Oprah, Obama and Time's Most Influential!

First Lady Michelle Obama was a keynote speaker at last night's Time Magazine's100 Most Influential gala -- and all eyes were on her as she addressed the star-studded crowd.

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"There are few times in history when the saying, 'we're all in this together' would be more applicable than right now," Michelle told the guests. Later, Lady O chatted it up with Oprah, who was of course also on the list.

John Legend also made the cut -- and told "Extra" he couldn't believe he was being honored next to such powerful people. "It's kind of crazy -- on the magazine cover I'm in the same row as Obama and Oprah. I'm not nearly as influential as either of them."

Michelle also made waves with her fabulous fashion choices. During the dinner, the First Lady donned an Azzedine Alaia gown, but decided to shop in her closet for her afternoon trip to the U.N., recycling a Tracy Feith number -- a move which Mandi Norwood, author of "Michelle Style: Celebrating the First Lady of Fashion," calls stylish and economical! "It's a very fashionable thing to do... and it's a very smart and savvy thing to do in a recession."

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