Securing the tenth position is Gates, a 59-year-old serving as the Chairperson of the Bill & Melinda Gates Foundation.
Barra, the 61-year-old CEO of General Motors, holds the ninth position on the list.
At number eight, Johnson, aged 61, serves as the CEO of Fidelity Investments.
Fraser, a 56-year-old, holds the seventh position as the CEO of Citi Group.
Lynch, aged 59, holds the sixth position on the list as the President and Chief Executive Officer of CVS Health.
Taylor Swift, the 33-year-old American singer-songwriter, surged from 79th place to fifth, becoming the first entertainer to break into the top five.
Italian Prime Minister Giorgia Meloni, aged 46, secures the fourth position on the PALA power list.
Holding onto the third position, Vice President Kamala Harris, aged 59, remains a prominent figure in the United States.
At 67 years old, Lagarde serves as the President of the European Central Bank and holds the second position on the list.
For the second consecutive year, Ursula von der Leyen, the 65-year-old President of the European Commission, is recognized as the most powerful woman on the list.