Gisele Bundchen has topped the Forbes list of the world's highest paid models.

According to, the Brazilian beauty earned $42 million thanks to her contracts with H&M, Chanel cosmetics and David Yurman.

The 32-year-old, who has recently launched her new underwear line called Gisele Bundchen Intimates, also has a lucrative stake in Brazilian footwear company, Grendene, as well as her own eco-friendly skin care brand called Sejja Pure Skincare.

Despite her huge salary, according to Forbes, Gisele earned less than last year when her earnings totalled $45 million, however this year will mark the seventh year the model has topped the list.

Coming in a not so close second place is Australian model Miranda Kerr whose earnings totalled $7.2 million this year. Kerr, who was number seven on last year’s list, has begun venturing into the world of business and has launched her own skincare line in Korea while also fronting campaigns for Mango, David Jones and Quantas.

Third on the list is Adriana Lima who made and impressive $6 million this year. The Brazilian super model has endorsements with brands such as Donna Karan and Miu Miu, however it is her work with lingerie giant Victoria’s Secret that is responsible for the majority of her earnings.

Despite falling two places from last year to number four, Kate Moss has shown yet again that aging models can continue to make money after bringing in $5.7 million this year. Kate has managed to maintain her longstanding contracts with brands such as Rimmel and Topshop while also expanding her client list to include The Carphone Warehouse and St Tropez.

The rest of the list includes China’s first major supermodel Liu Wen who comes in fifth place, Estee Lauder favourite Hilary Rhoda who comes in sixth, all-American model Carolyn Murphy who is in seventh place, newcomer Joan Smalls who is in eighth place, Victoria’s Secret Angel Candice Swanepoel who is ninth and Calvin Klein model Lara Stone who comes in tenth.