Legendary rocker Elvis Presley remains the highest earning dead celebrity - 28 years after he passed away in 1977.

Forbes' annual list of Ten Top Earning Dead Celebrities shows Presley is the top earner for the fifth straight year, generating $45 million (GBP25 million) for his estate.

PEANUTS cartoonist CHARLES SCHULZ, who died in 2000, holds the number two spot, with $35 million (GBP19.4 million).

The magazine has also calculated what playwright William Shakespeare's heirs might collect each year if he were still under copyright and estimated it to be $15 million (GBP8.3 million) with over 5,000 performances of his plays and hundreds of thousands of books sold in the last year.

The Top Five Highest Earning Dead Celebrities are:

1. ELVIS PRESLEY (died in 1977) - $45 million (GBP25 million) 2. CHARLES SCHULZ (died in 2000) - $35 million (GBP19.4 million) 3. John Lennon (died in 1980) - $22 million (GBP12.2 million) 4. Andy Warhol (died in 1987) - $16 million (GBP8.9 million)

5. Dr Seuss (died in 1991) - $10 million (GBP5.6 million).