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American business magazine "Forbes" has announced that Russian President Vladimir Putin is most powerful person in world. He knocks US President Barack Obama from top spot. "Forbes" is well known for compiling annual lists comparing rich and famous. In its latest ranking, it asked: "Who’s more powerful: autocratic leader of former superpower or handcuffed commander-in-chief of most dominant country in world?" The magazine cites number of reasons why Obama lost his top ranking and has become "lame duck" president. These included recent "government shutdown mess," his foreign policy on Syria and ongoing spying and security leaks scandals.

Forbes wrote: "There are nearly 7.2 billion people on planet. These are 72 that matter the most." It added that its list is: " annual snapshot of heads of state, financiers, philanthropists and entrepreneurs who truly run world." It is put together by Forbes' editors, who have four "dimensions" to take into consideration. One is whether candidate has power over lots of people; second is financial resources at disposal or control of each person; third is to what degree person has power "in multiple spheres"; and finally, extent to which he or she "actively uses their power". These factors put U.N. Secretary-General 22 places behind CEO of retail giant Wal-Mart.