For the 20th year, the most powerful women of Hollywood came together Thursday to celebrate each other's achievements and milestones in the entertainment industry.

During the breakfast ceremony at the Beverly Hills Hotel, actress Jane Fonda and late filmmaker Laura Ziskin were honoured. The editorial director of the Hollywood Reporter Magazine Janice Min believes greatly that this list matters a great deal.

Comedian Chelsea Handler, who was 97th on the list, welcomed other guests, who included Nancy Grace, Bethenny Frankel, Kate Bosworth, Emmy Rossum and of course Kim Kardashian.

Sherry Lansing, the ex-chief of Paramount Pictures, hailed her friend Fonda for her decades of work in film, activism, fitness and philantrophy. The 73-year-old actress received the Sherry Lansing Leadership Award.

Lansing described the actress as someone who "led us artistically and made us question our lives politically."

In her speech, Fonda said the entertainment industry needs more female decision-makers.

Female leaders from younger generations were also present, like author of "The Help," Kathryn Stockett, and its stars, Octavia Spencer and Viola Davis.

The complete list of the Power 100 also includes everyone in the cast of 'Bridesmaids' ranking at 44th spot. The No. 1 spot goes to the co-chairwoman of Disney Media Networks, Anne Sweeney.

Check out photos during the event in the slideshow

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