Bang Si Hyuk, the chairman of HYBE Labels, has recently revealed that he purchased a $26.4 million mansion in Los Angeles through a subsidiary company. The acquisition, which took place in April of last year, involved a HYBE Labels subsidiary known as BEL AIR STRADELLA, LLC. This information came to light after HYBE Labels made corrections to its 2024 state of affairs report.
Bang Si Hyuk used a subsidiary to acquire a luxurious mansion in Los Angeles, sparking shareholder speculation
The Korea Fair Trade Commission (KFTC) launched an investigation into HYBE Labels earlier this year, probing into the company’s state of affairs report. The KFTC did not disclose the specifics of what might have been omitted or fabricated in the report, but it was suspected that the omissions involved companies owned by Bang Si Hyuk and his relatives.
On July 26, KST, HYBE Labels addressed the issue by publishing several corrections to the report. Among these corrections was the acknowledgment of BEL AIR STRADELLA, LLC, a U.S. subsidiary fully owned by Bang Si Hyuk and registered in December 2023. Shareholders quickly speculated that this company was created solely to facilitate the purchase of the mansion in the upscale Bel Air neighborhood of Los Angeles, California.
Additionally, BEL AIR STRADELLA, LLC is registered as a real estate company, leading some shareholders to cynically comment, “Wonder what sort of lofty dreams drove him to open a real estate company…”
This mansion, previously owned by comedian Trevor Noah until 2022, has now become a focal point of discussion among HYBE shareholders. It raises questions about the motivations behind the purchase and the use of a subsidiary to acquire such a luxurious property.
In related news, HYBE and ADOR’s dispute still continues to worsen despite numerous attempts to fix legal hearings. Previously, Min Hee Jin’s Kakao messages were also exposed, sparking huge controversy among its employees and the public.
