Daniel Ek, the 29-year-old founder of Spotify has shot his way up The Sunday Times music rich list, to place equal tenth with Mick Jagger and the Beckhams, with a worth of £190 million.
The Sunday Times Rich List will be published on Sunday 29 April, and lists the wealthiest individuals in Britain and Ireland. This year the list will also reveal the wealthiest music millionaires.
Spotify was launched in 2008 and the digital music company is valued at £1.2 billion. It took London-based Ek just four years to be earn the same amount as what Mick Jagger and the Beckhams have spent years accruing.
Spotify said in a statement: "It's a fun list, but obviously all hearsay. We'll just continue working hard on building the best music service possible and getting the money back to those that matter - the people that make the music."
Spotify may never have turned a profit, but it's thanks to Ek's large stake in the company that he makes it onto this list.
Spotify has 16 million tracks available to its 10 million users and 3 million paying subscribers. It recently launched an embeddable player for websites and an Android app, and is available in the USA, UK, Sweden, Finland, Norway, Denmark, France, Germany, Switzerland, Austria, Belgium, The Netherlands and Spain.
200 independent record labels deserted Spotify last November, accusing the service of cannibalising their revenue.
What do you think of Ek making to the Times top ten richest in music? Let us know in comments below.
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Huffington Post UK | By Melanie Hick Posted: 26/04/2012 11:25 Updated: 26/04/2012 12:32