Spotify founder Daniel Ek once said he was the ‘least powerful person’ at the company. Here’s how he built it into a $145 billion music empire

(Credit: David Paul Morris—Bloomberg/Getty Images)

Daniel Ek is stepping down as CEO of Spotify two decades after he upended the music industry with his now–$145 billion streaming juggernaut.

Ek, who cofounded Spotify in 2006 in Stockholm, is not leaving the company, but rather stepping into the executive chairman role starting in January 2026 with a focus on big-picture moves and capital-allocation decisions.