Dr. Dre Is Forbes' 2012 Highest-Paid Musician

4:52 PM PST 11/29/2012 by Jason Lipshutz, Billboard

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The hip-hop mogul earned a reported $110 million thanks largely to selling a 51 percent stake in his Beats headphone company.

Dr. Dre has finished a 12-month period of robust headphone sales and resurrecting Tupac Shakur in hologram form as Forbes' highest-paid musician of the year. The hip-hop mogul reportedly earned an estimated $110 million during a scoring period that ran from May 2011 to May 2012.

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Along with catalog sales and payment for performances like his headlining set with Snoop Dogg at the Coachella fest, Dre hauled in $100 million pretax when HTC bought a 51 percent stake in his Beats headphone company last year, according to Forbes. Dre (nee Andre Young) takes the annual money crown from U2, who topped last year's list with $195 million earned, thanks to the band's record-shattering 360 tour. This year, the veteran rockers slip to No. 4, with $78 million over the 12-month period.

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This year's list top 5 is rounded out by former Pink Floyd frontman Roger Waters, who grossed $88 million this year due largely to his epic The Wall tour; Elton John, whose rigorous touring schedule helped him collect $80 million; and U.K. boy band Take That, whose reunion trek contributed to a $69 million sum.

Other notable on the 2012 Forbes list include 18-year-old Justin Bieber, whose music and merchandise sales totaled $55 million to help him become the youngest artist on the list; Lady Gaga, who slips to No. 13 on this year's list with $52 million earned after clocking in at No. 4 with $90 million last year; and Beyonce, who, with $40 million accrued, out-earned her husband Jay-Z ($38 million) at No. 18.

Dr. Dre's No. 1 ranking comes one month after he was named Forbes' hip-hop cash king in September. Diddy, Jay-Z and Kanye West were the only other hip-hop figures to make this year's overall list.

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Forbes' Top 25 Highest-Paid Musicians of 2012:

1. Dr. Dre ($110 million)

2. Roger Waters ($88 million)

3. Elton John ($80 million)

4. U2 ($78 million)

5. Take That ($69 million)

6. Bon Jovi ($60 million)

7. Britney Spears ($58 million)

8. Paul McCartney ($57 million)

8. Taylor Swift ($57 million)

10. Justin Bieber ($55 million)