The Irish mega-band, fronted by anti-poverty campaigner Bono, made the biggest slice of this year's megabucks payout from live performance.
In 2005 Bono became a leading player in the Make Poverty History campaign aimed at ending the massive wealth imbalance between the west and third world nations.
He said at the time: “I'm going to spend the rest of my life on this, I'm going to make that kind of extreme poverty history.”
Runner-up in the Forbes list were Bon Jovi who earned £77 million ($125 million) largely from their Circle Tour during last year.
Elton John was in third place grossing £61 million ($100 million) for various shows around the world and Lady Gaga was fourth earning £55 million ($90 million) last year.
The full list of Forbes Magazine's top 10 world's highest paid musicians in dollars:
1. U2 ($195 million)
2. Bon Jovi ($125 million)
3. Sir Elton John ($100 million)
4. Lady Gaga ($90 million)
5. Michael Buble ($70 million)
6. Sir Paul McCartney ($67 million)
7. The Black Eyed Peas ($61 million)
8. The Eagles ($60 million)
9. Justin Bieber ($53 million)
10. Dave Matthews Band ($51 million)