Other finalists include Ted Cruz, Edward Snowden and Edith Windsor.
Obama beats out Marissa Mayer and Bill and Hillary Clinton
Undocumented Americans, President Obama and Malala Yousafzai also made the shortlist
Facebook founder edges Julian Assange and the Tea Party for magazine's honor
Eight time Grammy winner will be honored for her charitable work
Fed chairman gets honor; Usain Bolt fourth
Jack Black to host tribute to activist-rocker Neil Young as part of Grammy festivities