The Stock Exchange announced details yesterday after his purchase of 2.375million shares moved him into the “major interest” threshold.
Taylor is Glasgow born and a close friend of George Letham, who gave the club an emergency loan of £1m earlier this year.
Taylor was also part of the syndicate involving Letham, Paul Murray and Dave King whose proposed investment of £16m was rejected in favour of Mike Ashley’s £2m emergency finance package.
Taylor was unavailable for comment and the strategy behind his shares purchase has yet to be established but he has already won the backing of rank and file fans.
Scott Semple, secretary of the Hong Kong Rangers Supporters Club, said: “He is a member of our club, a true bluenose. I’ve known him for 10 years and trust him.
“I’ve spoken to him and he only has the best intentions for Rangers.”
Chris Graham of the Union of Fans added: “The more shares in the hands of genuine fans, the better.”