King was fatally shot the next day while standing on the balcony of the old Lorraine Motel in Memphis.
In 1967, Davis started one of the first independent, black-owned insurance agencies in the South.
Davis and his wife also fought for civil rights and desegregation of Memphis City Schools.
There wasn't a finer, nicer gentleman in politics and government during that period," U.S. Rep. Steve Cohen, a Memphis Democrat, said in a statement. "Mr. Davis brought people together."
Mayor Jim Strickland said on Twitter that Davis was a “Memphis legend.”
“His leadership inspired us to name the Innovation Center at our Entrepreneurs Network Center for him, where his clarion call for building black-owned businesses will live on,” Strickland said.
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