New York - Angst-ridden grunge rocker Kurt Cobain has pushed Elvis into second place in a list of highest-earning dead celebrities, with the late Nirvana frontman raking in $50m in the past year.

The Forbes.com website ranks 13 celebrities pushing up daisies on their income and proves that death need not be an obstacle to making money, with the group collectively earning $247m in the last year.

Peanuts creator Charles Schulz, whose cartoons are syndicated in thousands of newspapers worldwide, came third after earning $35m, ahead of John Lennon with $24m and Albert Einstein with $20m.

Another cartoonist, creator of the Dr Seuss series Theodor Geisel, ranks seventh, one place behind Andy Warhol but ahead of Ray Charles and Marilyn Monroe, whose likeness continues to pay more than 40 years after her death.

While Elvis, who has been dead for almost 30 years, slipped to number two in the list for the first time since 2001, his estate still managed to earn $42m in the past 12 months.

JRR Tolkein, the creator of the Lord of the Rings epic, slid three places since last year, but the success of the film trilogy, DVD sales and offshoot merchandise have continued to make a killing for the English writer.

Success of the Johnny Cash biopic Walk the Line helped the Man in Black avoid going into the red, pulling in eight million dollars for his heirs, while late Beatles guitarist George Harrison and reggae legend Bob Marley both earned some seven million dollars, mostly through CD sales and royalties.