Michael Jackson has been named the highest-earning dead celebrity of the year.

The estate of the late 'Thriller' singer, who died from acute Propofol intoxication in 2009, amassed $160 million in 12 months, as a result of the two successful Cirque du Soleil shows, 'Michael Jackson ONE' and 'Michael Jackson THE IMMORTAL World Tour,' based on his back catalogue of hits.

The earnings put him at the top of Forbes magazine's annual list of Top-Earning Dead Celebrities.

The King of Pop took the crown back from his close friend Dame Elizabeth Taylor, who slipped to fourth place as her estate earned $25 million.

According to the publication, Elvis Presley's estate brought in an estimated $55 million in posthumous earnings, putting him in second place.

Cartoonist Charles Schulz, who created the 'Peanuts' comic strip, moved up one spot to third place on the Forbes list - which analyses dead celebrities' earnings between June 2012 and June 2013 - after amassing $37 million.

Reggae star Bob Marley rounded out to top five with $18 million.

Others in the top 12 include Albert Einstein, Marilyn Monroe and Bruce Lee, as well as newcomer Jenni Rivera.

The estate of the late Mexican singer, who died in a plane crash in 2012, earned $7 million.

Full list of Forbes magazine's Top-Earning Dead Celebrities:

1. Michael Jackson ($160 million)

2. Elvis Presley ($55 million)

3. Charles Schulz ($37 million)

4. Dame Elizabeth Taylor ($25 million)

5. Bob Marley ($18 million)

6. Marilyn Monroe ($15 million)

7. John Lennon ($12 million)

8. Albert Einstein ($10 million)

9. Bettie Page ($10 million)

10. Theodor Geisel ($9 million)

11. Steve McQueen ($9 million)

12. Bruce Lee ($7 million)

12. Jenni Rivera ($7 million)

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