The 'Material Girl' hitmaker was named number one in the annual rich list despite her most recent album 'MDNA' being a commercial flop - with sales of under one million - because her accompanying tour boosted her estimated earnings to $125 million between June 2012 and June 2013.
Fans paid upwards of $100 a ticket to see the singer on the tour - which grossed $305 million - and Madonna also made big earnings from merchandise sales, a clothing line, fragrance and investments in companies like Vita Coco.
Director Steven Spielberg ranked second in the list with estimated earnings of $100 million.
His vast library of classic films - including 'Jurassic Park' - have helped bring in the cash, while last year's 'Lincoln' brought in $275 million on a budget of $65 million.
Rounding off the list in joint third place - all with earnings of $95 million - were '50 Shades of Grey' author E.L. James, Howard Stern and Simon Cowell.
The 'X Factor' boss and 'America's Got Talent' host were also recently named the highest-paid TV personalities in America by Forbes magazine.