IMAGES: The world's highest-earning celebrities under 30!
Forbes Magazine has released its annual list of the highest-paid stars under 30 years of age for 2012. Take a look!
In the following pages, we bring you the wealthiest youngsters in entertainment from across the globe.
The list, compiled by Forbes Magazine, is dominated by women -- only four men made it to the top 10 and only one among them is in the top five.
Read on to know just who is in the big leagues and how much they're worth!
1. Taylor Swift
The 22-year-old singer snapped up first place, earning an estimated 57 million dollars for the year ending in May and beating out teen heartthrob Justin Bieber, who snagged second place with 55 million dollars.
Each of Taylor's three albums has gone platinum at least four times, and the Grammy winner rakes in one million dollars per concert, on top of her lucrative CoverGirl cosmetics contract, Forbes said.
Image: Taylor Swift
Photographs: Taylor Swift album cover
2. Justin Bieber
Bieber, 18, came in second with his earning from music sales, sold-out concerts and endorsements for products like skincare line Proactiv.
The Canadian crooner, whose video for Baby is the second most-watched on YouTube, also boasts of an enviable investment portfolio, with stakes in popular start-up companies Tinychat and Spotify, Forbes said.
Image: Justin Bieber
Photographs: Boyfriend single cover
The Barbados-born singer, 24, edged out last year's first place winner Lady Gaga, 26, for third place with 53 million dollars.
Rihanna earned her impressive haul from her recent Talk That Talk album, an 85-night concert tour and endorsement deals with Vita Coco coconut water and Nivea lotion.
Photographs: Cover of Harper's Bazaar Magazine, August 2012
4. Lady Gaga
Gaga got dropped to fourth place this year because the list's May deadline hit before she embarked on her latest world tour, Forbes said.
The Poker Face singer had earned an estimated 52 million dollars, down from 90 million dollars last year.
Image: Lady Gaga
Photographs: Cover of Vanity Fair Spain, May 2011
5. Katy Perry
The quirky popster, 27, nabbed Number Five with her estimated earnings totalling 45 million dollars.
Image: Katy Perry
Photographs: Teenage Dream album cover
Close on Katy's heels is 24-year-old British sensation Adele, who raked in a neat 35 million dollars.
"We're seeing this confluence of talented young female stars. They have such distinct personalities and sounds, they can all co-exist without cannibalising each other," the New York Daily News quoted list author Dorothy Pomerantz as saying.
Pomerantz said that Swift embodies "youth, innocence and the struggle of being a teen" while Rihanna is the "edgy bad girl" and Adele is all about stripped-down "heartfelt" vocals.
She also attributed young female singers' wealth to benefits from bigger endorsement contracts in the areas of beauty, health and fashion.
Photographs: Cover of Vogue Magazine, March 2012
7. Kristen Stewart
Twilight sensation Kristen, 22, is estimated to have earned $34.5 million and grabbed seventh place, beating out boyfriend Robert Pattinson by a wide margin of $8 million more.
Image: Kristen Stewart
Photographs: Cover of Elle Belgium, August 2010
8. Lil Wayne
Rapper Lil Wayne is the eldest on the list at 29 and places eighth with $27 million.
Image: Lil Wayne
Photographs: Cover of Rolling Stone Magazine, August 2011
9. Taylor Lautner
In at nine is twenty-year-old Twilight hunk Taylor with $26.5 million.
Image: Taylor Lautner
Photographs: Cover of Rolling Stone Magazine, December 2009
10. Robert Pattinson
And rounding off the top 10 is Taylor's Twilight co-star Robert, 26, with $26.5 million.
This year's list did not include athletes as it has in the past.
"Athletes are at the height of their career when they're under 30, so they tend to earn a lot more," Pomerantz said.
"We do a lot of athlete lists, so we wanted this list to focus on Hollywood and entertainment," she added.
Image: Robert Pattinson
Photographs: Cover of Esquire Greece, April 2011