Brazilian supermodel Gisele Bundchen has once again topped Forbes' list of the world’s highest earning models. It’s the 14th year in a row that Gisele has come out on top of the list, but this year she faced some new competition as Kendall Jenner and Gigi Hadid both saw their earnings increase dramatically.

Kendall JennerKendall Jenner is catching up with Gisele on the Forbes highest earning models list

Gisele made $30.5 million in the last year to keep her on top of the list, despite the fact her earnings have dropped by 30 per cent from last year. At number two is fellow Brazilian Adriana Lima who took home $10.5 million in the last year.

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At three is Kendall Jenner, who this year saw her earnings increase by 150 per cent. Kendall has made $10 million in the past year, thanks to her deals with Estée Lauder and Calvin Klein, which were no doubt boosted by her strong social media presence.

Tying with Kendall at three is former Victoria's Secret model Karlie Kloss, who’s also one of the most prominent members of Taylor Swift’s girl ‘squad’. She saw her earnings double in the past year thanks to deals with Caroline Herrera and Swarovski.

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The highest earning newcomers on the list are Gigi Hadid and Rosie Huntington-Whiteley who both make their debut at number five with earnings of $9 million. Like Kendall, Gigi also has a strong social media following and was first known for featuring on a reality show with her family. Rosie, who has also now transitioned into films, is the highest ranking British model on this year’s list.