Power is highly mutable. Take the world's two richest men, a couple of bridge-playing buddies named Bill and Warren.

They've been immensely wealthy for years, sure. But now, by combining their fortunes in a single philanthropic organization, they, along with Bill's wife, Melinda, just might wipe out deadly infectious diseases.

In part because of the ever-shifting value of influence in the business world, this year we decided to eliminate rankings from our annual study of the subject and instead provide, literally, snapshots of power: In the gallery that follows are 25 portraits, photographed by Albert Watson, of the characters who had the most impact on 2006. »»»
Warren Buffett; Bill and Melinda Gates Steve Jobs Larry Sonsini Henry Kravis Lakshmi Mittal
Ben Bernanke Henry Paulson Jr. Alden McDonald John Hueston, Sean Berkowitz, Kathy Ruemmler Hector Ruiz
Al Gore Eric Schmidt Steve Chen, Chad Hurley Katsuaki Watanabe Mark Hurd
Rupert Murdoch Chris DeWolfe, Tom Anderson Lee Scott Patricia Woertz John Thain
Bob Iger Eddie Lampert Steve Schwarzman Rex Tillerson Condoleezza Rice