Taylor Swift tops the world's highest-paid celebrities Of 2016
The pop diva's take from June 2015 to June 2016 is the highest total of her young career, the magazine said, more than doubling her previous record of $US80 million last year.
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She out-earned other famous musicians including Adele ($US80.5 million), Madonna ($US76.5 million), Rihanna ($US75 million) and Bruce Springsteen ($US60.5 million).
The Shake It Off singer also outpaced rival Katy Perry, who was last year's top-earning musician at $US135 million, according to Forbes magazine's annual list of 100 highest-paid celebrities.
Perry dropped to number 63 on this year's list, earning $US41 million.
Rockers AC/DC were the highest paid Australian celebrities, sitting at 17th place on the list after earning $US67.5 million in the past year, according to Forbes.
Swift's huge earnings were largely thanks to her 1989 World Tour during which she smashed the Rolling Stones' North American record, grossing $US200 million on the continent en route to a quarter of a billion worldwide, the magazine said.
Coming in at number two on the list this year was boy band One Direction ($US110 million), followed by author James Patterson ($US95 million).
Taylor's former beau, musician Calvin Harris, also made the cut coming in at number 21 ($US63 million).
"The world's 100 highest-paid celebrities pulled in $US5.1 billion pre-tax over the past 12 months, more than the GDP of Belize, Gambia and Bhutan combined," Forbes said.
Live events boosting entertainers' wealth
Magazine editor Zack O'Malley Greenberg said live entertainment continued to be a major cash draw.
"From soccer games in Spain to concerts in China, fans are willing to shell out to see big names — and this is driving the celebrity economy to ever greater heights," he said in a statement.
On the Hollywood front, Jennifer Lawrence was the industry's highest-paid actress for the second consecutive year, earning $US46 million, a slight drop from the $US52 million The Hunger Games star banked the year before.
Actor Dwayne Johnson wrestled the highest-paid actor spot from Iron Man's Robert Downey Jr, earning $US64.5 million, largely thanks to the billion-dollar Fast and Furious franchise and the surprising success of 2015's San Andreas.
Many athletes also made the list, including Portuguese footballer Cristiano Ronaldo ($US88 million), tennis man Roger Federer ($US68 million), and German race car driver Sebastian Vettel ($US41 million).