Former Australian GP boss Ron Walker dies

Ron Walker

Ron Walker, hailed as a man who "loved Melbourne and Victoria" and who stole the Australian Grand Prix from Adelaide, has died at the age of 78.

Mr Walker was a prominent businessman who served the state in many roles, including as mayor and the head of the Melbourne Major Events Company which brought the Commonwealth Games to the city.

He was also the former chairman of Fairfax Media and a prominent member of the Liberal Party.

News of Mr Walker's death was tweeted by former prime minister Tony Abbott who said "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 center of things," he wrote.

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

"He was a staunch friend and constant encouragement to successive Liberal leaders and will be much missed."

Former Victorian premier Jeff Kennett, a close friend, has also confirmed the passing of Mr Walker.

Prime Minister Malcolm Turnbull praised Mr Walker as "a wise and true friend to me".

"We will not see his like again," he said.

Victorian Opposition leader Matthew Guy said Mr Walker's generosity touched many.

"Ron Walker loved Melbourne and Victoria," he said in a statement.

"His achievements helped put Victoria on the map.

A wealthy businessman, Mr Walker was responsible for bringing the Grand Prix to Melbourne in 1993.

His contributions to the community and major events have seen him win several honors, including a Companion of the Order of Australia, a Centenary Medal and a Victoria of the Year.

While his name is synonymous with big business, big development and big money, Ronald Joseph Walker had more humble beginnings.

Born in Melbourne in 1939, he attended Caulfield Grammar School and started his first business in a Collingwood backyard making dishwashing detergents and washing cars.

His career went from strength to strength, as he built his fortune in the property and chemical industries and, in 1974, he was elected Melbourne's Lord Mayor.

He served on the council for three years, hosting sporting events and bringing music acts to Melbourne's Moomba Festival.