September 27, 2021

Missing Millionaires: Steve Fossett

Missing Millionaires: Steve Fossett

Missing Millionaires never go unnoticed, especially those who are world renowned. Take Steve Fossett for example. This wealthy businessman built his reputation as a world record holder in over 100 aviation and sailing records. When he mysteriously disappeared, thousands of dollars were spent on search and rescue efforts. By the end of it all, it was estimated that an alarming $1.6 million had been spent on the search for Fossett.

Early Life

Born in Jackson Tennessee, Steve Fossett developed a desire for adventure at a very young age. He spent the majority of his childhood as a member of the Boy Scouts, climbing and exploring the mountains of California. Fossett’s outgoing behaviour was strongly encouraged by his father who also belonged to the Boy Scouts as a high ranking member. His son soon followed in his footsteps and at the age of thirteen, the young adventurer earned the Boy Scouts highest rank of Eagle Scout.


By the time he reached university, Steves’ adventurous reputation had preceded him. He was challenged by one of his fraternity brothers to swim all the way to Alcatraz and raise a flag on the prison wall. The prison which had only been closed two years prior, was still heavily guarded which resulted in Steve being averted as soon as he arrived. It was clear that the young man was never one to decline an exciting experience


While at university Steve received an MBA from the Olin School of Business. He later became a businessman, making his fortune on the stock market. Fossett stayed true to his first love. He remained an avid adventurer and sportsman. He has set over one hundred world records in sailing, ballooning and flying and was the first person to fly solo around the world in a hot air balloon. Steve was also known for taking the first non-stop solo flight around the world in an aircraft.



Missing Millionaires: Steve Fossett


Steve continued to seek out adventure and until the age of 63 he would regularly take solo flights. On the morning of September 3rd, 2007, Fossett took his final flight in Nevada. The seasoned pilot failed to return from, what should have been, a short flight. A search was launched six hours later after no signal from the plane’s Emergency Locator Transmitter (ELT) was received, which is designed to activate automatically in the event of a crash. Unfortunately the model of the plane that Fossett was flying was notorious for failing to operate after a crash.


Searches continued into the following year before Fossett was declared legally dead in February of 2008. The search was recorded as one of the largest search and rescue efforts ever conducted in the U.S. In total the Nevada searches cost the state $1.6 Million with an additional $1 Million was spent by Fossett’s wife, on private searches. Tragically, both attempts were unsuccessful.


Missing Millionaires: Steve Fossett



In September of 2008, the crash site along with wreckage of Fossett’s plane was discovered by a hiker. It wasn’t until a month later that search teams recovered two large human bones 800 metres (0.5 miles) from the crash site. The bones were a match to Fossett’s DNA. It is suspected that the businessman died on impact and scavenging animals dragged his remains away.


On July 9, 2009, the NTSB declared the probable cause of the crash as “the pilot’s inadvertent encounter with downdrafts that exceeded the climb capability of the airplane.”


It’s common for Millionaires to take a break from the public eye, but in this instant it wasn’t of his doing. For more missing millionaire stories, visit Lottery Network today!

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