Beyonce Knowles and Shawn "Jay-Z" Carter have been named Forbes' Highest-Paid Couple of 2012.

The Hollywood power couple surpassed last year's winners Gisele Bundchen and her husband Tom Brady, after it was revealed that their combined annual income was $78 million.

Beyonce, 31, out-earned her husband of four years bringing home $40 million between May 1, 2011 and May 1, 2012, according to Forbes.

Jay-Z, arguably one of the most renowned hip hop moguls, took home $38 million during the same period, most of which was reportedly earned from his and Kanye West's "Watch the Throne" tour.

Beyonce, who gave birth to the couple's first child Blue Ivy in January, has not allowed motherhood to slow her career down. The Grammy award winning singer has worked on various projects in conjunction with her music career.

Her endorsements include a deal with L'Oreal cosmetics, and she continues to expand her acting career. In 2011 it was confirmed that she would appear in the remake of "A Star Is Born," a film directed by Clint Eastwood for Warner Bros.

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On Friday it was revealed that she is currently shopping a nonfiction documentary film about her busy life to Hollywood studios. The first time Mom, who is rumored to be expecting her second child, has not only directed but also produced the film which is said to encompass her music, personal study, concert footage and also features a confessional interview.

The film gives viewers a behind the scenes look at the 30-year-old's life as one of the world's most renowned superstars, as well as her role as a business mogul, wife and mother, according to the Huffington Post.

Jay-Z, 42, has also been busy working on upcoming projects including a follow up album to his 2009 "The Blueprint 3" as well as non-musical business deals with cosmetics company Carol's Daughter.

Second on Forbes' list was Bundchen and Brady, who earned a combined $72 million. Third was English couple David and Victoria Beckham who took home a total of $54 million.