Despite having to fight off some stiff competition, Madonna has managed to top the Forbes list of the world's highest-paid musicians.

It has been estimated that the star earned £77 million during the year between June 2012 and June 2013, most of which she made from her MDNA World Tour though she also made huge amounts from the sales of her perfume and her Material Girl clothing line.

The second highest paid celebrity according to the list was Lady Gaga who made a whopping £40.3 million from various revenue streams including her Born This Way Ball tour and record sales.

It was bad news for Dr Dre who topped the list last year but this year fell to number 20 although it's doubtful that the rapper will become destitute any time soon.

He full list of the top 10 high musicians according to Forbes is as follows:

1. Madonna £77m ($125m)
2. Lady Gaga £49.6m ($80m)
3. Bon Jovi £49m ($79m)
4. Toby Keith £40.3m ($65m)
5. Coldplay £39.7m ($64m)
6. Justin Bieber £36m ($58m)
7. Taylor Swift £34.1m ($55m)
8. Elton John £33.5m ($54m)
9. Beyoncé £32.9m ($53m)
10. Kenny Chesney £32.9m ($53m)

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