Madonna named highest-paid musician by Forbes

Pop star Madonna has pipped the likes of Lady Gaga to the title of highest-paid musician in the world, according to Forbes magazine.

The 55-year-old earned $125 million from June 2012 to May 2013 thanks to her sell-out MDMA Tour, while Gaga earned $80 million, reports femalefirst.co.uk.

Rockers Bon Jovi and country singer Toby Keith take the third and fourth spot in the list, with Coldplay occupying the fifth place.

The top ten was rounded out by Justin Bieber ($58 million), Taylor Swift ($55 million) and Elton John ($54 million), followed by Beyonce Knowles and Kenny Chesney, both of whom brought home $53 million each.