Michael Schumacher has been pipped at the post in the race to be the world's richest sportsman.

According to the Sunday Times' annual listings, the seven time world champion's (US) $823 million in career earnings is beaten only by golf legend Tiger Woods.

American Woods has earned $869 million in his own ultra-successful career, the newspaper found.

And the Sunday Times said the pair have each earned hundreds of millions of dollars more than other high-earning sportsmen, including Michael Jordan ($516m), Roger Federer ($316m) and David Beckham ($258m).

F1's two other representatives, Fernando Alonso and Kimi Raikkonen, were way down the top-twenty list, with their respective earnings at about $161 million apiece.

McLaren's world champions Lewis Hamilton ($89m) and Jenson Button ($85m), meanwhile, appear only on the list for British sportsmen, and they are both outpaced by the $129m earned by former Ferrari driver Eddie Irvine mainly through property investment.

However, Hamilton and Button have each earned more in their careers than David Coulthard, Nigel Mansell, former BAR boss David Richards (all $80m) and Sir Jackie Stewart ($67m).

Those earnings, however, are all dwarfed by Bernie Ecclestone's estimated $4 billion, although the 81-year-old F1 chief executive does not appear at all on the list of the world's richest overall.

That list is headed by mega-earners like Sauber sponsor Carlos Slim, who according to the Sunday Times is worth $71 billion.