Spotify's 2025 annual filing: founders Daniel Ek and Martin Lorentzon hold 69.3 percent of the voting power through special voting certificates. Tencent owns 8.1 percent of the shares.
The beneficiary certificates carry no economic rights and are issued to provide the holders of such certificates additional voting rights. Each beneficiary certificate entitles its holder to one vote.
Spotify's 2025 annual filing: founders Daniel Ek and Martin Lorentzon hold 69.3 percent of the voting power through special voting certificates. Tencent owns 8.1 percent of the shares.