Justin Bieber named youngest highest paid celebrity by Forbes

Canadian teen sensation Justin Bieber has been named the youngest highest paid celebrity in 2010, according to a report by Forbes.

While Lady Gaga has topped the list of last year’s highest paid celebrities below 30, the 17-year-old teen pop sensation came in second and is recorded as this year’s youngest artist to have contributed to the $690 million earnings of the stars between May 2010 and May 2011.

Records show that Bieber earned an estimated $53 million in the last 12 months. Looks like the teen sensation’s sleepless nights have paid off with his name coming out on top of the list of the top 20 young stars who had earned big over the past 12 months.