Britney Spears, Taylor Swift and Bajan-born Rihanna are making the most bank in music!

Forbes debuted its list of top earning women in the music industry in 2012 with Britney topping the list, raking in a whopping  $58 million (thanks, in part, to her $15 million X Factor payout, wildly successful Femme Fatale album, and a new fragrance with Elizabeth Arden) followed by singer/songwriter Taylor Swift with $57 million and Rihanna ranking third with a cool $53 million!

This is T.Swift’s second consecutive year in the #2 spot. The 22 year old has earned millions on her insanely popular tour, has a successful deal with CoverGirl cosmetics and her fourth studio album, Red, has already gone triple platinum.

In addition to a heavy touring schedule and an impressive string of hits, including Diamonds and We Found Love, Rihanna cashes in on endorsements with Vita Coco and Nivea, as well as fragrance Reb’l Fleur.

Last year Rihanna was ranked number 25 in the World’s Highest Paid Musicians list with $29 million.

Lady Gaga—who earned the top spot in 2011—came in fourth this year with $52 million, followed by Katy Perry who cashed in a $45 mil.