Andy Carolan, 51, was "one of the giants of the Scottish direct marketing industry" and a key force behind Leith-based Tangible, one of the UK's most successful and lucrative marketing agencies.
Mr Carolan, who lived in Gullane, East Lothian, had been playing golf before he was struck by the train at Longniddry station.
Police said there were no suspicious circumstances surrounding the death of the father of two. Tributes have poured in for Mr Carolan, who made nearly £2.5 million after selling the firm he founded in 2004.
Karen Trickett, chief operating officer at Tangible, said: "Andy was a much-respected and well-loved colleague. He will be sorely missed. All our thoughts are with his wife Sherrie, his sons Mark and Conor, and sister Lesley."
A British Transport Police spokesman said: "A 51-year-old man was struck and killed by a train at Longniddry station on Friday, November 16.
"There are no suspicious circumstances and a report is being sent to the procurator-fiscal."