Forbes Top Earning Dead Celebs: Elizabeth Taylor Heads List, Followed by Michael Jackson

Elizabeth Taylor has topped the Forbes 2012 list of top-earning dead celebrities, followed by the King of Pop, Michael Jackson.

Taylor is holding the number one spot in the Forbes' ranking of dead celebrities with $210 million and Jackson is at second spot with $US145 million.

The Forbes' assessment suggested that last year's record setting action of her belongings at Christie, New York, has put her earnings way beyond that of any other celebrity. Her estate earned about $184 million by auctioning her jewelry, costumes and art work, including her perfumer White Diamonds, which is said to have sold for a whopping $75 million.

Meanwhile, earnings from Taylor's movies have also significantly contributed to boost the value of her estate.

After "Cleopatra", the star smartly negotiated a 10% ownership stake in each of her films. Her estate also collects money from "Around The World in 80 Days", which was produced by her ex-husband, Michael Todd, reported Forbes.

Meanwhile, the magazine also forecasted that Jackson would reclaim the top spot in the list next year, given that his estate has several firm means of earnings and Taylor is very unlikely to repeat the feat.

Below are the names of dead celebrities holding the top 5 spots in Forbes 2012 list:

1. Liz Taylor ($210 million)

2. Michael Jackson ($145 million)

3. Elvis Presley ($55 million)

4. Charles Schulz ($37 million)

5. Bob Marley ($17 million)