Well talking of this topic is really interesting as this is referred by most of the webmasters as the most exciting turnover that has happened in the history of worldwideweb.

Let me ask you some questions first:-

what would you do with money,if your blog/Website generated a revenue say a million dollars ?

would you give up your regular job ?

what would you like to expend your money mostly on?

well lets leave these questions for you to answer for yourself as this such a question which even the most stable webmasters find hard to answer.
Highest earning websites/blogs as of today:-

BoingBoing

This website is the brainchild of Mark Frauenfelder,Mark is a columnist and a demonstrator.He has been the columnist for playboy magazine column “living online” for three years.This blog was first published in January of the year 2000.Since then this website has made a huge progress and today is the highest earning website in the www world.Daily 30-40 new articles are published in this website .These articles are written by four writers who work for Mark.Annual revenue from this website is more than one million dollars.To display a button advertisement in this blog for a week it costs around $350.It has about a 2.6 million unique visitors per month.

ShoeMoney
The father of this websi

te is Jeremy Schoemaker.Jeremy is a elegant looking man with clean shaved head.This site earns around $240,000 per year.This blog is about 4 years old.This website makes money by supplying people information on which it itself makes money.

Talkingpointsmemo.com
John Marshall who was previously a political journalist,turned into a professional blogger and author of this blog and of course is the owner too.Annual revenue from this blog is around $640,000 with about 100,0000 unique visitors every fortnight.This blog is all about politics.

perezhilton.com

Mario Lavandeira the owner of this blog writes mostly about celebrities on his blog and has become a celebrity himself,as a matter of fact he was a jury in the selection committee of Miss America contest 2009.This blog also came into existence around five years back from now.This blog makes around 1,32 million dollars annually.
Daily update with around 20 fresh posts about celebrity brings this blog about 4 million unique visitors every day.displaying a banner ad for one day in this website costs around $13,000.

Gothamist

Jake Dobkin the godfather of this blog launched it on the january of 2003.This blog mainly contains aricles on 7 major cities of this planet and written by a couple of paid writers.This blogs annual revenue is around $600,000,with 7 million unique visitors every month.

TechCrunch

Michael Arrington the owner of this blog made this blog public on the June of 2005.Since then this blog has made an awesome progress ,of which even Michael himself would probably have not thought.Annual revenue from this blog is $2.4 million with with approximately 5 million page views every each month.It costs $300 to display small button and $1000 to display a small banner for a week.This blog is updated daily and caters information about technology.

Mashable

Pete Cashmore the creator of this blog says blogging is really tough job as bloggers rarely get a good sleep ,due to the workload(i personally think Pete is a exception).
This blog was first made public in july of 2005 a month after the launch of Techcrunch.Annual revenue of this blog is around $1,92 million with about 1.25 million page views every 10 days.Pete takes $100 for a small button and $2000 for a banner per week.

Problogger

Darren Rowse is the owner of this blog and what he basically did in the earlier days of this blog(launched November 2004),was that he invited bloggers to write on his blog and many if them even made full use of it and now are well known bloggers.This blog delivers information on how to use the worldwideweb to make money.Monthly unique visitors is 1.5 million and annual revenue is $100,000.

In the end i would like to tell you folks out their that please make use of it while you have the time and enjoy success while you become famous,write authentic,and respect what you’re earning from and respect what others have achieved.