The Oatley family has thanked friends, colleagues and the Australian community for their support following the death of Bob Oatley.
Mr Oatley, 87, a giant in Australian winemaking, tourism and yachting, died in Sydney on Sunday.
"The Oatley family has been touched by the many kind words and tributes that have already been received from friends, colleagues and the wider Australian community," the statement said.
Mr Oatley is survived by his wife Valerie, his three children, Sandy, Ian and Ros, seven grandchildren, and eight great-grandchildren.
Mr Oatley was number 34 on the Forbes Australia's Richest People list with an estimated net worth of $910 million.
"He was a proud and passionate Australian recognised for his outstanding contributions to the Australian wine, tourism, coffee, sailing and thoroughbred horse industries," his family said.
"Bob was also well-recognised as a philanthropist who supported Australian Olympic activities, medical research and the arts."
Despite his many great achievements in the business world, it was his yachting victories that Mr Oatley cherished most, with his 100-foot supermaxi Wild Oats XI taking line honours in the Sydney to Hobart eight times, and doing so in record time in 2012.
"It's the greatest thing that's ever happened to me in my life," a jubilant Mr Oatley said as he celebrated the 2012 win.
A private funeral will be held for Mr Oatley.
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