Oprah Is Highest Paid Celebrity, Says Forbes

Oprah Winfrey has come out top of the Forbes list of the highest paid celebrities for the fourth year straight, despite the struggles of her new television network.

The talk show queen has failed to find major success with joint venture partner Discovery Communications on the OWN network, and earnings fell by a staggering $125m (£79m) from last year.
However, her ownership in syndicated TV shows such as Dr Phil, Rachael Ray, The Dr Oz Show and other media products enabled her to earn an estimated $165m (£104m) between May 2011 and May 2012, Forbes.com said.
Oprah, who wrapped up her syndicated talk show last year after a 25-year run, also has her magazine, O, and her satellite radio station.
She is trying to boost ratings on the struggling cable network OWN with shows including Oprah's Lifeclass and Oprah's Next Chapter, but Forbes warned that "her reign might not last much longer as this is the last year we'll count any of her syndication money".
Snapping at Oprah's heels in the list was movie director Michael Bay, whose action-packed adventure Transformers: Dark Of The Moon released last year helped him earn $160m (£102m) based on participation in ticket and toy sales and other revenue, according to Forbes.
Film director Steven Spielberg was third, earning $130m (£82m) in the 12-month period from his participation in TV shows like Smash and the release of the movies The Adventures Of Tintin and War Horse.
Next was Jerry Bruckheimer with $115m (£73m) from TV shows and films including Pirates of the Caribbean: On Stranger Tides, followed by music producer Dr Dre, who earned $110m (£69m) based mostly on the sale of part of his stake in the Beats by Dr Dre headphone company.

Dr Dre made millions by selling part of his stake in his headphones company

Forbes explains how it calculates the top earners: "To determine who the highest-paid celebrities are, we considered upfront pay, profit participation, residuals, endorsements and advertising work.
"We talked to manager, agents, lawyers and other in-the-know folks to come up with our estimates. We did not deduct for things like agent fees or the expenses related to being a celebrity."
The Top 10 Highest Paid Celebrities 2011/12:
1. Oprah Winfrey, media mogul: $165m
2. Michael Bay, film director: $160m
3. Steven Spielberg, film and TV producer/director: $130m
4. Jerry Bruckheimer, film and TV producer: $115m
5. Dr Dre, music producer: $110m
6. Tyler Perry, actor and producer: $105m
7. Howard Stern,  radio and TV personality: $95m
8. James Patterson, author: $94m
9. George Lucas, film producer: $90m
10. Simon Cowell, music producer and TV personality: $90m