Daniel Ek has now cashed out $666M in Spotify shares
Spotify CEO and co-founder Daniel Ek continues to sell off portions of his stake in the streaming giant, capitalizing on the company’s soaring stock price.
Ek sold another 50,000 shares on Wednesday (February 19) for USD $31.5 million, or $630.56 apiece, based on the company’s closing price on Tuesday.
The sale, disclosed in an SEC filing, came just days after Spotify’s stock hit a new all-time high of $648.32 on Thursday (February 13).
By Wednesday, SPOT’s stock rose 1.9% from the previous session to $642.73, boosting its market capitalization to $129.07 billion, a 164% increase over the past year.
Ek’s latest divestment came two weeks after the Spotify boss cashed out $37.3 million in company shares from the sale of 60,000…
