Katy Perry graces the cover of Forbes' annual ‘Highest Earning Celebrities’ issue this month, as the singer is ranked as the world’s highest paid female entertainer as well as the biggest money making musician. Perry comes in a number three overall on the list and is beaten only by boxers Floyd Mayweather and Manny Pacquiao after their record breaking fight last month.

Katy PerryKaty Perry is 2015’s highest earning musician.

Mayweather tops the list after making an incredible $300 million in earnings, mostly thanks to the ‘fight of the century’ which took place May 1st in Las Vegas. His opponent Manny Pacquiao didn't do too badly for himself either, coming in second place with earnings of $160 million.

More: Katy Perry Says She Hasn't Spoken To Russell Brand Since Their Divorce

According to Forbes, Perry earned $135 million from June 2014-June 2015, thanks to her mega-successful ‘Prismatic World Tour’. "I'm an entrepreneur," the singer told Forbes. "I don't want to shy away from it. I actually wanted to kind of grab it by its balls."

In the number four spot came boyband One Direction who took $130 million, even after Zayn Malik quit in March. Radio DJ and departing ‘America's Got Talent’ judge Howard Stern was placed fifth on the list, with total earnings of $95 million over the year.

Perry’s rumoured rival Taylor Swift made it to the number eight spot, with her earnings adding up to $80 million thanks to her record breaking ‘1989' album and world tour. Iron Man star Robert Downey Jr. emerged as the year’s highest paid actor, coming in at number nine, just ahead of soccer star Cristiano Ronaldo.

More: Katy Perry Fails In Trademark Application For "Left Shark" Design

But the list’s biggest surprise was with last year’s number one Beyoncé, who fell to the 29th spot, earning only $54.5 million this year, a major drop from last year’s $115 million. Reality star and all round mogul Kim Kardashian had one of the list’s highest leaps going from 80th place in 2014 to 33rd this year after earning $52.5 million