The K-pop band are ranked #54 with a net worth of $44 million

K-pop band BIGBANG are the first Korean act to be featured in Forbes’ World’s Highest Paid Celebrities 2016.

The South Korean boy band are worth $44 million, earning them the 54th position on Forbes’ annual list. The five piece band also raked in the third highest earnings for any boy band in history within in a single year, ranking just behind Backstreet Boys and One Direction. Big Bang consists of Korean singers T.O.P., Taeyang, G-Dragon, Daesung and Seungri.

The hip-hop based group made their debut in 2006 and have been increasingly successful ever since. Their hits include ‘Fantastic Baby’, ‘Haru Haru’ and ‘Bad Boy’.

The Forbes list is comprised of celebrities from all around the world, representing a number of industries including sport, film and music.

The music industry had a strong presence in this year’s Forbes list, with Taylor Swift ($170m) and One Direction ($110m) taking first and second places respectively. Adele ($85m) took ninth place. Last year, Big Bang earned $11m more than America’s highest-paid pop act, Maroon 5.