Steven Paul Jobs, co-founder, chairman and former chief executive of Apple Inc., has passed away.?He was 56. [File photo]

Apple co-founder and longtime Chief Executive Officer Steve Jobs passed away on Wednesday. He was 56.

"Steve died peacefully today surrounded by his family," Jobs' family said in a statement.

"We are grateful for the support and kindness of those who share our feelings for Steve. We know many of you will mourn with us, and we ask that you respect our privacy during our time of grief," said the statement.

Apple's website has changed to "Steve Jobs: 1955-2011," along with the most iconic picture in which the scraggly bearded charismatic visionary posed with one hand up to his chin.

"Apple has lost a visionary and creative genius, and the world has lost an amazing human being," the company said in a statement. "Those of us who have been fortunate enough to know and work with Steve have lost a dear friend and an inspiring mentor. Steve leaves behind a company that only he could have built and this spirit will forever be the foundation of Apple."

Apple Board of Directors also said in a statement that "Steve's brilliance, passion and energy were the source of countless innovations that enrich and improve all of our lives. The world is immeasurably better because of Steve."

According to a memo sent by CEO Tim Cook, Apple is planning a celebration of Jobs' life for employees that will take place soon.

Jobs took a medical leave of absence earlier this year, the third in his battle with pancreatic cancer that began in 2004. On Aug. 24, he stepped down as Apple CEO, saying "I have always said if there ever came a day when I could no longer meet my duties and expectations as Apple's CEO, I would be the first to let you know. Unfortunately, that day has come."

Jobs recommended former CEO Tim Cook take his place as CEO. On Tuesday, Cook gave his first product announcement as CEO unveiling the new iPhone 4S.

Jobs introduced the colorful iMac computer, the iPod and the iPhone to the world. His death came just a day after Apple unveiled its latest iPhone 4S model. Apple – whose market value is estimated at US$351 billion – is now the world's most valuable technology company. As the face of Apple, Jobs represented its dedication to high-end technology and fashionable design.

Microsoft chairman Bill Gates said: "The world rarely sees someone who has had the profound impact Steve has had, the effects of which will be felt for many generations to come… For those of us lucky enough to get to work with him, it's been an insanely great honor. I will miss Steve immensely."

U.S. President Barack Obama also paid tribute: "Michelle and I are saddened to learn of the passing of Steve Jobs. Steve was among the greatest of American innovators – brave enough to think differently, bold enough to believe he could change the world, and talented enough to do it."