Hollywood director Steven Spielberg tops the charts with more than a staggering (US) $330 million for the year, while Ferrari's Schumacher – his annual take estimated at around the $60 million mark – is placed fifteenth.
On Forbes' ranking of 'celebrity power', meanwhile, 37-year-old Schumacher is situated just thirtieth, although he ranks sixth of the athletes, behind names including Muhammad Ali, Tiger Woods and Michael Jordan.
Intriguingly, the magazine also found that Schumacher is the highest paid athlete who is not sponsored by Nike.
In another publication, however, 'Sport Illustrated' said Schumacher topped its recent International Top-20 list, estimating the German's annual earnings at some $80 million.
He was trailed by Valentino Rossi, Ronaldinho, Maria Sharapova and David Beckham, although Tiger Woods topped the list of American athletes with a whopping $97.6m wage.