The singer made $185m (£148m) in pre-tax earnings in the year beginning June 1 2018. The bulk of Swift’s 2018/19 earnings came from her ‘Reputation’ stadium tour, which is adjudged to be the highest-grossing tour in US history.
She last topped Forbes‘ Celebrity 100 in 2016, when her pre-tax earnings were calculated to be $170m (£136m).
Elsewhere on the list, Kanye West came in third place having earned an estimated $150m (£120m) in 2018/2019, while Ed Sheeran came in fifth and is the highest-ranking Briton with estimated pre-tax earnings of $110m (£88m).
New entries in this year’s countdown include South Korean group BTS at 43 and Ariana Grande at 62.
Swift’s new album ‘Lover’ – her first release with her new record label Republic Records – comes out in August.
It comes at a difficult time for Swift after she recently lost much of her back catalogue to Big Machine label boss Scooter Braun. Lily Allen was among a host of musicians who sent her a message of support amid the high-profile row.
Posting on Instagram over the weekend, Allen wrote: “So, this week we had Taylor Swift expose a pretty brutal side of the music industry, some middle aged multi millionaire white dudes doing what they do best, controlling, belittling and humiliating the very people that they couldn’t do without.”