John Walker, who founded the investment and development company Magell, passed away on Friday.
A death notice said Mr Walker, from Broughshane, died peacefully at Causeway hospital. He was 86.
A well-known personality in the north Antrim area, he also established The Country Garage BMW in Ballymena.
North Antrim MP Jim Allister led tributes.
He said: “I was deeply saddened to learn of the passing of John Walker, a towering figure in Ballymena’s business community and a man whose entrepreneurial legacy will long outlive him.
“John was a man of drive and determination. From humble beginnings, he built remarkable business success.
“I offer my sincere condolences to the entire Walker family at this time of loss.”
John Walker. Photo: Country Garage BMW/Facebook
News Catch Up – Friday 16 May
Former MP Ian Paisley said Mr Walker’s business influence was “legendary”.
“John Walker was one of life’s true characters, and when he was made, the mould was shattered,” he said.
“An irreplaceable man of action. He was a significant entrepreneur and one of the true big business beasts of Ballymena.”
In an online post, the Country Garage said Mr Walker would be “sorely missed”.
“With hearts that are heavy, we share the news that our founder, John Walker, passed away yesterday morning at the age of 86,” it said.
“As you will know from our anniversary celebrations last year, The Country Garage was started by John over 50 years ago with a handful of cars and a vision – a vision that no doubt surpassed his expectations.
“While not actively involved in the running of the business in recent years, John always made a point of visiting for a cup of tea and a scone, and always had time for conversation with staff and customers alike.
“His presence in the showroom will be sorely missed.”
Mr Walker was also known for founding Magell, which is now run by his grandson, Ryan.
It plays a prominent role in acquiring, developing and managing commercial real estate throughout the UK.
Mr Walker’s funeral will be held in Ballymena Gospel Hall on Monday at 2pm followed by interment in 2nd Broughshane New Cemetery.