Spotify CEO Daniel Ek Sells Additional Shares, Cashing In $28.2 Million in the U.S.

Spotify’s Recent Stock Activity

This week, Spotify’s General Daniel Ek sold another 28.2 million dollars worth of stock. The United States has intensified the sales strategy, which has netted him over three-quarters of a billion dollars since mid-2023.

Ek sold 50,000 shares at $564.48 on Wednesday (April 16), according to SEC filings. The stock closed that day at $563.07.

This transaction marks Ek’s 18th sale since July 2023 and the eighth this year.

The latest sale occurred during a time when Spotify’s stock price has increased by 91.8% over the past 12 months, significantly outperforming the S&P 500 index, which gained only 5% during the same period. Spotify’s shares surged following its first year of operational profitability in 2024.

Financial Gains from Shares Sold

Since January, Ek has exemplified a pattern of selling shares, cashing in about 239 million dollars in Spotify stock this year. His previous transaction on April 1 involved selling 50,000 shares for 27.6 million dollars. Notably, since July 2017, the Spotify CEO opted for a bonus scheme based on performance metrics instead of a traditional salary.

Ek’s total revenue from sales initiated in July 2023 currently stands at approximately 778.3 million dollars.

• In July 2023, Ek sold 675,000 shares for 100 million dollars;
• In October 2023, he sold 400,000 shares for 64.2 million dollars;
• In February 2024, Ek sold 250,000 shares for 57.5 million dollars;
• In April 2024, Ek sold 400,000 shares for 118.8 million dollars;
• In November 2024, Ek sold 75,000 shares for 35.8 million dollars;
• In November 2024, Ek sold another 75,000 shares for 34.8 million dollars;
• In November 2024, Ek sold 75,000 shares again for 36.1 million dollars;
• In December 2024, Ek sold another 75,000 shares for 37 million dollars;
• Also in December 2024, Ek sold 60,000 shares for 28.3 million dollars;
• And again in December, Ek sold 60,000 shares for 27.2 million dollars;
• In January 2025, Ek sold 60,000 shares for 27.8 million dollars;
• Also in January 2025, Ek sold 60,000 shares for 29.3 million dollars;
• In February 2025, Ek sold 60,000 shares for 37.3 million dollars;
• And again in February 2025, Ek sold 50,000 shares for 31.5 million dollars;
• In March 2025, Ek sold 50,000 shares for 29.2 million dollars;
• Also in March 2025, Ek sold 50,000 shares for 28.5 million dollars;
• In April 2025, Ek sold 50,000 shares for 27.6 million dollars;
• And again in April 2025, Ek sold 50,000 shares for 28.2 million dollars.

Market Control and Future Outlook

Despite the ongoing sale of shares, Ek maintains significant control over the streaming giant. According to the latest 20-F filing from February, he holds 14.3% of the shares, which represent 29.1% of the voting power as of the end of 2024.

Ek is not the only company founder liquidating shares. Spotify co-founder Martin Lorenzon sold 556.8 million dollars worth of Spotify shares last year through his holding company, Rosello Co. Ltd. Together, they have cashed in about 1.34 billion dollars in Spotify shares since mid-2023.

The recent sale coincides with a price increase of 22% in the Benelux region, marking the first increase since July 2023. Prices in Belgium, the Netherlands, and Luxembourg now exceed those in larger neighboring economies such as Germany, Spain, and France.

Spotify has also raised prices in other regions over the past year. In April 2024, the company increased prices in the UK, Australia, and Pakistan, followed by a price hike in the United States in June 2024 and in Canada in October 2024.

These price adjustments come as Spotify seeks to achieve sustainable profitability. The company reported its first full year of operating profit in 2024, driven by a growing subscriber base. By the end of 2024, the paid user base stood at 263 million, an increase of 4% or 11 million subscribers compared to the end of the previous quarter.

In January, the company announced that it had paid the music industry a total of 10 billion dollars in 2024.