The singer’s number one place on the list comes after her estimated pay grew 131 per cent since 2018, according to the publication, with touring contributing to a huge part of her success.
Swift’s Reputation Stadium Tour, which started last year, is the highest-grossing US tour in history, according to Billboard Boxscore, after grossing $266.1m (£212m) domestically and $345m (£276m) overall.
According to Forbes, Netflix acquiring Swift’s live concert special and endorsement deals with Apple, AT&T and Diet Coke also added “millions” to her income, while her new deal with Universal Music Group’s Republic Records could be “worth up to $200m (£160m)”.
This is not the first time the 26-year-old has topped the list – in 2016, she was named the highest-paid celebrity in the world with an income of $170m (£136m) as a result of her 1989 World Tour.
According to the publication, the makeup mogul sold an estimated $360m (£288m) worth of Kylie Cosmetics in 2018, with her beauty company worth “at least $900m (£720m)”.
In third place is Kanye West with $150m (£120m), followed by football player Lionel Messi and Ed Sheeran, with earnings of $127m (£101m) and $110m (£88m) respectively.
Men comprise the rest of the top 10 spots, with the third female highest-paid celebrity, JK Rowling, ranked 13th on the list.
Beyonce and Jay Z reported identical earnings of $81m (£64m), with the couple tied for 20th place.
The 100th place on the list goes to Celine Dion, who earned $37.5m (£30m) in 2019.
According to Forbes, the 100 celebrities earned an overall total of $6.3bn (£5bn) in pre-tax earnings over the last 12 months.