Shaw died peacefully at home in Hong Kong, TVB (Television Broadcasts), the company he had founded said, reported BBC news.
He co-founded Shaw Brothers film studio with his brother Runme. The studio produced almost 1,000 films, in addition to bringing the Kung Fu genre into prominence.
Born in Shanghai, Run Run Shaw initially worked with his brothers to open cinemas across Singapore and Malaysia.
He moved to Hong Kong in the 1950s and formed a production company.
He later opened the famous Movie Town studio, which came up with blockbusters like 'The Magnificent Concubine' and 'One-Armed Swordsman'.
Shaw has also been honoured by Queen Elizabeth II in 1974, for his philanthropic work.
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