Forbes’ 2015 annual list of the World’s Most Powerful Women is out. The  participants ratings are based on money, media momentum, spheres of influence and impact  and are ranked in eight categories; technology, politics, business, finance, media, entertainment, philanthropy and billionaires.

The 2015 list of most powerful women includes eight heads of state, 15 billionaires and 24 CEOs. It also ranks celebrity role models and pioneer philanthropists.

The heads of state run nations with a combined GDP of $9.1 trillion with over 600 million citizens, while the corporate CEOs control nearly $1 trillion in annual.

American women dominated the list (59) with Asia-Pacific citizens coming in second (18). European produced 12 powerful women, four each from Latin America and the Middle East and three from African.

WHO IS THE MOST POWERFUL WOMAN IN THE WORLD?

German Chancellor Angela Merkel is listed as the world’s most powerful woman, topping the list for the fifth year in a row. She is followed by Hillary Clinton then Melinda Gates, Janet Yellen, Mary Barra, Christine Lagarde, Dilma Rousseff, Sheryl Sandberg, Susan Wojcicki and Michelle Obama respectively.

Oprah Winfrey is the top ranking billionaire on the list at No. 12.  Her personal net worth is $3 billion.

Beyonce Knowles takes the lead in the entertainment arena at No. 21.

Taylor Swift makes her first entrance in Forbes’ World’s Most Powerful Women list this (64).  At 25-years she is also the youngest. Forbes estimates her earnings in 2014 to be $81 million.

AFRICA’S MOST POWERFUL WOMEN

Nigerian produced two out of the three most powerful African women listed by Forbes. These are Ngozi Okonjo (48), the country’s  Minister of Finance, pictured above, and billionaire Folorunsho Alakija (87th).

Alakija is listed as the richest self-made woman in Africa and one of just two female billionaires on the continent.

Liberia’s president Ellen Johnson Sirleaf is ranked at position 96.