The list, which takes into account earnings during the period May 2011 to May 2012.

List-leader, 22-year-old Taylor Swift is reported to have made $57million (?37million) as she averages 4 million sales per album, $1million per live show per night, plus endorsements.

Justin Bieber is the highest charting male on the list at No.2 (and the only one in the top five) with estimated earnings of $55million. As well as similar income streams to Swift, he has reportedly invested in ...