Fast and Furious actor Paul Walker died suddenly Saturday afternoon after a tragic car accident in Santa Clarita, CA.

According to TMZ, Walker, who was 40-years-old, was sitting in the passenger seat of a Porsche, that was reportedly his, when the driver of the car crashed into a tree. The car then caught on fire. Both Walker and the driver did not make it.

Sources told the publication that Walker was in the area for a car show that was set to raise money for the Philippines. The driver was driving Walker's new car when the accident occurred.

The She's All That actor's official team confirmed the news on Facebook in a post that reads, "It is with a truly heavy heart that we must confirm that Paul Walker passed away today in a tragic car accident while attending a charity event for his organization Reach Out Worldwide. He was a passenger in a friend's car, in which both lost their lives. We appreciate your patience as we are too stunned and saddened by beyond belief by this news. Thank you for keeping his family and friends in your prayers during this very difficult time. We will do our best to keep you apprised on where to send condolences. -Team [Paul Walker]."

Walker was currently shooting the seventh Fast and Furious film that was set to come out next summer.

Universal Studios also released a statement and said, "All of us at Universal are heartbroken. Paul was truly one of the most beloved and respected members of our studio family for 14 years, and this loss is devastating to us, to everyone involved with the Fast and Furious films, and to countless fans. We send our deepest and most sincere condolences to Paul's family."

Walker is survived by his daughter Meadow, 15.

Tags: Paul Walker