Jim Stewart, who co-founded legendary Memphis R&B label Stax, has died at age 92. Stax shared a statement Monday night: "We are deeply saddened to announce the death of Stax Records founder Jim Stewart. Mr. Stewart passed away peacefully earlier today, surrounded by his family. While his impact on soul music is immeasurable, the 'Memphis Sound' he fostered throughout the 1960s and 70s as a savvy record executive and visionary producer can still be heard and felt in the music of today."

Stax songwriter David Porter posted a picture of the Stax Museum bus and wrote, "WOW!! No way a poor kid from a housing project’s picture in Memphis would be on a bus rolling through Memphis if it were not for this man, JIM STEWART the ST of the word Stax. The co owner and beginning of Stax Records! He passed this morning at 92 years old! I love and acknowledge him and his memory. RIP my dear benefactor to American Soul music."

Born in 1930 in Middleton, Tennessee, Stewart borrowed and scraped together money to start Satellite Records in 1957 which changed its name to Stax in 1961. The label released classics from Otis Redding, Isaac Hayes, Booker T & the MGs (who were the Stax House band), Sam & Dave, Eddie Floyd, Carla Thomas, William Bell, and more. Stax's studio was in a former Memphis Movie Theater and the acoustics there helped create the bass groove-heavy "Stax Sound."

Jim was inducted into the Rock n' Roll Hall of fame in 2002.

Rest in peace, Jim. Listen to a few of Stax's classics below.

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