Singer Toby Keith has been named the highest-paid country act of 2013 in a new Forbes magazine poll.

The Red Solo Cup hitmaker earned the top spot after raking in $65 million (£42 million) since June, 2012, according to editors at the finance magazine.

Keith amassed the sum thanks to the success of his last record, Hope on the Rocks, and its accompanying tour, as well as money grossed from his highly-popular U.S. restaurant chain, I Love This Bar & Grill, and his liquor range, Wild Shot.

Taylor Swift came in second place after taking in $55 million (£36 million) over the last 12 months thanks to her hit album Red, which shifted 1.2 million copies in its first week alone. She also has her own fragrance line and a number of endorsement deals with Sony, Diet Coke and Cover Girl.

Kenny Chesney was at three with $53 million (£34 million), Tim MCGraw landed at four with $33 million (£21 million), and former American Idol star Carrie Underwood followed closely behind with $31 million (£20 million).

Other big moneymakers on the list included Brad Paisley, the Zac Brown Band, Rascal Flatts and George Strait.