Weston’s family announced his death on Tuesday, saying in a statement that he “died peacefully at home after a long illness confronted with courage and dignity.”
The retail tycoon was one of the richest people in Canada, with a net worth of $ 10.7 billion, according to the Bloomberg Billionaires Index.
Weston was the third generation of his family to run George Weston Limited, which started as a commercial food industry in Canada but expanded over decades to include Canadian grocery company Loblaw and real estate firm Choice Properties. The family also controls British high-end retail chain Selfridges and discount retailer Primark.
“The luxury retail industry has lost a big visionary. Its energy has electrified those of us who were lucky enough to work with it to rethink what the customer experience could be,” said his daughter, Alannah Weston, the chairman of Selfridges Group, said in a statement.
The entrepreneur was also close to the British royal family. Prince Charles, the successor to the throne, was a polo partner and friend, the New York Times reported in 2007.
In 1983, Weston was the target of an attempted kidnapping in Ireland. Police sources told the New York Times after the conspiracy was thwarted that the provisional Irish Republican Army was behind the attempt.
Weston retired in 2016 as chairman of George Weston Limited to spend more time on his philanthropic endeavors. He was married for 55 years to his wife, Hilary Weston.
“My father’s greatest gift was to inspire people around him to achieve more than they thought. In our business and in his life, he has built up a legacy of extraordinary accomplishments and joy,” said his son, Galen G Weston, Chairman and CEO of George Weston. Limited, reads a statement.