Rival Lionel Messi (No. 2; $111 million), mixed martial artist and boxer, Conor McGregor (No. 4; 99 million) and footballer Neymar ($90 million) were the other three in the top five positions on the list.
According to Forbes, the earnings reported on the list include prize money, salaries, bonuses and endorsement incomes accrued between June 1, 2017 and June 1, 2018.
And by the way, in case you're wondering, to make the Forbes 100 cut, it was necessary to earn $22.9M, which is the amount generated by the last man on the list, Charlotte Hornets basketball player Nicolas Batum.
He earned a $275m (£205m) payday for his boxing match in August against UFC star Conor McGregor, who is number four on the U.S. business magazine's list.
The retired American boxer has taken top spot on the Forbes sports rich list for the fourth time in seven years.
NBA's top earner LeBron James banked $85.5 million, including endorsements, over the last 12 months to rank sixth among the highest-paid athletes.
Forbes noted that joining Williams on the list in some previous years were tennis players Li Na and Maria Sharapova. His estimated earnings, including endorsements, for 2017 were $285 million.
There were also no Australians represented in the top 100. The 100 top-paid athletes - coming from 23 different countries with an average age of 31 - earned a collective $3.8 billion over the past year, with 65 of those athletes hailing from the United States.
Lewis Hamilton remained the highest paid British sports star on the list in the 12th place, with earnings of $51m (£38.2m).
NBA stars lead with a record-topping 40 basketball players among the top 100.
The top 100 has an worldwide flavour with athletes from 22 countries, but Americans dominate the list with 66 making the cut thanks to sky-high salaries in baseball, basketball and football. However, that was about $5 million less than National Basketball Association player Nicolas Batum, who landed the 100th spot on the list.
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