10 Best Foreign Stocks to Buy According to Billionaires

4. Spotify Technology S.A. (NYSE:SPOT)

Number of Billionaire Investors: 17

Value of Billionaire Holdings: $4.58 billion 

Spotify Technology S.A. (NYSE:SPOT) is a Luxembourg-based audio streaming giant with both Premium and Ad-Supported services. On February 5, Benchmark analyst Mark Zgutowicz raised Spotify’s price target to $720 from $600 while keeping a Buy rating, citing strong Q4 earnings and confidence in premium content tiers. The price upgrade reflects growing user engagement and the company’s ability to monetize premium offerings. SPOT is one of the best foreign stocks on Wall Street, with 17 billionaires backing this play.

Spotify Technology S.A. (NYSE:SPOT) is expanding its Partner Program to nine more countries on April 29, after a strong launch in the US, UK, Canada, and Australia. Creators in France, Belgium, Germany, and more can now join. The program helps creators earn through Premium video engagement and ad revenue across platforms, giving them a more stable income. Since launching, payouts have jumped over 300%, with top podcasters making six figures a month.

Spotify exceeded expectations across the board and hit record profitability in 2024. The company added 35 million monthly active users in Q4, the biggest quarterly gain in its history, along with 11 million new Premium subscribers, both outperforming Street estimates. Revenue was stronger than expected, given favorable currency shifts and solid business performance. Gross margin rose to 32.2%, up 5.55% from the previous year. Operating income came in at €477 million, slightly below target due to €96 million in unexpected social charges from rising stock prices. Free cash flow amounted to €877 million for the fourth quarter, bringing the yearly total to €2.3 billion.