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Sean Combs ousts Taylor Swift as highest-paid global entertainer

Last year, Combs came in 22nd on the list.

P Diddy who has been crowned as 'Forbes' Magazine's top paid entertainer for 2017. Picture: screengrab/CNN

LOS ANGELES - Rapper and music producer Sean "Diddy" Combs was named the world's highest-paid entertainer on Monday, ousting pop singer Taylor Swift who fell to 49th place on the Forbes annual list.

Beyonce moved into the second spot with $105 million, courtesy of her best-selling Lemonade album and world tour, while British author JK Rowling ($95 million) moved back into the top three thanks largely to her Harry Potter spinoff movie franchise Fantastic Beasts and Where to Find Them.

Combs, 47, earned an estimated $130 million in the 12 months ended 1 June 2017, Forbes said. It attributed the big payout to his Bad Boy Family Reunion Tour, earnings from his Sean John clothing line, and his partnership with Ciroc vodka.

WATCH: Hollywood Minute: Top-earning celebs

Last year, Combs came in 22nd on the list in a year when Swift bested all-comers with $170 million after her best-selling 1989 album and world tour.

This year, the 27-year-old country singer-turned-pop star, with no new album or tour, saw her paycheck dip to $44 million, Forbes estimated.

Newcomers in 2017 include model Kylie Jenner, the 19-year-old half-sister of reality TV star Kim Kardashian, who earned $41 million, and United States radio and television personality Steve Harvey with $42.5 million.

Forbes compiles the list estimating pre-tax earnings, before deducting fees for managers, based on data from Nielsen, touring trade publication Pollstar, movie database IMDB.com, and interviews with industry experts and celebrities themselves.

The world's top 100 celebrities earned a cumulative $5.1 billion - about the same as last year, Forbes said.

The full list can be seen on www.forbes.com/celebrities