PHOTO: A billionaire who built a property empire across Australia has died overnight, surrounded by family. OCEAN MEDIA
Property developer and philanthropist Lang Walker AO passed away overnight at the age of 78.
The Australian billionaire spent his final moments surrounded by his family at his residence in Woolloomooloo, located in Sydney‘s north shore.
He is survived by his wife Sue, with their three adult children, Blake, Chad, and Georgia, by his side. Mr. Walker also leaves behind ten grandchildren.
In 1964, Mr. Walker, along with his father Alec, founded the precursor to the Walker Corporation, originally focusing on earthmoving, excavation, and quarrying. The company later transitioned to residential property development, rebranding from A&L Walker to Walker Corporation in 1973. Over time, it expanded into the development of apartments, industrial parks, and commercial centers.
Mr Walker died at home surrounded by family. Photographer: Bryan van der Beek/Bloomberg via Getty Images
A spokesperson for the Walker Corporation confirmed that both the family and the company would release statements on Sunday afternoon.
Friends informed the Daily Telegraph that the health of the property tycoon had been declining, and Mr. Lang had experienced periods of hospitalization over the Christmas season.
According to last year’s Australian Financial Review rich list, Mr. Walker’s wealth was estimated to be over $5 billion.