Daniel Ek’s Recent Share Sales
The General Director and co-founder of Spotify, Daniel Ek, cashed another 29.3 million dollars on Wednesday (January 22), marking his latest in a series of stock sales since mid-2023.
This sale occurred against the backdrop of Spotify’s continued success in the stock market, with shares recently hitting historical highs.
The latest transaction saw Ek sell 60,000 shares at the closing price on Tuesday (January 21) of $487.51 per share, according to SEC filings discovered by MBW. As of Wednesday, Spotify’s market capitalization exceeded 100 billion dollars.
Financial Overview and Strategic Insights
This sale follows another significant transaction only two weeks earlier when Ek cashed 27.8 million dollars in shares on January 8, bringing total share sales in 2024 to 57.1 million dollars.
Ek’s share-selling spree began in July 2023. Since then, he has accumulated 597.3 million dollars from share sales, including this week’s transaction, based on MBW calculations. In 2024 alone, Ek sold 376 million dollars worth of Spotify shares.
The recent sale of Ek’s shares marks the twelfth occasion since July 2023 that he has liquidated some of his Spotify shares:
- In July 2023, Ek sold 675,000 shares for 100 million US 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, this time 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 27.7 million dollars;
- In January 2025, Ek sold 60,000 shares for 27.8 million dollars.
Combined with this week’s 29.3 million dollars, all sales total 597.3 million dollars.
Ek’s share-selling strategy seems to leverage Spotify’s strong market performance. The price of the streaming giant’s stock has significantly increased since its IPO, nearly tripling over the past six years.
On Wednesday (January 22), Spotify closed 1% higher at $493.6 on the NYSE, up 140% over the past year and 197.5% higher than its opening price of $165.90 in April 2018.
Since July 2017, Ek has forgone a traditional salary in favor of a performance-based bonus scheme tied to growth metrics.
MBW has also tracked share sales by Spotify co-founder Martin Lorentzon, who sold 556.8 million dollars in shares during 2024, primarily through his Rosello holding company. However, Lorentzon has paused his sales since December 2024.
The company’s statements highlight the substantial ongoing influence of its co-founders: Ek retains 15.6% ownership of shares and 30.5% voting power, while Lorentzon, serving as board director, holds 10.9% of shares and 42.7% voting control as of December 31, 2023.
Share sales continue to strengthen Spotify’s position in the streaming industry. Recent initiatives include significant investments in podcasts, audiobooks, and video content as the company explores additional revenue channels.
Spotify is set to release its financial results for the fourth quarter of 2024 on February 4. The company’s management predicts quarterly revenue of 4.1 billion euros (4.3 billion US dollars) and an operating profit of 481 million euros for Q4. Should these targets be met, Spotify will achieve an annual income of 15.5 billion euros and an operating profit of 1.37 billion euros for 2024.
Daniel Ek sells another $29m in Spotify stock as total cash-out nears $600m
