Taylor Swift has been named the highest-paid celebrity under 30.
The 22-year-old singer/songwriter topped the annual list by Forbes after earning US$57 million between May 2011 and May 2012, which is mainly thanks to her three albums - Taylor Swift, Fearless and Speak Now - all going platinum at least four times.
The blonde beauty's gigs bring in an average of $1 million per night and her endorsement work for products such as CoverGirl makeup have also helped to cement her place at the top of the list.
Justin Bieber was narrowly beaten into second place after earning $55 million, meaning the 18-year-old pop star is the highest ranked male in the list and the only one in the top five.
Rihanna ($53 million) was in third largely thanks to her 85-night tour and her 2011 hit album Talk That Talk - which spawned singles such as We Found Love and Birthday Cake - while Lady Gaga just earned less than the brunette beauty after amassing $52 million.
But the Born This Way hitmaker's total is much less than the $90 million she earned to top the under-30 list last year.
Katy Perry completed the top five with $45 million, and British singing sensation Adele was in sixth with $35 million after a highly successful period that saw her win six Grammys and two Brit Awards.
Twilight star Kristen Stewart was in seventh with $34.5 million ahead of her cast mates Taylor Lautner and boyfriend Robert Pattinson, who were tied in ninth after both pulling in $26.5 million, while US rapper Lil Wayne was sandwiched in between the trio in eighth with $27 million.
Forbes' top 10 highest-paid celebrities under 30:
1. Taylor Swift ($57 million)
2. Justin Bieber ($55 million)
3. Rihanna ($53 million)
4. Lady Gaga ($52 million)
5. Katy Perry ($45 million)
6. Adele ($35 million)
7. Kristen Stewart ($34.5 million)
8. Lil Wayne ($27 million)
9 & 10. Taylor Lautner and Robert Pattinson ($26.5 million)
- Bang! Showbiz