Michael Jackson has topped the list of the highest earning dead celebrities.The late king of pop has earned $140 million over the last 12 months according to Forbes magazine.
The high earnings is as a result of the release of his second posthumous album "Xscape" which topped billboard chart and also he appeared on a hologram form at this years Billboard music awards.

Second place is Elvis Preseley who died in 1977.
Check out the full list below as complied by Forbes Magazine:

2. Elvis Presley, $55 million
3. Charles Schulz, $40 million
4. Dame Elizabeth Taylor, $25 million
5. Bob Marley, $20 million
6. Marilyn Monroe, $17 million
7. John Lennon, $12 million
8. Albert Einstein, $11 million
9. Theodor Geisel, $9 million
9. Bruce Lee, $9 million
9. Steve McQueen,
$9 million 9. Bettie Page,
$9 million
9. James Dean,
$9 million

Source http://www.toniaodili.com/2014/10/michael-jackson-leads-forbes-highest.html?m=0