Missing millionaire adventurer Steve Fossett poses by his aircraft the morning of his attempt to fly the first solo, non-stop round the world flight in the Virgin Atlantic GlobalFlyer in this February 28, 2005.

US adventurer Steve Fossett who set 116 world records was declared dead on Friday, the Los Angeles Times reported.

Fossett, the multimillionaire aviation and sailing world record holder, had been missing since taking off alone in a single-engine plane from a private Nevada airstrip in early September.

Fossett was declared dead by an Illinois court. He was 63.

Cook County Circuit Court Judge Jeffrey Malak ruled that there was sufficient evidence to declare Fossett dead after he heard testimony from Fossett's wife Peggy as well as an expert on search and rescue operations, said the paper.

Fossett's wife first petitioned the court on November 27 to declare Fossett dead -- a step toward resolving the legal status of Fossett's estate, which was described in court papers as "vast, surpassing eight figures in liquid assets, various entities and real estate." The Fossetts had been married since the late 1960s.

Fossett was the first person to fly a balloon solo around the world and was the first pilot to circle the globe solo in an aircraft without stopping or refueling. He set 116 records in sailboats, powered aircraft, balloons, airships and gliders.

Fossett was reported missing after taking off on what he had said would be a short morning flight. Then he was reported missing in the Nevada desert. Days of search turned out fruitless.

(Xinhua News Agency February 16, 2008)