Rock 'n' roll legend Elvis Presley ceded his crown to Nirvana lead singer Kurt Cobain on Forbes.com's list as the top-earning dead celebrity.

The list, published on Tuesday, said grunge rocker Cobain earned $50 million between October 2005 and October 2006. Presley wound up in the No. 2 slot with $42 million, down from last year's $45 million.

Forbes.com bases its dollar amounts on licensing deals for using the deceased celebrities' work or image in advertising or elsewhere.

Rounding out the top five were Beatle John Lennon at $24 million and groundbreaking physicist Albert Einstein at $20 million, whose estate profited from such licensing deals as the popular "Baby Einstein" educational videos.

Other celebrities on the list include Theodore Geisel, better known as children's book author Dr. Seuss; rhythm & blues pioneer Ray Charles, silver screen legend Marilyn Monroe and reggae superstar Bob Marley.