Gisele Bundchen has been named the highest earning model of 2007. This is the second consecutive year the Brazilian beauty has topped the list, compiled by Forbes.com.

The 27-year-old supermodel earned $35 million last year despite terminating her lucrative contract with Victoria's Secret lingerie company last May.

The figure was two million more than she earned in 2006 and over twice as much as Heidi Klum, the second highest earner, made in 2007.

Business-savvy Gisele reportedly insists on having her contracts paid in Euros, rather than dollars which has contributed to her massive earnings.

Kate Moss has dropped one place on the rich list to third position. Orlando Bloom’s girlfriend, Australian Miranda Kerr, is a new entry at number 10.