KEY WEST, FLORIDA: Iconic singer-songwriter Jimmy Buffett has died at the age of 76. An official statement did not disclose the location or cause of his death.

The announcement was made via his official X account late on Friday, September 1.

The tweet read, "Jimmy passed away peacefully on the night of September 1st surrounded by his family, friends, music and dogs."

It added, "He lived his life like a song till the very last breath and will be missed beyond measure by so many."

Buffett, a two-time Grammy nominee, was best known for his song 'Margaritaville'.

Who is Jimmy Buffet’s family?

Buffett is survived by his wife, Jane Slagsvol, whom he married in 1977, and their three children: Savannah, Sarah, and Cameron.

In May, Buffett had a medical emergency that required him to be hospitalized. As a result, he had to cancel a performance as part of his Second Wind Tour in Charleston, South Carolina.

Following this incident, he reassured his fans that he would be heading home and planned to recover in the company of friends before resuming his tour.

How much is Jimmy Buffett's net worth?

According to Forbes, Buffett's net worth is estimated to be around $1B.

Buffett's wealth portfolio encompasses an estimated $570M accrued from touring and recording, a $50M music catalog and $140M in assets, comprising planes, residences and shares in Berkshire Hathaway.

The singer-songwriter ingeniously transformed his timeless 1977 hit, 'Margaritaville', into the Margaritaville Holdings empire.

He holds a 28% stake in the venture, estimated to be valued at around $180M.

This expansive lifestyle brand boasts an extensive range of offerings, including apparel, home decor, pool floats, pickleball sets, as well as tequila and margarita mix.

During his sojourn in Key West, Florida, in the '70s, Buffett honed his distinctive tropical rock sound, blending elements of Folk, Calypso, Rock and Pop, forging an entirely new and enduring musical genre.

Who owns the Margaritaville chain?

The brand is under the ownership of Margaritaville Holdings LLC, which operates as a subsidiary of Cheeseburger Holding Company, LLC.

Conceived by Buffett in 1985, Margaritaville began as a humble enterprise that sold trinkets and t-shirts before evolving into multifaceted enterprise encompassing resorts, dining establishments and homes among others.