For the second year in a row, European Commission President Ursula von der Leyen has been named the world’s most powerful woman.
The German politician finished ahead of European Central Bank President Christine Lagarde, US Vice President Kamala Harris, and Italian Prime Minister Giorgia Meloni, who finished fourth.
According to Forbes, Von der Leyen, 65, is the first woman to serve in the office, “which is responsible for legislation affecting more than 450 million Europeans.”
Taylor Swift came in fifth position, earning $850 million (£673 million) from her record-breaking Eras world tour, according to the US Travel Association.
In the process, the singer, 33, became a billionaire and contributed $5 billion (£4 billion) to the treasuries of US states.
Swift, who rose from 79th last year, finished far ahead of the next singer on the list, Beyonce, who was 36th, and Rihanna, who was 76th.
Oprah Winfrey, the former talk show host turned media mogul, finished 31st.
Philanthropist Melinda Gates is ranked tenth, with GlaxoSmithKlein CEO Emma Walmsley ranking fifteenth.
Ms Walmsley was appointed as the first woman to lead a major pharmaceutical business in 2017.
The next highest is Aviva CEO Amanda Blanc, in 40th.
The list’s composition reflects what Forbes describes as a “complex picture of women’s influence in a volatile world.”
“Political leaders Sanna Marin, Jacinda Ardern, and Nicola Sturgeon either lost or relinquished their jobs overseeing Finland, New Zealand, and Scotland,” the US publisher stated earlier this year.
“Susan Wojcicki stepped down as YouTube CEO after nine years at the helm.
“So did Martina Merz, the chief executive of German conglomerate Thyssenkrupp.
“Every one of them was replaced by a man,” Forbes said.