In recent years, value creation by means of Digital Twins (DT) has gained increasing popularity. The connection between virtual replicas and real objects is considered as a potential value driver, with implications for various sectors, including manufacturing, healthcare, and the building sector. Nevertheless, structured approaches for DT business model development remain scarce. Therefore, we have developed a taxonomy of DT-driven business models. Based on a systematic literature review of 28 relevant studies and the analysis of 22 real-world use cases, we identify seven meta-dimensions, 14 dimensions, and 58 characteristics. The resulting taxonomy provides a structured classification of the different development approaches and facilitates the systematic analysis of DT-driven business models. In addition, 21 business models are examined to demonstrate the usefulness of the taxonomy. Our taxonomy also shows how DTs can be integrated into business models as a key resource and provides a conceptual basis for future research.