Scooter Braun has officially promised artists like Ariana Grande, J Balvin and Justin Bieber major equity payouts after HYBE agreed to buy Ithaca Holdings.
The entire deal between Braun and BTS’s agency HYBE has reportedly come up to $1.05 billion and a sum of $40 million will be paid in equity to staff and artists out of stake.
According to Billboard, a total of 39 people, including Braun himself, and Big Machine Label Group CEO Scott Borchetta are reported to gain $161 million in shares from the transaction.
Braun’s individual share calculates up to 462,380 ($86.2 million) Borchetta is set to get about 166,537 ($31.1 million). Artists like J Balvin are to amass over 21,423 shares, Demi Lovato is reported to gain 5,355 shares ($1.2 million) and Quavo is said to receive 1,338 ($287,630).
The rest in line include executives, staff members, artists, and existing Ithaca shareholders.