Laker divided his final years between his waterfront home in Princess Isle, Grand Bahama Island, where he kept his yacht, "The Lady Jacqueline", and Florida. Laker died at the age of 83 in a suburban hospital in Hollywood in Florida, following complications from cardiac surgery to implant a pacemaker. He was survived by his fourth wife, Jacqueline Harvey, a former airline hostess he married in 1985, and also by two of his children. His daughter, Elaine, was by his first wife Joan with whom he also had a son, Kevin, who died in 1965 at the age of 17 after crashing a sports car Freddie had given him for his birthday. His son Freddie Allen Laker – also a successful entrepreneur – was born to his third wife, Patricia Gates, with whom he also had another son who died in infancy.