Big Hit Entertainment’s IPO it has significantly increased the net worth of both its founder and the BTS band it created in 2013.

The IPO will raise about 962.6 billion won or $820 million USD from the shares that are valued at 135,000 won ($115 USD) each, cashing in on the star power of K-pop band BTS, Bloomberg reports. The South Korean powerhouse has a cult following, which now, with the IPO, has made the band members multimillionaires and its founder a billionaire.

Big Hit Entertainment founder Bang Si-hyuk, who holds 43% of the music firm, is now valued at $1.2 billion, according to Bloomberg. Si-hyuk founded Big Hit Entertainment in 2005. The company has about 800 employees.

BTS band’s seven members have increased their net worth by $8 billion through the IPO, with each owning 68,385 shares of the stock given to them by Si-hyuk in August, Bloomberg reported. The band members have individual net worth’s of $12 million for J-Hope, $8 million for Jin, $8 million for RM, $8 million for Jimin, $8 million for Jungkook, $8 million for V, and $8 million for Suga, The Richest reported.

Gaming company Netmarble Corp., which owns 25% of Big Hit Entertainment after investing $172 million in the company two years ago, has also increased the net worth of founder Bang Jun-hyuk, a relative of Si-hyuk and one of South Korea’s richest people, Bloomberg said.

Despite the pandemic, which canceled BTS’s global tour, the band is still hot in the eyes of investors. With their first all-English song, “Dynamite,” BTS has raced up the charts, grossing $170 million in 2019, Bloomberg said.

Big Hit Entertainment is now valued at $4.1 billion through the IPO, which is expected to list on the South Korea Exchange on Oct. 15, CNN reported.

BTS at Dick Clark's New Year's Rockin' Eve
The boy band BTS is pictured. Astrid Stawiarz/Getty Images for Dick Clark Productions
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