Forbes released its annual list of The World's 100 Most Powerful Women on Wednesday, May 28 and this year's ranking is topped by German Chancellor Angela Merkel. In the American political sphere, former first lady Hillary Clinton clocks in at No. 6 -- two spots ahead of current first lady Michelle Obama, The Hollywood Reporter said.

Of the media moguls, Oprah Winfrey beat out Anna Wintour, Bonnie Hammer and Arianna Huffington, while Sheryl Sandberg came out ahead of Marissa Mayer and Meg Whitman in the technology rankings.

The top female celebrity listed is Beyonce at No. 17, followed by Sofia Vergara, Ellen DeGeneres, Angelina Jolie, Shakira, Lady Gaga and Gisele Bundchen.

And in the business of fashion, Diane von Furstenberg, Miuccia Prada, Tory Burch and Sara Blakely are among those recognized.