The chart-topping star has been named the most influential celebrity on the photo-sharing website by D'Marie Analytics, with the firm estimating the $1 / R13,7 Million figure based on a range of factors, including number of followers, post reach and engagement.
Frank Spadafora, chief executive of D'Marie, said Beyonce's "limited" use of social media had boosted her earning power.
He told Moneyish: "Her limited release of exclusive, curated content ... causes such frenzy from her audience. These days, less really is more."
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Beyonce's popularity was evidenced earlier this year when she took to Instagram to announce she is expecting twins.
The post attracted 6,335,571 'likes' within eight hours and subsequently broke the record for the most-liked image on the website.
Beyonce's snap of her cradling her baby bump overtook the previous record of Selena Gomez, who achieved 6.6 million 'likes' from her 116 million followers in response to a picture of her sipping from a Coca-Cola bottle
A post shared by Selena Gomez (@selenagomez) on Jun 25, 2016 at 2:03pm PDT
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Selena has been named as the second-most influential celebrity on social media, with a post from the 24-year-old star estimated to be worth $775,000 each across Twitter, Instagram and Facebook.
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Despite this, Selena recently admitted her "addiction" to Instagram made her feel awful.
The brunette beauty explained that her infatuation with the photo-sharing website caused her to feel "like s**t" – even though she has so many followers.
The 'Hands to Myself' hitmaker said: "As soon as I became the most followed person on Instagram, I sort of freaked out. It had become so consuming to me. It's what I woke up to and went to sleep to.
"I was an addict, and it felt like I was seeing things I didn't want to see, like it was putting things in my head that I didn't want to care about. I always end up feeling like s**t when I look at Instagram. Which is why I'm kind of under the radar, ghosting it a bit."