Malcolm Young, the co-founder of rock band AC/DC, has died. The 64-year-old reportedly died peacefully after a battle with dementia.

According to Rolling Stone, Young passed away on Saturday, surrounded by his family. He had retired from the band, which he formed with his brother, Angus Young, back in 1973, three years ago, due to his illness.

Young is survived by his brother Angus, as well as his wife, Linda, as well as his two children. Cara Young and Ross Young.

Linda has not yet released any statements about her husband's death, though a statement from his family praised the work he did as a musician, alongside his brother.

"Renowned for his musical prowess, Malcolm was a songwriter, guitarist, performer, producer and visionary who inspired many," the statement said. "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."

Not much is known about Malcolm and Linda Young's marriage, including what year they wed, as the couple kept their lives very private. However, after he retired from the band due to his health in 2014, they reportedly paid $10 million for a waterfront property in Palm Beach, Sydney, Australia a few months later.

Young was known for creating AC/DC with his brother Angus, and the two are credited as co-writers on every song the band produced between their 1975 album, "High Voltage," and 2014 record "Rock or Bust." Among their hit songs they penned were "It's A Long Way to the Top (If You Want to Rock n' Roll)," "Highway To Hell," "Thunderstruck," and "Back in Black."

In an additional statement from the band's Facebook page, Angus wrote a touching tribute to his younger brother, praising him for a "job well done" in his life.

"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 said. "He leaves behind an enormous legacy that will live on forever. Malcom, job well done."

No funeral arrangements have been announced.

Malcolm and Angus Young of AC/DC
Malcolm Young of AC/DC has died at age 64, and is survived by his wife, Linda (not pictured). Here, he is seen at a Rock Walk handprint ceremony in Hollywood, California, with his brother, Angus Young (L), on Sept. 15, 2000. Getty Images/Newsmakers