Russia president, Vladimir Putin dropped down one spot, holding on to the 2nd position on Forbes power list after President Xi bagged the top honours.
He was voted the world's most powerful person four times between 2013 and 2016.
This week Putin was re-elected Russia's President for a fourth term with nearly 77 per cent of the vote. For this Forbes said, "That's the largest margin of victory for any candidate for the office since the fall of the Soviet Union."
3. Donald Trump
The 45th President of US, Donald Trump holds the 3rd position on the Forbes power list.
The American magazine said Trump "has seen limited success pushing his agenda through a Congress controlled by his own party, is under investigation by multiple law enforcement agencies, and can't shake off scandals arising from his personal and business life - but he's still Commander-in-Chief of the world's greatest economic and military power."
4. Angela Merkel
The first woman Chancellor of Germany, Angela Merkel stands firmly at 4th position in the Forbes powerlist.
When the president of Germany Steinmeier swore-in Merkel as chancellor, appeared to say that her fourth term in power could yet prove to be her most challenging: “Let me give you my best wishes on your difficult path,” he said.
5. Jeff Bezos
The world's richest man, Amazon's chief, Jeff Bezos acquires the 5th position on the Forbes powerlist.
He owns 16% of e-commerce colossus Amazon, which he founded in a garage in Seattle in 1994.
7. Bill Gates
The founder of Microsoft, Bill Gates stands at 7th position in the Forbes powerlist.
Gates and his wife own the 'Bill and Melinda Gates Foundation' which is involved in philanthropic work worldwide especially in India in HIV eradication.
8. Mohammed bin Salman Al Saud
The Crown Prince of Saudi Arabia, Salman holds the 8th position in on the Forbes list.
Son of the king of Saudi Arabia, Salman has shrewdly stepped up efforts to reform Saudi society by empowering women.
Salman's 'anti-corruption campaign' in November last year led him to imprison several Saudi billionaires including his relatives.
9. Narendra Modi
Prime Minister of India, Narendra Modi acquires the 9th position on Forbes powerlist.
“Mr Modi has raised his profile as a global leader in recent years during official visits with US President Trump and Xi Jinping. He has also emerged as a key figure in the international effort to tackle climate change, as warming affects millions of his country’s rural citizens,” Forbes said.
Larry Page, co-founder of Google and ex-CEO of Alphabet gave $25 million to fight the deadly virus Ebola through his family foundation called the Carl Victor Page Fund in 2014.