Rain has made US$26 million (S$35 million) in capital gains by selling a commercial construction which he bought 13 decades back.
The 38-year-old South Korean singer-songwriter, dancer, celebrity, and album producer, whose birth name is Jeong Ji Hoon, is much better known by his stage .
Based on reports on 21 June, the singer-actor turned tag owner purchased the building to get US$14.7 million (S$19.7 million) and sold it before this year to get US$43.5 million, turning a gain of at least 100%.
The building is conveniently situated in close proximity to Cheongdam station inside the renowned luxury community of Cheongdam. The construction has also been home Rain’s tag, Rain Business. Rain founded two firms, originally J. Tune Entertainment at 2007 and Rain Company in 2015.
Although Rain’s gain is closer to US$28 million, after deducting earnings along with also the approximately US$7 million that he was able to restore the construction, the true profit from the selling of this construction is reduced.
Rain’s entertainment career started when he joined JYP Entertainment in 2000. He’s released seven albums and toured several occasions globally. His third album, It’s Raining (2004), sold one million copies in Asia and recognized him as an global celebrity. He later established his place as a Hallyu wave celebrity with his role in hit play Full House (2004), also went on to star in Hollywood films Speed Racer (2008) and Ninja Assassin (2009).