Forbes measured pre-tax earnings for the one-year period but didn't factor in deductions for fees for agents, managers and lawyers.
The prestigious U.S. business magazine said these short videos have made Ryan one of the most popular influencers online, with 17.3 million followers and a total of almost 26 billion views since he and his parents launched his main channel, Ryan ToysReview, in March 2015.
Ryan of Ryan ToysReview beat famous YouTubers including Jake and Logan Paul and Swedish gamer PewDiePie to top the list compiled by Forbes.
It's a seven-year-old chap and his hit YouTube toy review channel.
"I am entertaining and I am amusing", Ryan recently said in an NBC interview, explaining the popularity that has led him to become a mini-millionaire.
The Daily Mail reports that Ryan's videos have become so successful that he now even has his own line of toys.
However, both Ryan and Paul boast a similar number of 17 million followers.
Making YouTube videos is not a trend which has started now.
The amount generated by sponsored posts is small compared with other top YouTubers, Forbes writes. It is "the result not only of how few deals Ryan (or his family) chooses to accept, but also the fact that his pint-sized demographic isn't exactly all that flush".
The Ryan's World merchandise is now being sold at more than 2,500 Walmart stores around the US.
Widespread shaming apparently hasn't slowed down the notorious Felix Kjellberg, aka PewDiePie, who earned $15.5 million in 2018, up from $12 million the year before.
A video of Ryan visiting Walmart to look at his own product range has been viewed 14 million times.
All earnings estimates are calculated from June 1, 2017 through June 1, 2018.
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