American tennis player Serena Williams has become the world's highest paid female athlete, overtaking Maria Sharapova, according to Forbes. Williams earned $28.9 million in prize money and off-field earnings over the past 12 months, overtaking Sharapova who had topped the list for the last 11 years. Williams was recently upset in the final of the French Open by Spaniard Garbine Muguruza.

Sharapova, who missed the French Open this year after being provisionally suspended for testing positive for the banned substance meldonium, slipped to second spot with $21.9 million. The third and fourth spots were held by mixed martial arts player Ronda Rousey and racing driver Danica Patrick.