Forbes announced the list of celebrities under the age of 30 that have raked in some serious cash between May 2011 and May 2012. Females appeared to dominate the list, and only one male snagged the Top 5 spot. Forbes calculated the stars' earnings by taking into account album and concert sales, movie gigs, endorsement and ad works and profit participation.

Here is the Top Forbes List of celebs under 30:

#5: Katy Perry

Age: 27

$45 million

Perry made it to the top 5 of the list through a combination of strong album and single sales and $60 million in grosses from her California Dreams Tour. Her most recent film, "Katy Perry: Part of Me" did not do so well, but she has had as many hit singles off of one album as the late Michael Jackson, so that puts her in very good standing.

#4: Lady Gaga

Age: 26

$52 million

Famously known for her unique sounding music and interesting sense in fashion, Gaga topped Forbes' under-30 list last year. However, she dropped significantly from the $90 million she earned, primarily because Forbes' time frame ended before the singer began her latest world tour, which is selling out shows in Eastern Europe.

#3: Rihanna

Age: 24

$53 million

Much of Rihanna's earning is a result of her 85-show world tour and sales from the Talk That Talk album. She also gets paid through endorsement deals with Vita Coco coconut water and Nivea lotion and received millions more via her Reb'l Fleur fragrance.

This is Rihanna's first year making Forbes' celebrity 100 List, and she ranked fourth place.

#2: Justin Bieber

Age: 18

$55 million

Bieber is the only male in the top five, but don't let his young age fool you. His album sales and concerts have been huge hits, but he has also become quite the entrepreneur. He has made investments in numerous tech start0ups including Spotify, Enflick, Tinychat and Stamped.

#1: Taylor Swift

Age: 22

$57 million

This 22-year-old can be counted on to sell millions of albums-four times platinum, at least. A majority of her earnings is derived from her sold-out concerts, which take in an average of $1 million per night, as well as her endorsement work for CoverGirl makeup.

The rest of the top 10 are as followed:

Adele ($35 million)

Kristen Stewart ($34.5 million)

Lil Wayne ($27 million)

Taylor Lautner ($26.5 million)

Robert Pattinson ($26.5 million).