Jimi Heselden, the owner of Segway, tragically died while reversing the vehicle off a cliff to avoid a dog walker.
The 62-year-old’s body was found in the River Wharfe at Boston Spa, near Wetherby in West Yorkshire.
His segway was also found nearby.
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The businessman, who was one of the 400 richest people in the UK, tumbled 30 feet off a cliff in September 2010.
He left his estate worth £342,172,206 to his family, including his wife Julie, in his will.
Heselden made his fortune after his Leeds-based company ‘Hesco Bastion’ created the 'blast wall’ basket, which protects soldiers in Afghanistan and Iraq, as a replacement for traditional sandbags, as reported by Mail Online.
A coroner heard that Heselden’s death was probably caused by “an act of courtesy” as he tried to make way for a dog walker.
Following his death, a statement released on behalf of the trustees of Heselden's estate said: “It can be confirmed that Jimi left an estate of £343,172,206 which he has bequeathed to his widow Julie and other family members.
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“The estate consists substantially of Jimi's controlling interest in Hesco Bastion Ltd.
“The family wishes that Jimi's legacy will live on in the many charities and good causes he supported during his lifetime.”
Sean Christie told the coroner he was walking near Jackdaw Crag, by the river, when he saw Heselden at the top of a steep incline apparently weighing up how he was going to tackle the sloping footpath on his X2, which is a rough terrain version of the Segway.
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Christie said that, from 40ft to 50ft away, he saw the businessman move a short distance backwards in a movement he assumed was to make room for him to pass.
He is then believed to have fallen from the 42-foot drop, landing on the bank of the river, before entering the water, where he is found dead.
Experts found no fault with the Segway.
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