The AC/DC co-founder and guitarist has died, the band announced on their Facebook page on Saturday. He was 64.
"Today it is with deep heartfelt sadness that AC/DC has to announce the passing of Malcolm Young," the post began. "Malcolm, along with Angus, was the founder and creator of AC/DC. With enormous dedication and commitment he was the driving force behind the band. As a guitarist, songwriter and visionary he was a perfectionist and a unique man. He always stuck to his guns and did and said exactly what he wanted. He took great pride in all that he endeavored. His loyalty to the fans was unsurpassed."
"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," Angus said in the statement. "He leaves behind an enormous legacy that will live on forever. Malcolm, job well done."
Young was born in Glasgow, Scotland before his family emigrated to Sydney, Australia in the early 60s, and formed AC/DC with Angus in 1973. The band was named after the "AC/DC" electrical current marker the brothers spotted on their sister's sewing machine. Over the following years, AC/DC produced hits like "Back in Black," "Highway to Hell," "Thunderstruck," "Hells Bells," "For Those About to Rock (We Salute You)" and "You Shook Me All Night Long."
In 2003, AC/DC and the Young brothers were inducted into the Rock and Roll Hall of Fame. With over 110 million albums sold, AC/DC is the best-selling Australian act of all time.
Young had been suffering with dementia for the last three years, forcing him to retire from the band that he co-founded with Angus in 1973. He last performed with AC/DC at the conclusion of their Black Ice tour in June 2010 in Bilbao, Spain.
Young's older brother, George Young, who was a guitarist for the Easybeats and a longtime producer for AC/DC, died in October at the age of 70.
The rock community has also recently felt the loss of Tom Petty. Watch below.