Justin Bieber is the richest teenager in Hollywood, according to a ranking by People magazine.

Bieber, 17, raked in $53 million in 2010, thanks to his film "Never Say Never" and his fragrance, "Someday."

Miley Cyrus was a close second at $48 million, earning most of her money from touring.

The top 10 list, obtained by MTV, also includes "Twilight" star Taylor Lautner, and two pairs of siblings, Jaden and Willow Smith, and Dakota and Elle Fanning.

Bieber's earnings are not too far behind his elder counterparts.

To compare, Leonardo DiCaprio and Johnny Depp collected $75 million and $50 million, respectively, according to Forbes' annual list of top earning Hollywood actors. Angelina Jolie and Sarah Jessica Parker each made $30 million in 2010.

Scroll down for photos of the top 10 earning teenagers in Hollywood.

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Singer Justin Bieber
1. Justin Bieber, $53 million Reuters
Jaden Smith
7. Jaden Smith, $5 million Reuters
Selena Gomez
6. Selena Gomez, $5.5 million Reuters
Taylor Lautner
3. Taylor Lautner, $16 million Reuters
Miley Cyrus
2. Miley Cyrus, $48 million Reuters
Nick Jonas
4. Nick Jonas, $12.5 million REUTERS
Angus T. Jones
5. Angus T. Jones, $7.8 million REUTERS
Hollywood Justin Bieber Hollywood Justin Bieber