George Clooney, 57, who is recovering from a motorbike accident, came second, making $239m (£180m) in pre-tax earnings in the year beginning 1 June 2017 to 1 June 2018.
Part of the actor’s income came from the sale of the tequila company he co-founded – Casamigos to Diageo.
Model Kylie Jenner is the youngest woman on this year’s Forbes magazine 60 richest self-made women in America.
The 20-year-old is number 27 on the annual list after amassing a fortune of $900m (£681m) in less than three years, according to the magazine, who described her as set to become “the youngest ever self-made billionaire”.
Briton Ed Sheeran has been named the highest earning solo musician in the world, having taken home more than £80 million over the past year.
He has jumped 62 places from last year, and is ahead of the likes of solo musicians including Taylor Swift and Beyonce in terms of overall earnings.
The 27-year-old earned $110m (£83.1m) over the space of 12 months, according to Forbes.
The highest British act on the list is Coldplay, with estimated earnings of $115m (£86.8 million).
:: Who are the top ten highest earning celebrities of the last year?