A South Korean book publishing company is literally reaping the benefits after the Tesla founder fired off a tweet earlier this week.
WITH more than 56.4m followers, anything Elon Musk tweets is bound to get some attention.
But a South Korean book publishing company is now literally reaping the benefits after the Tesla founder fired off a tweet earlier this week, resulting in a 10% increase of their shares.
It all started when Musk responded to a South Park tweet, sharing the show’s ‘Meme Stars Battle it Out’ scene.
In response to the tweet, he wrote: “Baby Shark crushes all! More views than humans.”
The tweet gained more than 983 responses and 9 400 likes.
According to CNBC, Musk posted the tweet in the early hours Tuesday, Asian time, and by Wednesday, shares of Samsung Publishing, a major shareholder in the producer of the viral song and video, increased more than 10 percent, before closing 6.29 percent higher.
When the catchy tune was released in 2016, it become so lucrative that the Korean family behind it was sitting on a rapidly growing multimillion-dollar fortune.
Kim Min-seok co-founded closely held SmartStudy Co. in 2010, and five years later its children’s educational brand, Pinkfong, released “Baby Shark.” His father runs Samsung Publishing, which also owns part of the startup, Bloomberg reported.
The Kim family owns 63 percent of Samsung Publishing, which in turn owns 21 percent of SmartStudy.
The song has spawned a number of renditions over the years, with the most popular being remixed version.
In 2019, the makers of ’Baby Shark’, Pinkfong, released a Valentine’s Day version.
Watch the original version of the song below:
