According to Forbes Magazine, President of China, Xi Jinping is now the world’s most powerful person. The magazine says President Xi ascended to the top spot for the first time ever after China’s congress amended its constitution in March.
The Chinese leader unseated Russian president Vladimir Putin who held the number one position for the last four years.
el Sisi, heads the most populous Arab state in the world and presides over Africa’s second largest economy. In April he was elected to a second term after winning 97 percent of the vote. Although many inside and out of Egypt say the campaign was a sham. Many of el-Sisi’s main political challengers were either arrested or were pressured to withdraw from the contest.
Aliko Dangote’s net worth of $13.2 billion and position as head of Africa’s top cement producer helped cement his place on the list. In addition to owning nearly 90 percent of Dagonte Cement, he also owns large amounts of shares in sugar, salt and flour manufacturing companies.
Mr. Dangote also racing to finish a 650,000-barrel-a-day oil refinery near Lagos, set to be one of the world’s biggest, and says he intends to spend as much as $50 billion in the next decade on renewable energy and petrochemical refineries, including investments in the U.S. and Europe.
Forbes used four key factors in determining its list. First, the magazine asked whether candidates held power over large amounts of people. Not surprisingly, Forbes also took the amount of financial resources controlled by the candidate. Next, the magazine measured checked to see whether an individual has significant power and influence in multiple areas. Finally Forbes measures how the powerful actively use their power.
U.S. president Donald Trump fell one spot from second to third on Forbes’ annual ranking.
German Chancellor, Angela Merkel is in 4th place. She is the world’s most powerful woman.
Amazon CEO Jeff Bezos is 5th.
The complete list appears in the May 31st issue of Forbes Magazine.