Daniel Ek net worth rockets as Spotify chief delivers $291m reveal after Arsenal takeover attempt

Daniel Ek has had a turbulent start to the year. The co-founder and CEO of Spotify, who tried to buy Arsenal Football Club from the Kroenke family three years ago, laid off 1500 employees in December, creating a 'significant challenge' for the company.

Speaking to investors in an earnings calls following the first quarter of 2024, he admitted: «Although there's no question that it was the right strategic decision, it did disrupt our day-to-day operations more than we anticipated. It took us some time to find our footing, but more than four months into this transition, I think we're back on track.»

Meanwhile, in an official statement on the Spotify website, Ek said: «We’ve talked about 2024 as the year of monetisation and we’re delivering on that ambition. Now as we’ve shifted to focus on strong revenue growth and margin expansion, we see a clear opportunity to ensure we are also continuing to grow the top of our funnel.

»I feel good about the changes we are implementing and remain very confident in our ability to reach the ambitious plans we’ve outlined."

Then, this month, it was revealed that Ek's risk appeared to pay off with the music streaming service making a quarterly profit of $210million (£168.4m). During the same period this time last year, Spotify suffered a $241m loss (£193.3m).

The company, which was founded in 2006, has enjoyed a fruitful start to 2024. As a result, Ek's net worth remains at around $4.4bn, which is a whopping $2bn rise on his estaimated fortune of $2.3bn last year according to Forbes.

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