obamaforbes.jpg Forbes Magazine has released their Most Powerful Women In The World list, and First Lady Michelle Obama has earned the number one spot.

Irene Rosenfeld, CEO of Kraft Foods was ranked number two, while Oprah Winfrey came in at number three. Secretary of State Hillary Clinton is the fifth most powerful woman in the world, but Hollywood got it's fair share of recognition as well -- Lady Gaga snagged the seventh place spot, Beyonce came in at number nine, and Oscar winner/UN ambassador Angelina Jolie snagged the number 21 spot.

Interestingly enough, Sarah Palin came in at number 16, so even though she's received all sorts of flack since her bid for Vice President, it looks like she's here to stay...

Click here for the complete list!