Lang Walker Networth: Fortune explored as Australian billionaire & property developer dies aged 78

On Sunday, January 28, the family of Lang Walker released a statement confirming the passing of the billionaire Sydney property developer at the age of 78. Walker peacefully moved on, surrounded by family at his Woolloomooloo residence. In the statement, Walker's family praised his philanthropy and "visionary projects" that positively changed many lives.

With an impressive net worth of $5.81 billion, according to the AFR Rich List, Lang Walker served as the CEO and managing director of the Walker Group, which was established in 1972. The Walker Group played a pivotal role in the redevelopment of several cities, including projects like King Street Wharf and Melbourne's Collins Square.

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Lang Walker leaves behind a stupendous legacy

According to the AFR Rich List, Lang Walker had an impressive net worth of $5.81 billion and held the #16 position in the list of Australia's richest people. The Guardian revealed that the real estate tycoon's personal wealth included a private island in Fiji and a superyacht of the same name, Kokomo.

On Sunday, Lang Walker's family released a somber statement revealing that the businessman had passed away at 78. He is survived by his wife, Sue, and three kids, along with 10 grandchildren. The statement lauded Lang's "visionary projects" and philanthropy, which had changed the lives of a lot of people. ABC News quoted the statement as reading:

"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."

It further added:

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

Back in 1964, Lang began his career as a partner at A&L Walker, an earth-moving and excavation company, and worked alongside his late father. He then transitioned to property development by founding the Walker Group in 1972. This move proved pivotal, propelling Walker to billionaire status, with a plethora of major billion-dollar city projects in Australia carrying his footprint.

Some of the developments accredited to him include Parramatta Square, Sydney's King Street Wharf, the Broadway shopping center, and Melbourne's Collins Square, among over 1,200 projects. In 2017, he entered the Property Council of Australia's Hall of Fame, and a couple of years before that, his services to the community made him an Officer of the Order of Australia.

ABC News reported that the tycoon had also invested heavily in political parties, contributing $2.5 million in donations over the last 20 years. The Guardian reported that Lang Walker's immense donations to both political parties played a major role in the 2010 ban on political donations by New South Wales property developers.

Forbes reported that Lang had sold the bulk of his company two times before two financially devastating events. The first time he sold was in 1999, right before the bursting of the dot-com bubble, and the second time was in 2006, right before the major financial crisis.

Walker was also a generous philanthropist, rolling out substantial donations through the Walker Family Foundation. His philanthropic efforts included patronage of the Campbelltown Hospital and the Powerhouse Museum. According to ABC, he also donated $20 million to Macarthur's upcoming Lang Walker AO Medical Research Building. Additionally, he has a hand in the $3 billion Riverlea project.

As mentioned above, Lang Walker passed away at 78 years old, leaving behind his wife, three children, and 10 grandchildren.