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Study: Many Fortune 500 cos. paid $0 taxes

Regaining the title of the World’s Most Powerful Man on this year’s list is President Barack Obama , who gave up the top spot last year to China’s president Hu Jintao (#3). Despite his current political weakness, Obama remains the head-of-state of the world’s largest, most dynamic economy, commander-in-chief of the planet’s deadliest military and, unofficially, the leader of the free world. Moreover, Hu’s relativepower is decreasing ashe starts giving up important political offices, including general secretary of the Chinese Communist Party, to his successor Xi Jinping (#69).
In second place is Russian prime minister Vladimir Putin , who is poised toregain the Russian presidency this year from his loyal underling president Dmitry Medvedev (#59). German chancellor Angela Merkel ranks fourth and rounding out the top five is Bill Gates , co-chair of the world’s largest charity, chairman of Microsoft and America’s richest man.