Michael Armand Hammer, Los Angeles business mogul and father of actor Armie Hammer, has died at age 67.
TMZ was the first to report that Hammer, grandson of Occidental Oil founder Armand Hammer, died on Sunday, Nov. 20.
A rep for the family confirmed the news to People in a statement.
“Michael Hammer has passed away after a long, hard fight with cancer and is now at peace,” read the statement.
Hammer was reportedly left most of his late grandfather’s $40-million fortune.
In addition to serving as a vice president at Occidental Oil, as well as sitting on the board of directors, Hammer was also associated with Hammer Productions, the Armand Hammer Foundation, Hammer Galleries and the Hammer International Foundation.
Hammer is survived by sons Armie, 36, and Viktor, 34, from his marriage to ex-wife Dru Ann Mobley.