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Allen was 65, announced his investment company Vulcan in a statement announcing his passing. He died in Seattle of complications related to non-Hodgkin's lymphoma two weeks after Allen said he was being treated for this disease.
Non-Hodgkin's lymphoma, like the less common Hodgkin's disease, is a cancer of the lymphatic system.
"My brother was a remarkable person at all levels," Allen's sister, Jody Allen, said in a statement on behalf of her family. "He was a very beloved brother and uncle and a great friend."
"I'm sorry for the passing of one of my oldest and dearest friends, Paul Allen," Microsoft founder Bill Gates said Monday in a statement. "Paul was a real partner and a dear friend.Personal computing would not have existed without him."
"As a co-founder of Microsoft, he has created magical products, experiences and institutions in his own way and, in doing so, has changed the world," added Nadella.
Allen did not slow down after leaving Microsoft. He served on the company's board of directors for several years while creating his own philanthropic foundation, alongside his investment company, Vulcan.
He bought two professional sports teams: the Portland Trail Blazers from the NBA and the Seattle Seahawks from the NFL. He was involved with both until his death.
"Paul Allen was the ultimate goaltender," said NBA commissioner Adam Silver in a statement, adding that Allen was one of the oldest owners in the league . "He was a precious voice who challenged assumptions and conventional wisdom."
NFL commissioner Roger Goodell called it a "driving force" behind the NFL's continued existence in the Pacific Northwest. In a statement, Goodell said Allen "worked tirelessly with our medical advisors to identify new ways to make gambling safer and protect our players from unnecessary risk."
Friends, family and other admirers also congratulated Allen for his significant philanthropic contribution.
"We shared the belief that by exploring the space in new ways, we could improve life on Earth," said Richard Branson, founder and CEO of Virgin Group.
"All of us who have had the honor of working with Paul, we feel an inexpressible loss today." said Vulcan CEO Bill Hilf. "Today, we mourn our boss, mentor and friend who was 65 years old was too short – and recognize the honor that he has been working alongside someone whose life has transformed the world. "
"It was a moment that changed my life," he told the publication. "I think I was 14 when I heard it – it was just music from another planet."
Musician and music producer Quincy Jones mourned Allen's death on Monday night and called him "dear friend" and "killer guitarist".
In his later years, Paul Allen has undertaken several other projects, ranging from charities to adventurers.
Allen still found other ways to leave his mark on the world this year. A team of explorers led by him discovered a wreck in March of USS Juneau, a World War II cruiser sunk by a Japanese torpedo in 1942.
"He and his partner Bill Gates [were] has helped to get things done and to make sure that all the things we are talking about today happen, "said Levy," His footprint will be for us all. "
Mark Cuban, the billionaire entrepreneur and owner of the Dallas Mavericks, also tweeted his condolences.
"You were a good man and we will miss you," said Cuban. "Rock and Roll Heaven has become a lot better."
– Ahiza Garcia from CNN Business contributed to this story.
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