The Swedish founders of Spotify, Daniel Ek and Martin Lorentzon, recently sold $1 billion worth of shares in the audio platform, according to calculations by financial news agency Bloomberg, based on transparency declarations.
Last year, the duo sold more than 2.5 million shares, the highest number in a single year since 2019, according to Bloomberg. Daniel Ek sold 1.1 million shares, matching his 2023 figure. Martin Lorentzon, who had not reduced his stake since 2021, sold nearly 1.5 million shares. They have continued to sell shares in recent weeks.
Despite these sales, the two founders still own around 16% of Spotify and, together, they have a net worth of approximately $22 billion.
Since early 2024, Spotify’s share price has surged by 239%. Last year, the online platform reported its first annual profit.
