Businessman and former Grand Prix boss Ron Walker has died

Famous Melbourne businessman and former Grand Prix boss Ron Walker has passed away aged 78 after a six-year battle with cancer.

The millionaire who played a role in the creation of Crown Casino retired as chairman of the Australian Grand Prix Corporation in 2015 after a 22-year stint in the role.

The high profile Melbourne businessman was a prominent Liberal Party figure, working as national treasurer of the party from 1987 to 2002. 

Prime Minister Malcolm Turnbull led tributes describing Mr Walker as ‘a great Australian, magnificent Melbourne and ferociously committed Liberal’.

Ron walker retired as chairman of the Australian Grand Prix Corporation in 2015 after 22 years

Queen Elizabeth II chats with Ron Walker, chairman of the Commonwealth Games, in 2006

‘Ron was a wise and true friend to me as he was to so many Liberal leaders. We will not see his like again. Our hearts go out to Barbara and their family at this sad time,’ Mr Turnbull tweeted.

Former prime minister Tony Abbott wrote: ‘Australia, Victoria and Melbourne have lost a great son with Ron Walker’s passing. 

‘For decades, not much happened in Melbourne without Ron being at the centre of things. 

‘As well, he was a great supporter of good causes, from medical research to the Liberal Party, which he helped to keep together in tough times.’

Mr Walker’s personal wealth was estimated at close to $800 million in 2014, according to The Australian. He is survived by his wife Barbara and three children. 

Former Australian Prime Minister Malcolm Fraser (right) and Ron Walker share a smile in 2010

Left: Ron Walker and his wife Barbara attend a gala dinner  at the National Gallery of Victoria in 2008. Right: Ron Walker with Me Bernie Ecclestone, CEO of the Formula One Group, in 2010.

From left: Mark Webber of Australia and Infiniti Red Bull Racing, Ron Walker the Chairman of the Grand Prix Corporation and Daniel Ricciardo at the Singapore Formula One Grand Prix