One Direction to be ‘wealthiest boyband around’

One Direction members will be "absolutely minted" following the release of their next album.

The British pop group consists of Zayn Malik, Liam Payne, Louis Tomlinson, Niall Horan and Harry Styles. Each member of the band have a reported net worth of around $30 million at this time.

One Direction was once an act on the UK version of TV singing competition The X Factor and their first two albums Up All Night and Take Me Home were largely produced by other musicians.

It is rumoured the boys are hard at work creating their own pieces for their as-yet untitled third record and their original songwriting is set to triple their fortunes to around $90 million each.

"The boys are loving their new role in the band. Before, when they first got together everything was done for them but they want to give their fans something different, something they have written themselves," a source told British newspaper The Mirror.

"This means that when it comes to royalties, they will be absolutely minted. They are on target to be the wealthiest boyband around."

One Direction's 128-date Take Me Home tour, which began in February and ends in Australia in October, sees them performing in Europe, North America and Oceania.

They recently premiered their new single Best Song Ever and the boys will perform around the world once again next year on their Where We Are Tour.

The release date of their third studio album remains under wraps.