Williams, who will try to equal Margaret Court's record of 24 grand slam titles when she competes at the Aug. 27-Sept. 9 U.S. Open in New York, earned twice as much off the court as any other female athlete, according to Forbes.
Dane Caroline Wozniacki, who captured her maiden grand slam title at this year's Australian Open, was second on the list with combined earnings of ($13 million) while reigning U.S. Open champion Sloane Stephens ($11.2 million) was third.
Spaniard Garbine Muguruza ($11 million) and Russian Maria Sharapova ($10.5 million) rounded out the top five.
Indian badminton player P.V. Sindhu ($8.5 million) and retired race car driver Danica Patrick ($7.5 million) were the only non-tennis players to crack the top 10, filling up the seventh and ninth spots, respectively.
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In June, Forbes issued a ranking of the world's 100 highest-paid athletes and it did not feature a woman.
Serena Williams, who was the only woman on the list the previous year, dropped out of the chart while taking time off to have a baby.
(Reporting by Frank Pingue in Toronto; Editing by Ian Ransom)
