Justin Bieber is 2nd Highest Paid Young Celebrities According to Forbes

Justin Bieber who was hailed as the upcoming venture capitalist by Forbes magazine is again in business. Forbes has released a list of highest paid young celebrities who are below 30 and believe it or not, among the top 5 Justin Bieber is the only male celebrity competing with the likes of Rihanna, Lady Gaga, Katy Perry and Taylor Swift who leads the list.

The list was generated after an extensive statistical research which involved album and concert sales, movies earnings, profit participation, advertising work and endorsements between May 2011 and May 2012. Along with managers, lawyers and agents, insiders were also consulted for this.

Taylor Swift edged past Justin Bieber to take the top position with her earnings at $57 million, with Justin having an estimated earnings of $55 million this year. Rihanna is at No. 3 followed by Lady Gaga on 4th and E.T singer Katy Perry at 5th position.

Taylor swift Beat Justin Bieber For the No.1 Spot on Forbes List

Both Taylor Swift and Justin Bieber are closed friends and they even plan to make another duet very soon. Justin Bieber had even fooled the country singer on the famous MTV show Punk’d.

The Los Angeles bureau chief for Forbes Dorothy Pomerantz said, “”We are seeing a convergence of these talented women who know how to work the system. The things they have in common, obviously they write great hits, are strong personalities. That really helps them from a publicity point of view. They connect with their fans.”

Justin is the first celebrity who rose to fame thanks to the social media networks of Youtube, Facebook and Twitter. Hailed as Twitter King, the singing sensation has over 21 million fans on Twitter alone.

Hollywood starlet Kristen Stewart, who grabbed the number one spot last year with an earning of $34.5 million is on the 7th position this year. The Twilight saga actress is the only Hollywood actress to feature in the list. Her real life boyfriend Robert Pattinson, who is also her co-star in the Twilight series is at No. 10 with earnings of $26.5 million.

With respect to the duo, Dorothy said, “‘Twilight’ has done wonderful things for these kids’ bank accounts,” adding that they are now making $12 million per film in the franchise. “What will be telling is how they do post-’Twilight’.

Justin, you now seem to be facing tough competition not by the boy bands but from the feminine fraternity.