JK Rowling Tops Forbes' Top 10 Biggest Earning Authors With $238M

October 3, 2008 - JK Rowling and Stephen King

JK Rowling earns $5 million a week. The "Harry Potter" author's incredible earnings - equivalent to $8 a second - are from the 375 million sales of the seven books in the popular children's series, a percentage of revenue from the movie adaptations and spin-off merchandise, including toys and video games, according to financial bible Forbes.

JK - real first name Joanne - is believed to be worth around $1 billion and is expected to see her earnings soar even further, with three more "Harry Potter" movies scheduled for release.

Forbes spokesperson Lacey Rose said: ""It was wizardry that transformed JK Rowling from a destitute single mother on welfare into a super-rich success.

"On the big screen, her 'Potter' franchise has already generated $4 billion at the worldwide box office - and she still has three flicks to go."

After completing the "Harry Potter" series, the author - who earned more than the other writers in the top 10 put together - devotes most of her time to charity work, including the Children's High Level Group, which she founded.

Last month, she donated £1 million [approximately $1.8 million] to the Labor Party, the ruling political party of the U.K.

Forbes magazine top 10 Biggest Earning Authors:

1 JK Rowling £160 million [$283 million]

2 James Patterson £26.7 million [$47 million]

3 Stephen King £24 million [$42 million]

4 Tom Clancy £18.7 million [$33 million]

5 Danielle Steel £16 million [$28 million]

6= John Grisham £13 million [$23 million]

6= Dean Koontz £13 million [$23 million]

8 Ken Follett £10.6 million [$18.7 million]

9 Janet Evanovich £9 million [$16 million]

10 Nicholas Sparks £8.5 million [$15 million]