Madonna has beaten Bruce Springsteen and Pink Floyd founder Roger Waters to be named the highest-paid musician in 2012 by trade publication Billboard. The 54-year-old singer has topped the annual rundown of the top money-makers for the second time in five years.

Take a look at who rounded out the Top 5.

1. Madonna - $34.6m
2. Bruce Springsteen - $33.4m
3. Roger Waters - $21m
4. Van Halen - $20m
5. Kenny Chesney - $19.1m