Australian billionaire Lang Walker AO has died at the age of 78.
The renowned property developer and philanthropist is understood to have spent his last days surrounded by family at his Woolloomooloo home, on Sydney Harbour.
He passed overnight with his wife, Sue, and three adult children – Blake, Chad and Georgia – by his side.
Mr Walker, who co-founded Walker Corp with his father Alec in 1964, had ten grandchildren.
It’s understood the 78-year-old’s health had been deteriorating for some time as he had multiple stints in hospital over the Christmas holidays.
In 2015 Mr Walker was awarded the Order of Australia, earning him the AO after his name, for his philanthropic efforts and service to the community.
He was a long-time supporter of the St Vincents Curran Foundation and gave to several medical and cancer research groups.
Australian billionaire property developer Lang Walker AO (pictured) passed away overnight at the age of 78
Mr Walker was also a donor to the Royal Children’s Hospital Foundation in Brisbane, the Young Endeavour Youth Scheme and the Sydney Children’s Hospital Foundation.
The businessman also provided support for Aussie sailors having helped the Australian Olympic sailing team, the Youth Sailing Academy and the Cruising Yacht Club, Sydney.
However, Mr Walker was best known as the visionary behind some of Australia’s most successful property developments, including the King St Wharf complex.
More recently, he helped develop Riverlea in Adelaide – the state’s largest masterplanned community worth $3billion.
Walker Co had originally specialised in earthmoving, excavation and quarrying before moving into residential property.
It later branched into the development of apartments, industrial parks and commercial centres.
A spokesperson for the Walker Corporation confirmed both his family and company would release statements on Sunday afternoon.
Mr Walker’s wealth was estimated to be over $5billion, according to the Australian Financial Review’s rich list last year.
