Britney Spears is the highest earning woman in music for 2012, according to a list recently released by Forbes magazine. The pop star and X Factor USA judge, who has been in the industry for more than a decade, earned $58 million over the past twelve months, barely pulling past Taylor Swift, who took in $57 million, and Rihanna, who gained $53 million.

Most of Britney’s financial gains can be attributed to her latest album, Femme Fatale, which hit certified platinum status in the United States, as well as her endorsement deals and her fragrance line under top beauty company Elizabeth Arden.

This is great news for the star, who seems to have made a successful return to the limelight after going through a tough time a few years ago.

Lady Gaga, Katy Perry, Beyonce, Adele, Sade, Madonna, and Shakira were also included in Forbes’ list.

The list was formed based on the stars’ income from their record sales, tours, endorsement deals, merchandise sales, and their other ventures from May 2011 to May 2012 before the deduction of their management fees, legal costs, and taxes.

(Photo by Jen via Flickr Creative Commons)