The record-breaking attempt required 600 balloons
Ian Ashpole, from Ross-on-Wye, reached a height of 11,000ft, while strapped to 600 balloons in a harness.
He realised a childhood dream and beat the previous world record of 10,000ft, which he set himself in 1996, although he had hoped to reach 15,000ft.
Once he ascended to the record height at the North London Parachute Centre, Chatteris, Cambridgeshire, on Sunday, Mr Ashpole, cut himself adrift with a knife and parachuted back to earth.
Afterwards he said: "It's a childhood dream.
"I saw a film called The Red Balloon, in which a boy floats off on balloons, when I was a child and ever since I've wanted to do it."
Mr Ashpole had risen to 5,000ft attached to a support balloon to give him enough height to be able to parachute safely to the ground.
Dramatic moment
He then released himself and rose a further 6,000ft at an initial rate of around 1,000ft a minute.
He admitted to being mildly apprehensive before trying the stunt, which was quite eventful.
He said: "The one worrying moment came when I released myself from the support balloon and began to spin quite dramatically.
"It got to a point where a lot of balloons were starting to burst - it was
like machine guns going off - and I cut myself free without any problem."
His wife Louise Ashpole said: "I don't understand it. I have no idea why he wants to do it.
"It's obviously great fun for him. I don't think I could stop him doing it if I wanted to."