Kendall Jenner is now the highest-paid model in the world

Model Kendall Jenner walks the runway at the Michael Kors Spring 2017 Runway Show. (© ANGELA WEISS / AFP)

Kendall Jenner has a new accomplishment to add to her already impressive fashion resume -- she is now officially the highest-paid model in the world.

The social media star has raked in an impressive US$22 million over the past year, Forbes reports -- enough to see her take the title from Brazilian supermodel Gisele Bundchen, who had held the number one spot since 2002.

The news is perhaps unsurprising, given the number of big-name contracts Jenner currently holds, which include deals with beauty brand Estee Lauder, jewelry house Ippolita, sportswear giant Adidas and lingerie label La Perla.

Despite a highly-publicized backlash to a Pepsi commercial earlier this year, she has kept a high-profile, walking the runway for brands such as Fendi, Tom Ford and Alexander Wang, and landing two Vogue covers over the course of 2017.

However, according to Forbes, the model's income stream has been given a healthy boost by her extracurricular business activities, which include paid social media endorsements (she has more than 84 million followers on Instagram), a salary from the reality TV show "Keeping Up With the Kardashians," and the profits from the ‘Kendall + Kylie' fashion line she heads with her younger sister.

Meanwhile, Bundchen, 37, proved that she still has serious earning power despite slowing down her modeling career somewhat over the past few years.

Forbes reports that the fashion legend has made a cool $17.5 million over the last year, making her the second-highest paid model in the world. Model and TV presenter Chrissy Teigen came in at number three with earnings of $13.5 million, followed by Victoria's Secret Angel Adriana Lima, who garnered fourth place with a paycheck of $10.5 million. Fifth position was split between British model Rosie Huntington-Whiteley and US beauty Gigi Hadid, who both netted $9.5 million through their various business interests.

To see the full Forbes list of the world's highest-paid models, see www.forbes.com