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Last Updated: Friday October 03 2008 10:50 GMT

JK is world's highest paid author

JK Rowling

JK Rowling is going to need a bigger vault at Gringotts soon, after she was named the world's best-paid author.

The creator of Harry Potter earned 170m last year, which means she banked 5 every single second!

The final book in the Harry Potter series, The Deathly Hallows, came out in 2007 and sold 15 million copies in the first 24 hours it was on sale.

So far the Potter books have sold more than 400 million copies and been translated into 67 languages.

A US business magazine came up with the figures, and it said the Potter films based on her books have also been raking in the cash, earning around 2.5bn.