Malcolm Young, guitarist and founding member of AC/DC has died aged 64.

Young had left the group in 2014 due to his dementia, which he had developed around a decade ago.

The announcement was made in a 'family statement' on the band's website, which reads: “It is with deepest sorrow that we inform you of the death of Malcolm Young, beloved husband, father, grandfather and brother. Malcolm had been suffering from Dementia for several years and passed away peacefully with his family by his bedside.”

Renowned for his musical prowess Malcolm was a songwriter, guitarist, performer, producer and visionary who inspired many. From the outset, he knew what he wanted to achieve and, along with his younger brother, took to the world stage giving their all at every show. Nothing less would do for their fans.

Malcolm is survived by his loving wife O'Linda, children Cara and Ross, son-in-law Josh, three grandchildren, sister and brother.

While thanking all for their overwhelming support and heartfelt condolences, the family ask that you respect their privacy during this time of heartbreak and grief.

For those wishing to send messages to the family please visit the Sydney Morning Herald Malcolm Young Memorial website which will be available next week.

The family have asked instead of flowers to send donations to The Salvation Army."

His brother and fellow AC/DC founder Angus said: “As his brother it is hard to express in words what he has meant to me during my life, the bond we had was unique and very special. He leaves behind an enormous legacy that will live on forever. Malcolm, job well done.”