The Forbes list of the 100 Most Powerful Celebrities in the World ranks the top stars from the worlds of movies, TV, music, sports, books and modelling based on money and fame.
"Who runs the world In entertainment, it's Beyonce. The singer has climbed to the No 1 spot on the Forbes Celebrity 100 after an amazing year featuring a massive tour," the publication said.
Forbes said music is not the only reason for Beyonce reaping in millions of dollars. She has built a small business empire and earns millions endorsing companies like Pepsi and has a line of fragrances and clothing company.
The second spot on the list is occupied by American basketball player LeBron James, with earnings of USD 72 million. Winfrey comes in at the fourth spot and has earnings of USD 82 million. Beyonce's husband Jay Z is ranked sixth with his earnings of USD 60 million.
Last year's number one celebrity Winfrey fell to fourth place this year with an estimated USD 82 million in earnings. The talk show host's eponymous cable network, OWN, is finally turning around but the three celebrities ranked above her "just have more influence and power at this moment."
Rounding out the top five is another talk show host, Ellen DeGeneres, who earned USD 70 million in the last 12 months. The lady of daytime TV broke Internet records this year when she posted what has become the most famous 'selfie' of all time, taken at the Oscars in March.
The list also includes singer Rihanna who is ranked 8, director Steven Spielberg (11), tennis player Roger Federer (16), singer Lady Gaga (19), Woods (21), actor Leonardo DiCaprio (52), tennis star Maria Sharapova (63), actor and philanthropist Angelina Jolie (73) and reality TV celebrity Kim Kardashian (80).
Forbes estimated the earnings of the celebrities by talking to lawyers, producers and agents to figure out how much they earned from entertainment-related business in the past year. The publication also took into account how many times each celebrity was mentioned in print, on TV and radio.