Spanish golfer Jon Rahm finished second after switching to Saudi-backed LIV Golf.
His on-field earnings totaled $200 million (£158 million), while his off-field earnings were $60 million (£47 million) from endorsement deals that took use of his 629 million Instagram followers.
Rahm made $218 million (£172 million), joining Ronaldo as the only two athletes to earn more than $200 million.
Lionel Messi, the record eight-time Ballon d’Or winner, is third on the list, having relocated to Major League Soccer team Inter Miami, where he has earned $135 million (£107 million).
The 36-year-old earned $65 million (£51 million) on the pitch, but $70 million (£55 million) from partnerships with major sponsors such as Adidas.
