Daniel Ek Net Worth | Celebrity Net Worth

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What’s Daniel Ek’s Net Worth?

Daniel Ek is a Swedish billionaire technologist and entrepreneur who has a net worth of $5 billion. Daniel Ek co-founded and serves because the CEO of the music streaming service Spotify. Spotify was based in 2006 however was completely out there in Europe for a number of years.

As we speak Ek owns round 9% of Spotify. When Spotify went public in April of 2018 at a valuation of $28 billion, Ek was left with a paper net worth of round $2.6 billion. On the time of the IPO, Spotify had 71 million paying subscribers and $5 billion in annual income.

Earlier than Spotify Daniel had a senior position within the Nordic public sale firm Tradera, was the CTO of the sport and vogue group Stardoll, and was the CEO of the adware consumer uTorrent. Ek additionally based the internet marketing firm Advertigo, which offered to TradeDoubler in 2006.

Early Life and Profession Beginnings

Daneil Ek was born on February 21, 1983 in Stockholm, Sweden. As a teen, he went to IT-Gymnasiet in Sundbyberg. Ek had his first foray into the world of enterprise on the age of 13, when he began making web sites for numerous shoppers. Beginning at a fee of $100 per web site, he ultimately started charging $5,000. To assist develop this enterprise, Ek enlisted college students from his class to work on the web sites at their college’s laptop lab. By the age of 18, he was making $50,000 a month and managing a workforce of 25 folks. Ek went on to enroll on the KTH Royal Institute of Expertise to check engineering, however finally dropped out to pursue his IT profession.

Tradera and Stardoll

Certainly one of Ek’s first main positions within the skilled world was at Tradera, a Swedish-based on-line market that was based in 1999. He served a senior position on the firm, which sells each new and secondhand objects comparable to clothes, electronics, and artwork. The service accommodates each industrial and personal sellers, and permits worldwide patrons to take part via a registered PayPal account. Tradera was ultimately acquired by eBay in 2006.

One other enterprise Ek was concerned in was Stardoll, a browser-based recreation and vogue group he served because the CTO of. As a part of the group, gamers are capable of create their very own digital dolls, or select current superstar dolls to decorate up in numerous types of make-up and clothes. Gamers can use in-game foreign money to purchase magnificence, attire, and decor objects, and can even take part in quite a few challenges and mini-games. Whereas open to everybody, Stardoll is especially centered on offering an area for youngsters and younger girls to precise themselves and socialize with others from across the globe.

Advertigo and uTorrent

The primary firm based by Ek was Advertigo, a web based promoting firm. In 2006, it was bought by the Swedish digital advertising firm TradeDoubler. Following this, Ek briefly grew to become the CEO of the proprietary adware consumer uTorrent, working alongside the corporate’s founder Ludvig Strigeus. Ek left his place when uTorrent was acquired by BitTorrent in December of 2006.

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Spotify

After promoting Advertigo, Ek had sufficient wealth that he selected to retire. Nonetheless, inside a number of months of this choice, he got here to the conclusion that he wished to start out a brand new mission. This led to the founding of Spotify in 2006. Ek initially had the concept for the service in 2002, when peer-to-peer music service Napster shut down. Shortly after founding Spotify, Ek integrated the corporate with former colleague Martin Lorentzon. In October of 2008, they launched Spotify’s authorized music streaming service. It initially ran on a peer-to-peer distribution mannequin, however switched to a server-client mannequin in 2014. Ek is the CEO of the corporate, and have become chairman in 2015 when Lorentzon stepped down from the position.

With greater than 365 million month-to-month customers, Spotify is without doubt one of the largest music streaming companies on the earth. Its content material library consists of digital copyright restricted music and podcasts, encompassing over 70 million songs from media corporations and report labels. Spotify has raised billions of {dollars} in enterprise funding since its launch. Furthermore, Spotify Enterprise Worth has risen to greater than $58 billion, giving Ek a share of $6.3 billion.

Criticisms of Authorities

Ek has been vocal in his criticisms of the Swedish authorities, particularly the restrictions it locations on up-and-coming programmers. In 2016, he and Spotify co-founder Martin Lorentzon penned an open letter to the federal government on the running a blog platform Medium, declaring that they might relocate Spotify from Sweden if sure modifications to housing, schooling, and taxation legal guidelines weren’t made. Ek claimed that the nation’s excessive taxes on inventory choices make it troublesome for programmers to work at startups, which must compete with larger corporations on wage.

Private Life

In 2016, Ek wed his longtime accomplice Sofia Levander at Lake Como in Lombardy, Italy. Actor and comic Chris Rock officiated the marriage, whereas singer Bruno Mars carried out. Among the many visitors was Fb founder and CEO Mark Zuckerberg. Collectively, Ek and Levander have two youngsters.

A lifelong supporter of the Premier League membership Arsenal, Ek made a proposal to buy the membership for round £1.8 billion in 2021. Nonetheless, he was turned down by the house owners.


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