JK Rowling earns £3 million a week.
The 'Harry Potter' author's incredible earnings - equivalent to £5 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 £560 million 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 £2.1 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 to the Labour Party, the ruling political party of the UK.
Forbes magazine top 10 Biggest Earning Authors:
1 JK Rowling £160m
2 James Patterson £26.7m
3 Stephen King £24m
4 Tom Clancy £18.7m
5 Danielle Steel £16m
6= John Grisham £13m
6= Dean Koontz £13m
8 Ken Follett £10.6m
9 Janet Evanovich £9m
10 Nicholas Sparks £8.5m
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