British billionaire and co-owner of one of the largest UK newspapers, the Daily Telegraph and its subsidiaries, David Barclay, has died aged 86, The Guardian reported.

"Farewell with respect and admiration to Sir David Barclay who rescued a great newspaper, created many thousands of jobs across the UK and who believed passionately in the independence of this country and what it could achieve," the UK PM Boris Johnson tweeted.

According to the newspaper, an illness became the reason for the unexpected death of the billionaire. Barclay is survived by four sons and nine grandchildren.