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29 November 2012, 10:54
Britney Spears, Rihanna and Lady Gaga also feature on the full list of high earners in music.
Britney Spears, Taylor Swift and Justin Bieber have all made it onto a list of the top ten highest earning musicians of the past year.
Forbes magazine unveiled their top 25 highest earners in the industry this week, which also features the likes of Rihanna, Lady Gaga, Katy Perry, Beyonce and Jay-Z.
The list was topped by Dr. Dre who earned an estimated $110 million, thanks to the success of his Beats headphone range, while the top five earners also features veteran stars like Pink Floyd's Roger Waters, Elton John and U2.
Britney Spears is at number seven on the list with $58 million earned over the last twelve months from her latest album and tour, as well as other endorsements and ventures.
Taylor Swift is at number eight with $57 million after a string of high-profile tour dates, while Justin Bieber earned $55 million after ever-increasing music and merchandise sales, as well as investing in start-ups such as Spotify.
The 'We Are Never Getting Back Together' singer, seen below, has also made huge earnings as the face of CoverGirl (Credit: PA):
Outside of the top ten is Rihanna at twelve with $53 Million after another year of heavy promotion as well as product endorsements for Vita Coco and Nivea, as well as her own fragrance launch Reb'l Fleur, while Lady Gaga and Katy Perry follow soon after with earnings of $52 million and $45 million, respectively.
Despite having a relatively quiet year Beyonce finds herself at number 18 on Forbes' list with estimated earnings of $40 million, while her husband Jay-Z is at 20 with £38 million after his successful 'Watch The Throne' team-up with Kanye West.
The list was compiled from musicians' complete earnings between May 2011 and May 2012, before taking away deductions like management fees and taxes.