MJ beats Elvis, named Forbes' highest earning dead celebrity

The King of Pop beats the likes of Elvis Presley, Charles Schultz, Elizabeth Taylor and Bob Marley to become the highest-earning dead celebrity with earnings of upto $160 million in the past year, according to Forbes magazine.

Michael Jackson has been named as the highest-earning dead celebrity in the past year by Forbes.

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According to the magazine, the King of Pop, who died from acute Propofol intoxication in 2009, surpassed Elvis Presley and cartoonist Charles Schulz, Stuff.co.nz reported.

The late singer reclaimed the top spot, with estimated earnings of 160 million dollars in the 12 months from October 2012 to 2013, from his old friend Elizabeth Taylor who passed away back in 2011.

The top 10 highest-earning dead celebrities are:

1. Michael Jackson- 160 million dollars

2. Elvis Presley- 55 million dollars

3. Charles Schultz- 37 million dollars

4. Elizabeth Taylor- 25 million dollars

5. Bob Marley- 18 million dollars

6. Marilyn Monroe- 15 million dollars

7. John Lennon- 12 million dollars

8. Albert Einstein- 10 million dollars

9. Bettie Page- 10 million dollars

10. Theodor Geisel (Dr. Seuss)- 9 million dollars