Apart from heads of states, businessmen, artists and philanthropists, the list also features criminals and dons.
Indian-origin steel baron, Lakshmi N Mittal who is the chairman of ArcelorMittal has claimed 55th rank.
Among the criminals, underworld don Dawood Ibrahim, al-Qaeda chief Osama Bin Laden and the Mexican drug trafficker Jaoquin Guzman figure in the list.
While Dawood, India's most wanted criminal has been ranked at no. 50, the world's dreaded terrorist is ranked at 37. And Guzman has been placed in the 41st place.
Microsoft co-founder Bill Gates, investor Warren Buffett, and Apple chief Steve Jobs were among the others listed.
Forbes said that its first The World's Most Powerful People' list was compiled based on four major criteria including, number of people that a person influences; the person's ability to project power; financial resources that the person controls and up to what extent the person wields his/her power.