The man known throughout the music industry as "the Fifth Beatle" has died from lung cancer.

Neil Aspinall, who controlled The Beatles' music empire for more than 40 years, passed away in hospital in New York yesterday.

Sir Paul McCartney flew to the U.S. on Saturday to be at the bedside of the 66-year-old as his condition deteriorated. It is understood he had battled the disease for past two months.

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Fab Five: Neil Aspinall with the Beatles in January 1964. He was their accountant and business adviser for 40 years and even sang backing vocals on Yellow Submarine

Aspinall started work for the band as the £1-an-hour driver of their battered blue Commer van. He became their confidant and accountant, as well as contributing to some recordings, playing percussion on Magical Mystery Tour and singing backing vocals on Yellow Submarine.

Neil Aspinall, who has died aged 66, had a son by Mona Best, the mother of the band's first drummer, Pete

In 1968 he took over Apple Corps, the company set up to manage the Beatles' business interests.

In a statement released on behalf of Sir Paul and Ringo Starr and Beatle widows Yoko Ono and Olivia Harrison, the company said: "As a loyal friend, confidant and chief executive, Neil's trusting stewardship and guidance has left a far-reaching legacy for generations to come.

"All his friends and loved ones will greatly miss him but will always retain the fondest memories of a great man."

Aspinall resigned as chief executive of Apple Corps 11 months ago to run a small film company from his home in South-West London.

A former smoker, he was being treated at Manhattan's Memorial Sloan-Kettering Cancer Centre after being transferred from a London hospital. Suzy, his wife of 39 years, was at his bedside yesterday along with his five children.

Sir Paul McCartney flew to New York to be at the bedside of Neil Aspinall