Her global tour has grossed more than $350 million from 88 soldout shows before audiences of 2.2 million.
This isn't the first such honor for the pop icon. Madonna holds the record for the top 10 singles on the Billboard Hot 100 and also No. 1 hits on the Dance Club Songs chart.
She also had 20 top 10 albums on the Billboard 200 and 56 Hot 100 Hits.
The Billboard Music Awards will air live on ABC7 from the MGM Grand Garden Arena in Las Vegas on Sunday, May 19 at 8 p.m. ET.