Diddy is the highest-paid celebrity, according to Forbes

Sean "Diddy" Combs has topped Forbes' annual list of the highest-paid celebrities.

With $130 million in earnings over the past 12 months, Combs edged out Beyoncé for the No. 1 spot. Forbes reports that there are three reasons behind the rapper and mogul's climb. He sold one-third of his Sean John clothing line for an estimated $70 million, he has his lucrative Diageo Ciroc vodka partnership, and he put on his Bad Boy Family Reunion Tour.

Combs wasn't on last year's list, which was topped by Taylor Swift. She fell from the top spot to No. 49 with $44 million earned over the past year.

Here are the top 10 celebrity earners:

11 PHOTOS
The world's highest-paid celebrities
See Gallery
The world's highest-paid celebrities

1. Sean Combs, $130 million

Photo credit: Reuters 

2. Beyoncé Knowles, $105 million 

Photo credit: Getty 

3. J.K. Rowling, $95 million 

Photo credit: Getty 

4. Drake, $94 million 

Photo credit: Reuters 

5. Cristiano Ronaldo, $93 million 

Photo credit: Reuters 

6. The Weeknd, $92 million 

Photo credit: Reuters 

7. Howard Stern, $90 million 

Photo credit: Reuters 

8. Coldplay, $88 million 

Photo credit: Reuters 

9. James Patterson, $87 million 

Photo credit: Reuters 

10. LeBron James, $86 million

Photo credit: Getty 

HIDE CAPTION
SHOW CAPTION
of
SEE ALL
BACK TO SLIDE

Beyoncé made a huge jump from No. 34 last year to this year's No. 2 ranking with $105 million earned. Forbes attributes her meteoric rise to her Formation World Tour and the release of her visual album, "Lemonade."

"Harry Potter" author J.K. Rowling, Drake, and Spanish soccer player Cristiano Ronaldo round out the top five.

For the full list, go to the Forbes website.

RELATED: Check out last year's list:

23 PHOTOS
Celebrity net worths
See Gallery
Celebrity net worths
Taylor Swift: $360 million
Angelina Jolie: $160 million
Brad Pitt: $240 million

Jennifer Aniston: $150 million

Photo: Reuters

George Clooney: $250 million

Courteney Cox: $120 million

Photo: Reuters

Lisa Kudrow: $60 million

Photo: Reuters

Julianne Hough Net Worth: $10 Million

Jerry Seinfeld: $800 million

Photo via Reuters 

Matthew Perry: $70 million

Photo: Reuters

Laurie Hernandez Net Worth: $2 Million
Derek Hough Net Worth: $4 Million

Amber Rose Net Worth: $5 Million
Ryan Lochte Net Worth: $6 Million
Carrie Ann Inaba Net Worth: $8 Million

Matt Leblanc: $60 million

Photo: Reuters

David Schwimmer: $80 million

Photo: Reuters

Julia Louis-Dreyfus: $200 million

Photo via Getty

Michael Richards: $45 million

Photo via Getty

Wayne Knight: $8 million

Photo via Getty

Bruno Tonioli Net Worth: $10 Million

Calvin Johnson Net Worth: $30 Million
HIDE CAPTION
SHOW CAPTION
of
SEE ALL
BACK TO SLIDE

NOW WATCH: Here's how Jay Z and Beyoncé spend their $1.16 billion

More from Business Insider:
The 21 busiest actors in Hollywood right now
Michael Moore launches a secure website for Trump administration whistleblowers
Bill Cosby accuser gives emotional testimony: 'I had a secret about the biggest celebrity'

SEE ALSO: Jon Hamm says he 'might still' go back to teaching instead of acting

DON'T MISS: Jerry Seinfeld explains why he snubbed Kesha: 'I don't hug a total stranger'

Read Full Story

Can't get enough business news?

Sign up for Finance Report by AOL and get everything from retailer news to the latest IPOs delivered directly to your inbox daily!

Subscribe to our other newsletters

Emails may offer personalized content or ads. Learn more. You may unsubscribe any time.