Madonna has topped Forbes' list of highest-earning celebrities of 2013 with an earnings of $125 million (£80m) between June 2012 and June 2013.

According to the magazine that releases the annual list of 100 top-earning celebrities, Madonna's income for the stated period was the highest ever recorded.

"The Material Girl is once again living up to her moniker, earning more than any other member of our Celeb 100. The cash comes mostly from her MDNA Tour, which grossed $305 million, earning her the Top Touring Award at the Billboard Music Awards," the magazine's staff Dorothy Pomerantz wrote in the report.

"Madonna augments her income with heady merchandise sales at concerts as well as her Material Girl clothing line, Truth or Dare fragrance and investments in Vita Coco and others," she added.

The 55-year-old pop singer has beaten several younger pop stars of this generation including the much talked-about pop queen Lady Gaga who ranks tenth on the Forbes' Celeb 100 list for 2013. However, Lady Gaga tops the under-30 list of top-earning celebrities with $80 million (£51m) in earnings.

On the Celeb 100 list, Madonna is followed by Hollywood filmmaker Steven Spielberg who earned $100 million (£64m) in the assessment period. Spielberg's Academy Award winner 2012 epic film Lincoln contributed hugely to his income, the magazine reports.

At the third slot, three authors tie with earnings of $95 million (£61m) . They are EL James, Howard Stern and Simon Cowell. London-born writer EL James, the best-selling author of the Fifty Shades of Grey trilogy, has also debuted at No 1 on the list of Forbes' highest paid authors of 2013.

Click here to view the full list of Forbes' highest-paid celebrities of 2013.