Breaking News
Translate

BOX OFFICE SMASH: ‘Parasite’ investors rake in big money after Best Picture win

Kindly Share This Story:

Parasite

A tiny South Korean hedge fund hit the jackpot when it made a long-shot investment in the surprise Oscar-winning movie “Parasite,” according to a report Wednesday.

The Seoul-based fund Ryukyung PSG Asset Management Inc. plunked down $500,000 to help bank-roll the genre-bending satirical thriller and is poised to rake in millions after the award, according to Bloomberg News.

ALSO READ: Jeff Bezos buys Beverly Hills mansion for record $165 million

Parasite by Bong Joon Ho cost $11 million to make peanuts by Hollywood standards and has already earned $165 million at the box office, according to the outlet

The flick became the first non-English-language film to ever to win an Academy Award for best picture Sunday, sending box office sales soaring.

The movie earned $539,000 on Monday, a 24 percent post-Oscars spike.

ALSO READ: Man allegedly beats wife to death for disobeying him

The fund, which only invests in movies distributed by Korea’s CJ Group, has returned more than 72 percent for investors since its launch in July 2018, according to the outlet.

The company has also profited from other Korean films including “Extreme Job” and “Exit.”

New York Post

Vanguard News

Kindly Share This Story:
All rights reserved. This material and any other digital content on this platform may not be reproduced, published, broadcast, written or distributed in full or in part, without written permission from VANGUARD NEWS.

Disclaimer

Comments expressed here do not reflect the opinions of vanguard newspapers or any employee thereof.
Do NOT follow this link or you will be banned from the site!