Private Real Estate Corporation 'Bel Air Stradella'
HYBE Chairman Bang Si-hyuk has purchased a luxury mansion worth hundreds of billions of won in an affluent neighborhood of Los Angeles, USA. The acquisition was made through a private real estate corporation.
According to the Financial Supervisory Service's electronic disclosure system on the 29th, Chairman Bang reported owning a company called "Bel Air Stradella" through HYBE's large business group status disclosure. The company is engaged in real estate business based in the United States. The corporate name "Bel Air Stradella" is also the name of the location where the mansion is situated. Chairman Bang holds 100% of the shares in this company.
HYBE stated, "The disclosure obligation for the corporation arose due to the designation of the large business group subject to this disclosure, and the omission was a simple oversight corrected through an amended disclosure."
The US real estate specialized media Dirt reported last year that Bang Si-hyuk purchased this luxury mansion for $26.4 million (approximately 36.5 billion won). Since its completion in 2017, it has been known as the residence of Hollywood stars such as Justin Bieber, Beyonc? and Jay-Z, and Ben Affleck and Jennifer Lopez couples. The three-story mansion, with about 1,023 square meters (approximately 309 pyeong) of living space, includes six bedrooms and nine bathrooms. It features a study, gym, lounge, and a separate wine room accessible by elevator. The property also includes a yard, outdoor kitchen, infinity pool, sauna, massage facilities, and a rooftop terrace.
Industry Leader Despite Recording 52-Week Low
Bang Si-hyuk is undoubtedly the dominant stockholder in the domestic entertainment sector. According to the "Large Business Group Owner Stock Wealth Status Analysis" released in May by the Korea CXO Research Institute, a corporate analysis specialist, Bang Si-hyuk's stock wealth was ranked sixth in Korea, totaling 2.5447 trillion won.
With HYBE included in the large business groups with assets exceeding 5 trillion won, Chairman Bang's stock wealth has surpassed that of the heads of the four major conglomerates, including SK Chairman Chey Tae-won and LG Chairman Koo Kwang-mo.
However, due to BTS's military enlistment causing a decline in performance and ongoing disputes within its subsidiary labels, the stock price has been falling continuously. On the 27th, financial information company FnGuide announced that as of the closing price on the 25th, Chairman Bang's stock wealth was evaluated at 2.2397 trillion won, dropping to 13th place in the domestic individual shareholder rankings.
The closing price of HYBE on the 25th, recorded at 170,300 won, marked a 52-week low based on closing prices. Nevertheless, this amount is six times greater than the combined stock valuation of the three major entertainment companies in the industry: SM Entertainment's Lee Soo-man, JYP Entertainment's Park Jin-young, and YG Entertainment's Yang Hyun-suk.
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