Former F1 general manager Bernie Ecclestone made the announcement, claiming he passed away on Sunday.
“He died last night,” Mr Ecclestone said. “He was like family to me. We were like brothers. I am happy in a way because he has suffered for too long. “
In addition to his years at the top of the motorsport world, Mr. Mosley was known for his campaign efforts to strengthen press regulations.
He took the News Of The World to court in 2008 after the newspaper published allegations about his privacy, successfully suing his editor after falsely reporting he attended a Nazi-themed sex party . He subsequently provided financial support for the legal costs of plaintiffs in newspaper phone hacking cases.
Born in London on April 13, 1940, Mr. Mosley was the youngest son of the British fascist leader of the 1930s, Sir Oswald Mosley.
He was a racing driver and lawyer before becoming president of the Fédération Internationale de l’Automobile (FIA), the governing body of Formula 1, in 1993, after having held previous administrative functions in motorsport, including at within Formula 1. He served four terms as president before stepping down in 2009.
Following the death of Brazilian pilot Ayrton Senna in 1994, Mr Mosley instituted comprehensive sports safety reform. Two years later, in 1996, he led the FIA’s successful campaign to modernize and strengthen EU crash test standards for the first time since 1974.
He has received numerous government and industry awards, including the National Legion of Honor ‘in 2006, in recognition of his contribution to road safety and motorsport.