https://www.recode.net/2018/2/28/17064048/spotify-ipo-sony-music-billion-dollar-equity-streaming

Spotify’s coming IPO is validation for CEO Daniel Ek, who has built a giant music streaming business.

And on paper, the IPO* will make Ek and his co-founder Martin Lorentzon billionaires. Ek owns 9.3 percent of his company and Lorentzon owns 12.4 percent. (An earlier version of this story incorrectly reported the size of Ek’s and Lorentzon’s ownership stakes.)