Kylie Jenner has topped Forbes' annual list of highest-paid celebrities.

The 22-year-old make-up mogul is reported to have made as much as $590 million over the past year, putting her way out in front of second-placed Kanye West ($170 million) on the list.

However, Forbes now estimates Kanye's net worth to be $1.3 billion, largely thanks to his Yeezy fashion line.

Kylie's eye-watering earnings came after she sold a 51 percent stake in Kylie Cosmetics to the beauty giant Coty.

But the finance magazine - which made its calculations using pre-tax earnings between June 2019 and May 2020 - has reiterated its recent claim that Kylie is not a billionaire.

Elsewhere, tennis champion Roger Federer ($106.3 million), and soccer stars Cristiano Ronaldo ($105 million) and Lionel Messi ($104 million) hold third, fourth and fifth places on the list respectively.

The top ten is rounded out by Tyler Perry ($97 million), Neymar ($95.5 million), Howard Stern ($90 million), Lebron James ($88.2 million) and Dwayne Johnson ($87.5 million).

Kylie recently became involved in a high-profile dispute with Forbes, after the magazine insisted she wasn't a billionaire.

The publication accused the make-up mogul of spinning a ''web of lies'' about her business, including her Kylie Cosmetics brand.

But Kylie's lawyer, Michael Kump, hit back at Forbes, insisting its article contained ''outright lies'' about the star and demanding the company retract its comments.

He said: ''We have reviewed Forbes' article accusing Kylie of engaging in deceit and a 'web of lies' to inflate her net worth. The article is filled with outright lies.

''Forbes' accusation that Kylie and her accountants 'forged tax returns' is unequivocally false and we are demanding that Forbes immediately and publicly retract that and other statements.''

Prior to that, Kylie took to social media to slam the publication for making ''unproven assumptions''.

She fumed on Twitter: ''what am i even waking up to. i thought this was a reputable site.. all i see are a number of inaccurate statements and unproven assumptions lol. i've never asked for any title or tried to lie my way there EVER. period ... 'even creating tax returns that were likely forged' that's your proof?

''so you just THOUGHT they were forged? like actually what am i reading .. but okay ... i am blessed beyond my years, i have a beautiful daughter, and a successful business and i'm doing perfectly fine. (sic)''