Spotify’s co-founder and CEO, Daniel Ek, has sold another $28.2 million worth of company stock this week, continuing a steady divestment streak that has now surpassed 778 million since mid-2023.
Ek’s Latest Stock Sale
According to an SEC filing, Ek offloaded 50,000 shares on April 16, 2025, at approximately $564.48 per share— just above Spotify’s closing price of 563.07 that day.
This marks his 18th sale since July 2023 and his eighth transaction in 2025 alone, reinforcing a biweekly selling pattern that has netted him $239 million this year.
A Billion-Dollar Sell-Off
Ek’s stock sales have accelerated alongside Spotify’s surging share price, which has jumped 91.8% over the past 12 months—far outpacing the S&P 500’s 5% gain. The streaming giant’s stock has been buoyed by its first full year of operating profitability in 2024 and steady subscriber growth.
Key Sales Since 2023:
- July 2023: $100M (675K shares)
- October 2023: $64.2M (400K shares)
- February 2024: $57.5M (250K shares)
- April 2024: $118.8M (400K shares)
- November-December 2024: $163.4M (285K shares)
- January-March 2025: $152.6M (220K shares)
- April 2025 (so far): $55.8M (100K shares)
Total proceeds since 2023: ~$778.3M
Despite the sell-off, Ek retains significant control, holding 14.3% ownership with 29.1% voting power as of February 2025.
Co-Founder Lorentzon Also Cashing Out
Ek isn’t alone—Spotify’s other co-founder, Martin Lorentzon, sold $556.8 million in shares last year through his holding company. Combined, the two have offloaded $1.34 billion in Spotify stock since mid-2023.
Spotify’s Price Hikes & Profit Push
The share sales coincide with Spotify’s aggressive subscription price increases, including:
- Up to 22% hikes in Benelux (Belgium, Netherlands, Luxembourg) in early 2025
- 2024 increases in the US, UK, Canada, Australia, and Pakistan
These moves come as Spotify seeks to sustain profitability after posting its first full-year operating profit in 2024. The platform now boasts 263 million paid subscribers, up 11 million in Q4 2024 alone, and paid a record $10 billion to the music industry last year.
Why Is Ek Selling?
While executives often sell shares for personal financial planning, Ek’s consistent divestments—especially amid Spotify’s strong performance—raise questions. Possible reasons include:
- Diversifying investments (common among tech CEOs)
- Funding other ventures (Ek has invested in AI, health tech, and more)
- Locking in gains after Spotify’s stock surge
For now, Ek remains at the helm, with no signs of slowing Spotify’s growth—even as he steadily cashes out.
