Madonna Named Richest Woman in Music

Madonna is not only the queen of pop, she is also the queen of cash after being named the highest earning woman in music by Forbes Magazine.Forty-nine-year-old Madonna has topped the first ever Forbes magazine Cash Queens of Music list after earning $72 million in one year, between June 2006 and June 2007.The majority of her earnings last year came from her 'Confessions' tour, which cashed in $260 million worldwide.Record sales and her deal with fashion retailer H&M also added to Madonna's fortune along with the payment she received from broadcasters NBC for rights to air her Wembley Stadium performance.The second highest earner on the list was also the oldest - Barbra Streisand.
The 65-year-old raked in $60 million last year - likely to have been fuelled by her comeback tour, which was her first since announcing her retirement in 2000.Coming in third was Canadian singer Celine Dion who earned $45 million, thanks to her massively successful A New Day concert series at Caesar's Palace in Las Vegas.The long-running show, which opened in 2003 was seen by an estimated three million fans before closing in December 2007.Colombian singer Shakira, who enjoyed massive success with her album 'Oral Fixation Volume 2' and single Hips Don't Lie last year, was fourth on the list earning $38 million.
She was followed by R&B diva Beyonce who earned $27 million.Troubled pop star Britney Spears was a surprise entry coming in at number 14 on the list after barely touring and being seen lip-synching at gigs last spring.
Spears still managed to earn $8 million from her old hits and sales of her perfume, Curious, which netted $55.4 million in 2006.In compiling the list, Forbes examined concert grosses, merchandising revenue, album sales and additional revenue from other businesses, including fragrance deals and endorsements.Only "active" artists were considered - those who had released an album or film or toured during the specified period, Forbes said.