Mosley was president of the governing body of motorsport, the FIA, and one of the most significant figures in the world of Formula 1 during the sport’s heyday.
Mosley’s passing was confirmed by former F1 chief Bernie Ecclestone, who revealed his close relationship with the former FIA chief.
“It’s like losing family, like losing a brother, Max and I,” Ecclestone said.
“He did a lot of good things, not just for motorsport, also the (motor) industry.
“He was very good in making sure people built cars that were safe.”
Despite being a driving force in the world of motorsport, Mosley’s latter years saw his reputation affected by news that saw him involved in a sadomasochistic orgy with five prostitutes.
That incident, which was originally reported by the News of the World newspaper, prompted Mosley to invest millions of his personal fortune into pushing for stricter controls over press intrusion into the private lives of public figures.
Mosley was the son of former Hitler sympathiser and fascist leader Sir Oswald Mosley.
Former Jordan and Cosworth consultant Mark Gallagher paid tribute to Mosley’s behind-the-scenes impact on motoring away from the racetrack.
“So few realise the very good work that Max Mosley did as regards safety in racing and its transfer into road cars,” he tweeted.
“The pioneering work which he drove at the FIA post-Imola ‘94 helped make safety a key marketing tool for car companies.
“A fascinating man, with quite the life story.
“It was typical of him not to be cowed by the salacious headlines created by the News of The World (followed by a media ‘pile on’) about his private life. Instead, he took the fight to them and won. His long time friend Bernie Ecclestone failed to support him initially, something Bernie came to regret.
“I also loved the story that when told Max had been filmed at an orgy for six hours, Bernie was mainly impressed with high levels of stamina. Sorry to see Max leave the stage. Looking forward to seeing the forthcoming film (about his life).”
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