Tributes have been pouring in following the death on Monday of Nick Moraitis, a pioneering businessman who was also one of Australia’s most successful and popular racehorse owners. He was 87.

His son, Paul, told News Corp that his father had been diagnosed with liver cancer on 13 May.

“That is a day I will never forget,” said Paul Moraitis. “It is very sad but at least he did not have to suffer in pain for too long.”

A passionate follower of racing, Mr Moraitis was to own a number of horses that made their mark but Might and Power was the one that etched his name in Australian racing lore as that horse came close to matching the status of the fabled Phar Lap. Might and Power won the trifecta of Australia’s top races, the Caulifield and Melbourne Cups in 1997 and the Cox Plate the following year – a feat that only Rising Fast achieved in 1954.

Mr Moraitis’ response to winning $1million dollars at the Cox Plate on live television was “fxxx the money”, his motivation in horse racing was more than about winning money.

Some of the other successful horses that he owned included Vision and Power, Love Conquers All, Exceed and Excel, All Arabian Gold and Destiny’s Kiss but Might and Power was closest to his heart and he felt that the horse would have won more races but for an injury that ended his career in 1998.

“I don’t think we ever saw the best of him either. He was injured soon after winning the Cox Plate so only God knows what he may have achieved in his race career,” Mr Moraitis was to say in a later interview.

When the horse died two years ago, Mr Moraitis said: “When Might And Power died from colic two years ago, Moraitis said at the time: “You have no idea how sad it is for me – Might And Power was like family to me. He has left us with a lot of great memories. I thank God every day for having Might And Power in my life.”

Mr Moraitis was born in Townsville in north eastern Queensland. He had a passion for sport and played rugby league in his youth. He went on to become a successful businessman developing into Sydney’s “fruit and veg pioneer”. He started off delivering in person 50kg bags of vegetables to customers. He launched Morco Fresh 50 years ago, now run by his sons, Paul and Stephen, and the business has grown to become an Australia-wide fresh-produce supplier.

As his business grew, so did his interest in horse racing develop. He was to be involved in horse racing for 40 years. Mr Moraitis was a long-time member of the Sydney Turf Club and served as a director of over a decade. He was not afraid to speak his mind on matters that affected horse racing. He was also a Life Member of the Australian Turf Club.

“Nick was a giant of Australian racing. As well as his champion Might and Power, he owned some absolute topliners like Exceed and Excel, Fiumicino and Maluckyday,” horse-racing authority Nick Tzaferis told Neos Kosmos. “But for all his success racing and breeding horses, I remember him saying that his real success in life was his family and business.”

He is survived by his children Antonia, Paul and Stephen and long-time partner Judy.