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Michael Jackson’s drawing power in death leaped off the charts, vaulting him to the top of Forbes’ latest list of the top-earning deceased celebrities.

The magazine says The Gloved One’s estate grossed $275 million between Oct. 1, 2009 and Oct. 1, 2010.

It was, Forbes says, more than the other dozen dead stars on the list combined – and more than the combined earnings of the biggest living acts, U2 and AC/DC.

The complete list, with into taken directly from Forbes:

1) Michael Jackson, $275 million

The King of Pop passed away last summer, but he’s made more money over the past year than any musician, dead or alive. His $275 million total was greater than the earnings of the two most profitable living acts, U2 and AC/DC, combined. Jackson’s posthumous earnings have been bolstered by shrewd negotiations by his estate, including a merchandising deal and the rights to his name and likeness for the Sony film This Is It, which grossed over a quarter of a billion dollars.

2) Elvis Presley, $60 million

The King of Rock ‘n’ Roll’s income ballooned to $60 million, up $5 million from last year, thanks to Graceland admissions and the Elvis Presley Cirque du Soleil spectacular launched in Las Vegas earlier this year. His portfolio of more than 200 licensing and merchandise deals got a nice boost from the late star’s 75th birthday celebration. Among the commemorative events: Graceland exhibits, touring tribute concerts and an Elvis-themed cruise to the Bahamas.

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