Gisele Bundchen has a lot to smile about. It's well known that the Brazillian model is the top earning model but Forbes predicts that she could be heading to set another record. According to their predictions, if she continues to earn as much as she is now she could become the world first billionaire supermodel as well as the first female self-made billionaire in Brazil.

Over the last 10 years she is alleged to have earned around $250million but her new ventures will dramatically increase her earning potential. Her new brand, Gisele Bundchen Brazillian Intimates, is expected to bring in an added $19 million per year; last year she founded Sejaa Pure Skincare, an eco-friendly cosmetics company which is owns entirely, which is set to generate a healthy return and she also rakes in a healthy sum, from her role as creative director of C&A's Gisele Bundchen collection. The model has also invested in a strong portfolio of real estate including a hotel in Southern Brazil.

Gisele Bundchen clearly picked up a thing or two while modeling for Victoria's Secret. Last week the former Angel took to the runway to model and launch her new line, Gisele Bundchen Intimates with Brazilian company Hope. The collection will be available in 2,000 retailers in Brazil only from May 25.

The move is hardly a surprise considering the model's penchant for business. Last week Forbes reported that she earned a whopping $45 million last year alone. Although little information has been released on the line, what the model has confirmed is that she will not appear in either the ads or look book for her line.

In the fashion industry, Anna Wintour is undoubtedly the most powerful figure, but it looks like the Vogue editor has a lot of competition in the general world. While Lady Gaga was ranked as the 7th most powerful woman in the world by Forbes, Wintour was placed at a surprising #56. Time magazine readers seem to agree, voting Lady Gaga higher in the influential stakes again.

However, it's not all bad. Wintour was the only magazine editor that appeared on the list, but was strangely considered less influential than Chelsea Handler, who came in at #33, Heidi Klum at #39, and Sarah Jessica Parker, who came 45th.

What do you think?

Whilst Mario Testino's highly anticipated book coming out this summer may be an ode to British supermodel Kate Moss - whom he met when she was just 14, crying backstage at a Galliano show after only getting one look - it was Brazilian supermodel Gisele Bundchen that he spoke of at the Museum of Fine Arts in Boston, where the Peruvian photographer gave a talk on subjects such as life, art, and portraiture.

Reminiscing of meeting his fellow South American, Testino recalls having to persuade many fashion editors to use Gisele. "It was, 'Uh, no, the nose, the waist, the breasts.' They saw problems everywhere" he reveals, proving that sometimes editors simply don't have an open minded view. According to Forbes, Gisele is now the highest paid model in the world, and lets face it - if there's something wrong with her nose, her waist, her breasts, then there's no hope for the rest of us. We're glad Mario Testino is not only one of the industry's most renowned photographers, but he can also spot a good model when he sees one, too.

Sorry to all the Michael Jackson-lovers out there, but the King of Pop has been financially bested by a fashion great. Sure, 'This is It' is cleaning up at the box office, and the film's companion album should become Jackson's sixth No. 1 next week. But it's Yves Saint Laurent who topped the Forbes list of the highest-earning dead celebs.

The French fashion legend, who died of brain cancer last June, earned $350 million in the past 12 months, largely thanks to his estate auction handled by Christie's this February. Jackson took in $90 million, which was only good enough for third, behind Richard Rodgers and Oscar Hammerstein ($235 million) but ahead of Elvis Presley ($65 million).

YSL always has been a favourite here at The Fash Pack, so we're pleased to see our designer guru being rewarded, posthumously or otherwise. But we'd better stop talking about all this, because we're still lusting over those cage booties - and we don't have an upcoming Christie's auction to make up for the cash we'd drop from our comparatively paltry paycheques.

Forbes has recently published its annual list of the most powerful magazine fashion editors and has given the top spot to none other than Anna Wintour. The list, which is compiled using a number of different sources including the number of times each editors name was found on Factura and Google, sees editors such as Marie Claire's Joanna Coles and Glamour's Cindi Leive, vying for first place.

Forbes has said that Wintour's movie debut in 'The September Issue' coupled with her appearance on David Letterman and the fact that she came up with, and is the face of Fashion's Night Out, were factors responsible for her winning the title back, having lost the title to Cindi Leive last year.

Whether No. 1 on the Forbes list or not, everyone knows that the clout Wintour wields and her ability to always be one step ahead of her peers, is likely to see her maintain her status as the most powerful fashion editor for years to come.

ELLE editor-in-chief Robbie Myers has everything to smile about. Not only has the magazine's circulation gone up after last years 'Stylista' and it's involvement with 'Project Runway', but also Forbes has announced that they have beaten American Vogue in advertising numbers.

So far in the first quarter of the year, ELLE beat Vogue by 14 pages, which is the first time this has ever happened. What effect this has, I'm sure will soon become apparent.