TRIBUTES have been paid to legendary Australian guitarist and AC/DC co-founder Malcolm Young, who has died aged 64 after a long battle with dementia.

Young, who will be remembered for the powerful rhythm guitar riffs and was an essential part of the iconic heavy metal band, died peacefully on Saturday with his family nearby, a statement said.

The Glasgow-born musician, who emigrated with his family to Australia when he was 10, formed AC/DC in 1973 with his brother and lead guitarist Angus. The two were credited as co-writers on every song the band recorded between their 1975 debut High Voltage through to 2014's Rock or Bust. The rock group is estimated to have sold more than 200 million records worldwide, including 71.5 million albums in the US.

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A statement by Angus Young on the AC/DC website praised Malcolm's "enormous dedication and commitment" adding: "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 leaves behind an enormous legacy that will live on forever. Malcolm, job well done."

A statement from American punk band Dropkick Murphys posted on Twitter said: "Malcolm was the heart and soul of AC/DC and as fine an example as any to rhythm guitarists everywhere", while Scottish band Biffy Clyro added:"Rest in peace Malcolm Young" and guitarist Robert Caggiano tweeted: "You wrote the best riffs in the best band and you changed the world. #legend."