With Goldman Sachs predicting recorded-music revenue will reach $75 billion in 2030, investors want in. On June 3, Warner Music Group went public in the year's biggest stock offering, and its share price rose 39% over the next two days.
The company itself didn't raise any money — the shares were sold by Len Blavatnik's conglomerate, Access Industries — but it's now worth $18.3 billion based on its $31.05 per share closing price on June 10.
After selling $1.86 billion in stock and adding dividends and management fees, Access has taken out $3.34 billion from Warner — slightly more than the $3.3 billion Blavatnik bought the company for in 2011.
Read more on billboard.com