&imwidth=800&imheight=600&format=webp&quality=medium "Did BTS' Suga invest in Elon Musk's SpaceX before IPO? Here's what we know")
South Korean boy band BTS member Suga is creating buzz as he has reportedly emerged as an early investor in Elon Musk's aerospace company, Space X. The rapper had invested in the company years before its landmark public debut, which has drawn widespread attention. Let's delve in to know more details about his investment in SpaceX.
Details of Suga being an investor in Elon Musk's SpaceX
As per the report of South Korean news outlet EDaily, Suga has been invested in SpaceX during its unlisted period through Link Asset Partners (Link Asset Management), the first Korean institutional investor in SpaceX. It is estimated that he has achieved returns of up to 40 times his initial investment.
In addition, the same report suggested that the investment banking industry said, "Suga was an early investor in SpaceX when it was still unlisted. But the exact size of his investment is unknown. He still holds SpaceX shares and has recorded an overwhelming rate of return." SpaceX was valued at around US$46 billion in 2020 before rising to roughly US$100 billion the following year. After its June 12 Nasdaq debut, which Edaily described as the largest initial public offering in US history, the company’s valuation reportedly climbed to about US$1.77 trillion.
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BTS' agency, HYBE, has declined to comment on the report, and a company official said to EDaily, "It is difficult to confirm matters related to an artist's personal affairs." Neither Suga nor Link Asset Partners has publicly commented on the reported investment.
All about Suga
Suga is one of the renowned rappers, songwriters and record producers of the South Korean boy group BTS. Before joining BTS, he was an underground rapper and producer in Daegu, South Korea, under the name Gloss. He writes, arranges, mixes and masters his own music, with over 160 songs credited to his name by the Korea Music Copyright Association.
His solo discography as Agust D, including the critically acclaimed D-Day album that features introspective themes and has achieved massive global streaming and touring numbers.
His solo projects and mixtapes include Agust D in 2016, his debut, self-produced mixtape that established his hardcore rap style and addressed haters and the pressures of fame. D-2, in 2020, his second mixtape and title track Daechwita, became a highly celebrated one for the blending of traditional Korean instruments with modern trap beats. While D-Day, in 2023, his debut solo studio album, made him one of the highest-charting South Korean solo artists in history.
