Teen pop sensation Miley Cyrus, also known as Hannah Montana from Disney Channel's wildly popular series with the same name, is so rich she could retire right now and live the rest of her life with the money she made so far.

According to People magazine, the 15-year-old singer/actress, who is already richer than her father, country music singer Billy Ray Cyrus, will likely become a billionaire by the end of the year.

Topping the magazine's list of the richest teen celebrities, Miley took home approximately $17 million last year alone from her sold-out tours, about $1 million a week from the estimated $50 million in tour grosses. Her 3-D concert film "Hannah Montana & Miley Cyrus: Best of Both Worlds Concert Tour" comprising concert footage and behind-the-scene clips from the tour, raked in $29 million from tickets sold during its release weekend.

"Kids are earning more and more and can command huge fees in Hollywood, but no one could have predicted how popular Miley would be. She's a true star," a Disney spokesman said.

However, despite her fortune, Miley still gets a $300 monthly allowance from her dad, while her mother Trish insisted that she refused to let her daughter’s fortune go to her head.

"A lot goes into her (investment fund), which she can’t get until she’s 18," Trish told People. "At the end of the day she doesn’t have much left."

Other kids who made the cut are Miley’ tour buddies, the ever-popular Jonas Brothers, who brought in $12 million last year from album sales and concert tickets. The hunky sibs, Nick, 15, Joe, 18, and Kevin , 20, hardly spent any of it, except some new computers and some presents for their parents.

14-year-old actress Dakota Fanning makes $4 million a movie while 12-year-old "Little Miss Sunshine" Oscar nominee Abigail Breslin makes $2 million a film, yet she still has to live on an allowance of $11 a week, whereas Mark Indelicato, 13, makes nearly $500,000 for a season of "Ugly Betty," but he has an allowance of $50 a week.