Bang Si-hyuk discloses full ownership of $26.4M Bel Air Villa in HYBE filing update

HYBE Chairman Bang Si-hyuk purchased a $26.4 million residence in Los Angeles through a real estate company he wholly owns.

HYBE chairman Bang Si-hyuk [YONHAP]

HYBE Chairman Bang Si-hyuk purchased a $26.4 million residence in Los Angeles through a real estate company he wholly owns.

After previously failing to disclose the information, Bang revealed that he owns a 100 percent stake in the U.S. real estate company Bel Air Stradella in an electronic filing with HYBE on Tuesday. As HYBE was listed as a large business group earlier this year, the company is required to make such disclosures.

“The omission was unintentional, and we have now made the necessary correction,” a HYBE spokesman told local media.

Bang purchased a luxury villa in Bel Air Stradella Road in Los Angeles for $26.4 million last year, according to U.S. media. It was reported that Bang purchased the property for music production and to expand his network in the United States.

BY CHO YONG-JUN [cho.yongjun1@joongang.co.kr]