Lady Gaga Officially Named Most Powerful Celebrity

In addition to the $90 million earnings she has accrued over the past 12 months, the 25-year-old was deemed particularly influential due to her millions of followers and fans on social networking sites twitter and Facebook.

A statement from the magazine said: "Lady Gaga tops our power list not just because of her $90 million in earnings, but also because of her 32 million Facebook fans and 10 million Twitter followers.

"Those fans helped move 1 million copies of her hit single, ‘Born This Way’, in just five days."

Meanwhile, Justin Bieber, Katy Perry and Natalie Portman were among the stars making their debut on the prestigious list at 3rd, 12th and 75th places respectively.

The spokesperson added: “If this were 10 years ago Bieber would still be paying his dues in small clubs and schools, but thanks to the Internet, he's a sensation. His first hit song, ‘Baby’, has been viewed 500 million times, a YouTube record.”

However, Britney Spears and ‘Harry Potter’ actor Daniel Radcliffe were among the notable names who didn’t make an entrance in the Forbes’ Celebrity Power List 2011, despite having appeared in recent years.

FORBES’ CELEBRITY POWER LIST 2011 TOP 20

1. Lady Gaga
2. Oprah Winfrey
3. Justin Bieber
4. U2
5. Sir Elton John
6. Tiger Woods
7. Taylor Swift
8. Bon Jovi
9. Simon Cowell
10. Lebron James
11. Angelina Jolie
12. Katy Perry
13. Johnny Depp
14. Kobe Bryant
15. Leonardo DiCaprio
16. Black Eyed Peas
17. Donald Trump
18. Dr. Phil McGraw
19. Tyler Perry
20. Sir Paul McCartney