Billionaire property developer Lang Walker dies aged 78

A billionaire who built a property empire across Australia has died overnight, with his family remembering him as “a great man who changed the lives of so many”.

Property developer and philanthropist Lang Walker AO died overnight, aged 78.

The Australian billionaire spent his last days surrounded by family at his Woolloomooloo home in inner-city Sydney.

In a statement, Mr Walker’s family said their hearts were “broken” by the loss of a “great man who changed the lives of so many people through his visionary projects and philanthropy”.

“Lang loved creating incredible places where people can live and work, but he loved his family more than anything else in the world and his generosity and affection had no boundaries,” they said.

Mr Walker died at home surrounded by family. Photographer: Bryan van der Beek/Bloomberg via Getty Images

“His zest for life and his relentless pursuit of perfection lives on within everyone in the Walker family.”

“We kindly request privacy during this difficult time and thank everyone for all the messages of condolence.”

Mr Walker is survived by his wife Sue and three adult children: Blake, Chad and Georgia. Mr Walker had ten grandchildren.

Friends told The Daily Telegraph the property tycoon’s health had been deteriorating for some time and Mr Lang had stints in and out of hospital over Christmas.

The businessman founded what would later become the Walker Corporation with his father Alec in 1964.

The company originally specialised in earthmoving, excavation and quarrying before moving into residential property – rebranding from A&L Walker to Walker Corporation in 1973.

It later branched into the development of apartments, industrial parks and commercial centres – with some 500 staff around the world.

Walker Corporation on Sunday confirmed the company’s project portfolio would “continue to be managed, curated and added to by the executive team for the long term”.

Mr Walker co-founded his business alongside his father Alec.

Managing director and chief executive David Gallant described Mr Lang as a “visionary” and an “inspirational leader” who was the first to “creatively tackle the challenge of urban transformation”.

“Lang’s vision will remain an enduring force through the Walker DNA and the Walker Way which he actively passed on – it is embedded in our culture and our modus operandi,” he said.

Mr Walker’s wealth was last estimated in The Australian's Richest 250 list to be worth around $6bn – making him the nation’s 15th richest person.

The private $100m private Kokomo island resort in Fiji was also owned by Mr Walker. Walker Corporation said the island would continue to be operated.

His property empire includes more than 1000 projects across the nation – such as King Street Wharf in Sydney CBD and the Collins Square transformation in Melbourne and Riverlea in Adelaide.

The organisation later went global with developments in Singapore and Malaysia.

In 2015, Mr Walker was awarded an Order of Australia for his philanthropic efforts and service to the community.

Mr Walker was a long-time supporter of the St Vincent’s Curran Foundation and the foundation’s neuroscience research at the Garvan Institute of Medical Research.

He was also the benefactor of the Lang and Sue Walker Centre for Hearing Research, the Garvan Institute, as well as a supporter of St Vincent’s Prostate Cancer Centre and the Children’s Cancer Institute Australia.

Mr Walker was awarded an Order of Australia in 2015. Picture: Supplied

The Australian Olympic sailing team and the Youth Sailing Academy also received financial support from Mr Walker.

Mr Walker was inducted into Property Council of Australia’s Hall of Fame in 2017.

Chief executive Mike Zorbas said the property tycoon’s contribution to Australian life was “immense”.

“He was a great champion of the property industry and a great contributor to many Australian cities and communities,” Mr Zorbas said.

“Lang lived and breathed property for more than five decades.

“During that time he housed and employed tens of thousands of Australians while investing in and shaping our cities for the better.”

Urban Taskforce chief executive Tom Forrest described Mr Lang as a “great leader” and an “innovator” as he paid tribute to the businessman.

“He has left an incredible legacy for the property development sector both here and abroad. Australia has lost a giant of the business world this weekend,” he said.

Mr Walker was awarded Urban Taskforce’s Property Person of the Year on two occasions — the most recent being in 2022.