Spotify is now the world’s largest and most profitable music company, according to NPR.
The music streaming company is now worth approximately $25 billion, contradicting critics (including Steve Jobs) who believed that it would not be a sustainable company. All of the founders of illegal streaming site Pirate Bay are now in prison, BitTorrent is almost obsolete, and paid iTunes downloads are decreasing by 25% each year. It seems unlikely that Spotify is going anywhere anytime soon.
Daniel Ek, the CEO, currently owns shares of $4 billion, which makes him the richest man in the history of music — at only 35 years old.