The Hollywood veteran, who oversaw the iconic Karate Kid and Ocean's 11 films, died at his home in Palm Springs, California, aged 77.

Clooney's 2001 Ocean's Eleven remake was produced by Weintraub and the movie star took a break from his vacation in Italy to pay tribute to his late friend.

A statement released on Monday expressing his and wife Amal's sadness, reads: "In the coming days there will be tributes about our friend Jerry Weintraub. We’ll laugh at his great stories, and applaud his accomplishments and in the years to come the stories and accomplishments will get better with age, just as Jerry would have wanted it. But not today. Today our friend died.

"To his family and friends, Amal and I send our love. And to those who didn’t know him we send our deepest sympathy. You would have loved him.”

Larry King took to to honour the late mogul, writing, "Shocked to learn of the passing of Jerry Weintraub. I just saw him last week. This is a great loss to show business, what a legend."

Karate Kid child star Ralph Macchio also used the microblogging site to pay tribute, adding, "So sad at loss of Jerry Weintraub, you were 1 of a kind, my friend. Last of a breed. So glad I got to be 'that kid'."

And former U.S. President George H. W. Bush, who was a close friend of Weintraub, released a statement on behalf of himself and his wife Barbara. It reads: "Barbara and I mourn the passing of our close and wonderful irrepressible friend, Jerry Weintraub. Jerry was an American original, who earned his success by the sheer force of his instinct, drive and larger-than-life personality...

"I used to tease him about... being a 'black belt name-dropper', but he really did seem to know everyone in showbiz - and we join his many friends in remembering and celebrating his singular life."

Nancy Sinatra, whose father Frank was managed by Weintraub, tweeted, "Jerry, #JerryWeintraub I thought you would live forever. I can't express my sadness. I'll always love you", and comedian Paul Reiser adds, "Just heard Jerry Weintraub has died. He was a giant and a good friend. No Jerry, no (film) 'Diner' No 'Karate Kid'... And a lot less fun. RIP."