Spotify Executive Stock Sales: $1.58 Billion in Two Years

Between April 2023 and January 2025, 17 top executives at Spotify carried out 81 stock sales, totaling $1.58 billion. Over a billion dollars of this went to the two co-founders.

Since April 2023, Spotify Technology S.A., based in Luxembourg and listed on the New York Stock Exchange (NYSE) under the ticker symbol SPOT, has filed at least 81 notices of stock sales by its top executives with the SEC (Securities and Exchange Commission)¹.

Twelve of these notices were filed on behalf of its CEO and co-founder Daniel Ek, for a total of 2.265 million shares. This allowed him to pocket $597.31 million through his offshore holding company D.G.E. Investments Limited, based in Cyprus, where it benefits from a total exemption from capital gains tax on the sale of shares.

Four other notices were filed on behalf of Spotify's other co-founder, Martin Lorentzon, or on behalf of his offshore holding company Rosello Company Limited, also based in Cyprus, for a total of 1.48 million shares, the sale of which earned him $556.76 million.

Other stock sale notices by Spotify's top executives notified to the SEC between April 2023 and January 2025 indicate that:

• Gustav Söderström, head o…