Apple co-founder and chief executive Steve Jobs has been named the most powerful person in business for 2007, according to a list compiled by Fortune Magazine, for his vast influence across the computer, music, wireless, television and movie industries.

The magazine notes that Jobs “twice altered the direction of the computer industry,” by kicking-off the PC era with the Apple II and later introducing the graphical user interface. He also popularized desktop publishing with the introduction of the Apple LaserWriter in 1985. Most recently, Jobs has found success in his forays into the entertainment industry with the introduction of iPod and iTunes, as well as in the animation industry with Pixar.

Jobs is followed by Media mogul Rupert Murdoch at number 2. Other IT-related people joining the list include Google's Eric Schmidt, Larry Page and Sergei Brin, Bill Gates and HP's chairman and CEO, Mark Hurd. Check out the rest of Fortune’s listing here.