Australian richest man, media mogul Kerry Packer, died in his Sydney home, his Channel Nine television station announced.
He has topped the Business Review Weekly's annual "rich" list for decades, with the business magazine this year estimating his fortune at 6.9 billion dollars (5.2 billion US).
"He was also a philanthropist who was generous in giving to charity," Treasurer Peter Costello said in a statement. "He was one of Australia's most successful ever businessmen."