Lauda, one of the world’s best Formula 1 drivers died on Monday at the age of 70.
News of his death was made known through a statement issued by his family, Daily Mail reports.
According to his family, Lauda died on Monday, May 20, 2019 nine months after he had lung transplant surgery.
The statement read: “With deep sadness, we announce that our beloved Niki has peacefully passed away on Monday.
“His unique achievements as an athlete and entrepreneur are and will remain unforgettable, his tireless zest for action, his straightforwardness and his courage remain.
“A role model and a benchmark for all of us, he was a loving and caring husband, father and grandfather away from the public, and he will be missed.”
Lauda won the F1 drivers’ championship in 1975 and 1977 with Ferrari and again in 1984 with McLaren.
He was known to have being involved in a horrible motor crash and was badly burnt at the German Grand prix in 1976 but he made a miraculous recovery and returned to racing six weeks later.
His comeback after the near-death experience made him a great legend and his 1976 rivalry with British driver, James Hunt was the plot line of the movie “Rush”.