The music industry veteran, who was often seen toting a cigar, passed away from complications following a heart surgery which he underwent six months ago, TheWrap.com, a news portal site covering entertainment and media, reported.

　　Born in Pittsburgh, DiLeo served as executive with Epic Records and was credited for taking Epic Records from the number 14 label in the U.S. market to number two.

　　He was voted executive of the year for Epic Records and was honored with 80-plus gold and platinum awards. He also appeared in several movies including Martin Scorsese' s classic "Goodfellas" as mobster Joe Pesci' s murderer.

　　DiLeo began to manage Michael Jackson's career after the record-shattering release of 1984's "Thriller," serving as executive producer of Jackson's movie "Moonwalker" and was instrumental in negotiating the pop icon's commercial deal with Pepsi.

　　He also managed the singer's Bad World Tour -- one of the highest grossing tours of all time.

　　The pair parted ways on February 14, 1989 when their business relationship was abruptly terminated, without any public explanation. However, it was reported in 2009 that DiLeo was back in the management scene and remained with Jackson until his final days.

　　Jackson, 50, died of acute propofol intoxication at his newly rented Holmby Hills estate on June 25, 2009 when he was preparing for his London comeback concerts.

　　DiLeo is survived by wife Linda and two children. Funeral services are scheduled in Pittsburgh next week.