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Gisele Bundchen
Gisele is believed to have made her million in earnings from merchandising partnerships which include a lingerie line and some accessory collections. Reuters

Gisele Bundchen has beaten Miranda Kerr to be crowned the world's highest-paid model for the seventh year running.

The Brazilian beauty led the way after racking up an impressive $42 million in earnings, according to Forbes.

The 32-year-old, who welcomed her second child with football player husband Tom Brady earlier this year, made her millions from merchandising partnerships which include a lingerie line and accessory collections.

Ventures into beauty care with her Sejaa company and endorsement deals contracts with Pantene, Oral-B and Sky HDTV also helped Gisele defeat Victoria's Secret models Kerr and Adriana Lima.

Kerr, who is married to actor Orlando Bloom, cashed in $ 7.2 million in earnings thanks largely to her work as a Victoria's Secret Angel, as well as her beauty product line Kora Organics and contracts with Mango, David Jones, Lipton and Qantas.

Fellow Angel Adriana Lima came in third place with an estimated $ 6 million in earnings. Her contract with the lingerie company and her deals with brands such as Miu Miu, Donna Karan, Mavi Jeans and Metrocity all contributed to her placing.

Style icon Kate Moss and rising Chinese supermodel Liu Wen completed the top five.

Forbes' highest-paid model list takes into account money earned from the models' editorial shoots, independent licensing ventures, spokesperson gigs and contracts from beauty and fashion companies from June 2012 to June 2013.

Forbes Highest-Paid Model of 2013 FULL LIST

1.Gisele Bündchen $42 million (income June 2012-June 13)

2.Miranda Kerr $7.2 million

3.Adriana Lima $6 million

4.Kate Moss $5.7 million

5.Liu Wen $4.3 million

6.Hilary Rhoda $4 million

7.Carolyn Murphy $3.6 million

8.Joan Smalls $3.5 million

9.Candice Swanepoel $3.3 million

10.Lara Stone $3.2 million