turned 28 last December. Another member, Suga, will turn 29 in March. RM and J-Hope are both 27.
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