Oprah Winfrey - Oprah Winfrey Is World's Highest Paid Celebrity

The media mogul has come out on top in the new Forbes magazine poll, just days after being listed as the 11th most powerful woman in the world in another survey from the same publication.

Winfrey's annual earnings from the year from May, 2011 to May, 2012 edged out filmmaker Bay, who scored second place with $160 million (£100 million) thanks to the success of the latest Transformers movie, Dark of the Moon, which grossed more than $1.1 billion worldwide.

Spielberg was a distant third with $130 million (£81.25 million), while Hollywood producer Jerry Bruckheimer ($115 million/£71.9 million) and rap mogul Dr. Dre ($110 million/£68.75 million) rounded out the top five.

Other big earners to make the Forbes countdown include director Tyler Perry and reality TV guru Simon Cowell, while the only other woman in the top 20 was Britney Spears, who placed 20th.