Mike Lynch, the British tech tycoon, is among six people reported missing after a superyacht sank off the coast of Sicily. Lynch, 59, is known for founding Invoke Capital and Autonomy Corporation. Recently, he was in the spotlight after being cleared of charges in a high-profile fraud case.
Mike Lynch in 2011 (PA Archive)
Table of Contents
The Tragic Incident
The superyacht, named Bayesian, went down in bad weather near the Sicilian capital, Palermo, in the early hours of Monday. The vessel had 12 guests and 10 crew members on board. Among the rescued is Lynch’s wife, Angela Bacares, but Lynch remains unaccounted for.
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Rescue and Recovery Efforts
Rescue teams have saved 15 people so far, but a body believed to be that of the yacht’s chef has been found. Local media released images showing a body bag being brought ashore, where ambulances were stationed.
Divers are helping in the search for those missing from the yacht off the coast of Sicily
Mike Lynch: The “British Bill Gates”
Mike Lynch, once dubbed the “British Bill Gates,” was valued at £852 million in 2023 by the Sunday Times Rich List. His current net worth is estimated at $1 billion. His disappearance comes just weeks after he was acquitted of all charges in a U.S. trial related to the sale of his software company, Autonomy, to Hewlett-Packard (HP) in 2011.
Mike Lynch and his wife
A Legacy of Innovation
Lynch founded Autonomy in 1996, leveraging technology developed during his time at the University of Cambridge. His journey from a scholarship-winning student to a billionaire entrepreneur is a remarkable story. Despite his recent legal battles, Lynch continued to influence the tech world through his venture capital firm, Invoke Capital.
A survivor leaves the Coast Guard Headquarters after a sailboat sank in the early hours of Monday, off the coast of Ponticello, near the Sicilian city of Palermo, Italy, August 19
The Legal Battle with Hewlett-Packard
After selling Autonomy to HP for $11 billion, the company accused Lynch of using accounting tricks to inflate its value. Lynch was extradited to the U.S. for a trial in May last year, where he was acquitted on all 15 counts. In an interview with Radio 4, Lynch described his acquittal as “indescribable,” emphasizing the financial strain that legal battles impose on individuals.
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Early Life and Career
Born near Chelmsford, Essex, to a nurse and a fireman, Lynch was encouraged to pursue education. He won a scholarship to Bancroft’s School at 11 and later studied natural sciences at the University of Cambridge. In the 1980s, he founded his first company with a £2,000 loan, producing audio products for the recording industry.
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Continuing Influence and Ventures
Despite the legal turmoil, Lynch remains a significant figure in the tech industry. He serves on the advisory board of Blinkx, a video-search engine that spun off from Autonomy, and manages Invoke Capital, a UK-based venture capital firm focused on European technology startups.
A British mother, named as Charlotte Golunski, and her one-year-old baby were also reported to be among those rescued by a nearby sailboat
For additional details on this developing story, including updates on the rescue efforts and the investigation into the yacht’s sinking, visit our comprehensive coverage on the missing Superyatcht and Mike Lynch. Stay informed as new information emerges. You may see this article as well.