West Yorkshire police said Jimi Heselden, 62, was found in the River Wharfe, at Boston Spa, near Wetherby, on Sunday.
"The incident is not believed to be suspicious and the coroner has been informed," a police spokesman said.
[Jimi Heselden and, inset, a model of the Segway that he made and marketed.]
Heselden made his fortune when his Leeds-based firm Hesco Bastion developed the "blast wall" basket, which protect soldiers in Afghanistan and Iraq, as a replacement for traditional sandbags.
Last year he led a British team which bought the US-based Segway firm that makes and distributes the distinctive two-wheeled self-balancing scooters.
The chief executive of Leeds City Council, Tom Riordan, said councillors were "devastated and saddened" to learn of Heselden's death.
"Jimi was an amazing man who, apart from being a wonderful success story for Leeds due to his business acumen, was also remarkably selfless and generous, giving millions to local charities to help people in his home city," Riordan said.
"As a council we enjoyed great success with Jimi and Hesco Bastion, working together with them to achieve a historic gold medal for the city at this year's Chelsea Flower Show, and everyone who knew him will remember his quiet manner, good nature and tremendous pride in being from Leeds."
PA
"The incident is not believed to be suspicious and the coroner has been informed," a police spokesman said.
[Jimi Heselden and, inset, a model of the Segway that he made and marketed.] Last year he led a British team which bought the US-based Segway firm that makes and distributes the distinctive two-wheeled self-balancing scooters.
The chief executive of Leeds City Council, Tom Riordan, said councillors were "devastated and saddened" to learn of Heselden's death.
"Jimi was an amazing man who, apart from being a wonderful success story for Leeds due to his business acumen, was also remarkably selfless and generous, giving millions to local charities to help people in his home city," Riordan said.
"As a council we enjoyed great success with Jimi and Hesco Bastion, working together with them to achieve a historic gold medal for the city at this year's Chelsea Flower Show, and everyone who knew him will remember his quiet manner, good nature and tremendous pride in being from Leeds."
PA
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