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Billionaire landowner the Duke of Westminster has died suddenly today aged 64.

Gerald Cavendish Grosvenor became ill on his Abbeystead Estate and passed away at the Royal Preston Hospital in Lancashire, a spokeswoman for the estate said.

Unconfirmed reports suggested the Duke suffered a heart attack.

He headed up the multi-billion pound Grosvenor Estat, best known for the development and long term ownership of London’s plush and trendy areas of Mayfair and Belgravia.

According to the Sunday Times Rich List 2016 , the Duke was worth £9.35 billion placing him sixth in the list and making him the third richest British national.

He was also the 68th richest billionaire in the world.

However, he lost an estimated £769,000,000 ($1 billion) because of the European Union membership referendum.

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His son Hugh Grosvenor, is Prince George’s youngest godfather and his family has close ties with the Royals.

Prince William and the Duchess of Cambridge, as well as Prince Harry, are regular visitors to Grosvenor properties including their boar hunting lodge in Spain.

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A Buckingham Palace spokeswoman said: ''I can confirm that Her Majesty the Queen is aware of the news about the Duke of Westminster.

"A message of condolence is being sent by the Queen and the Duke of Edinburgh."

The Prince of Wales and Duchess of Cornwall are ''deeply shocked and greatly saddened'' by the sudden death of their friend the Duke of Westminster, a Clarence House spokeswoman added.

(Image: PA) (Image: Rex) (Image: PA)

The Duke served in the British Army between 1973 and 2012 and reached the rank of Major General.

He was married to Natalia Ayesha Phillips with whom he had four children.

The title of the Duke of Westminster was created in 1874 by Queen Victoria.

(Image: PA) (Image: PA) (Image: PA)

A spokesman for the Duke's family said: "It is with the greatest sadness that we can confirm that the Duke of Westminster, Gerald Cavendish Grosvenor (64) died this afternoon at Royal Preston Hospital.

"He was taken there from the Abbeystead Estate in Lancashire where he had suddenly been taken ill.

"His family are all aware and they ask for privacy and understanding at this very difficult time.

"No further comment will be made for the time being but further information will follow in due course."