Angelina Jolie has toppled Oprah Winfrey and become the world’s most powerful celebrity, based on a combination of earning power and media exposure, according to Forbes magazine.

Jolie took Forbes’ 2009 number 1 spot moving Oprah to second place after holding the number 1 position for two years in a row.

The 33-year-old Hollywood actress and mother of six children earned $27 million between June 2008 and June 2009.

In addition to nearly doubling her earnings in the past year, Angelina Jolie is the most famous star on the planet. She is in the dialogue of popular culture nearly every day - for her acting, for her relationship with Brad Pitt, for her children and for her philanthropic endeavors. All of this exposure leads to an extremely powerful celebrity brand, said Forbes.

Talk show queen was still the lists top earner after raking in $275 million in the past twelve months.

Others in the top five were; pop icon Madonna ($110 million), singer Beyoncé Knowles ($87 million) and golfer Tiger Woods ($110 million).

The top earners list was dominated by women. Tiger Woods is the highest ranked male celebrity, in fifth place. According to the magazine, the golfer remains the highest-paid sports star in the world. Bruce Springsteen, who will headline the Glastonbury Festival later this month, director Steven Spielberg and basketball player Kobe Bryant complete the top 10.

President Barack Obama took the 49th spot making him the first head of state to appear on the list which has been published annually since 1999.

The earnings estimates consist of pre-tax income between June 2008 and June 2009. Management, agent and attorney fees are not deducted.

The cumulative earnings of the 2009 list totaled $4.1 billion, up slightly from last year's $4 billion haul.

2009 Most powerful celebrities top 10 list:

1 Angelina Jolie ($27 million)

2 Oprah Winfrey ($275 million)

3 Madonna ($110 million)

4 Beyonce Knowles ($87 million)

5 Tiger Woods ($110 million)

6 Bruce Springsteen ($70 million)

7 Steven Spielberg ($150 million)

8 Jennifer Aniston ($25 million)

9 Brad Pitt ($28 million)

10 Kobe Bryant ($45 million)