Michael Jackson regained the title of the highest earning dead celebrity in the past year, easily surpassing Elvis Presley and cartoonist Charles Schulz, Forbes magazine said on Wednesday.

After being pushed into se­cond place by Elizabeth Taylor last year, Jackson, who died in 2009, was back on top with estimated earnings of $160 million in the 12 months from October 2012 to 2013.

"He earned the bulk of his bucks from two Cirque du Soleil shows, his Mijac Music catalog, recorded music sales and his half of the Sony/ATV publishing empire - which includes the copyright to hits by the Beatles, Lady Gaga, Eminem and Taylor Swift, among others," Forbes said.

Presley was a distant second with $55 million, followed by Schulz, the creator of the Peanuts comic strip, who came in third for the second consecutive year with $37 million.

Taylor dropped to fourth place with earnings of $25 million, a huge dip from last year when her estate pulled in an estimated $210 million, with much of it from the auction of her jewels.

Forbes compiled the list by talking to estate managers, lawyers and licensors and estimating posthumous earnings.

Reuters