Mike Lynch, a prominent 59-year-old British tech entrepreneur, has gone missing after a superyacht sank off the coast of Sicily, Italy. The luxury vessel, named Bayesian, was struck by a tornado early Monday, leading to its tragic demise. Lynch, who is best known for cofounding the tech company Autonomy, was among the passengers aboard the yacht when the incident occurred.
Lynch’s career in the tech industry has been marked by significant achievements and controversies. He rose to prominence after cofounding Autonomy in 1996, a company that quickly became Britain’s largest software firm and earned a place on the blue-chip FTSE 100 index. Autonomy’s success was notable in the tech world, and Lynch himself was highly regarded by academics and scientists alike. His expertise even led to invitations from the British government to advise on technology and innovation.
In 2011, Autonomy was sold to Hewlett-Packard (HP) for an astounding $11 billion, marking one of the largest tech deals in British history. However, the sale soon turned problematic as HP wrote down Autonomy’s value by $8.8 billion within a year of the acquisition. The deal, intended to boost HP’s software business, instead became mired in legal battles.
Lynch, along with former Autonomy finance executive Stephen Chamberlain, faced accusations of inflating the company’s revenue figures prior to the sale. The legal proceedings culminated in a high-profile fraud trial, where Lynch was ultimately acquitted of all charges, including conspiracy and wire fraud, in a San Francisco court in June of this year. His total wealth is currently estimated at around $450 million.
The superyacht Bayesian, linked to Lynch’s wife, Angela Bacares, was registered under Revtom Limited, a company owned by Bacares and based in the Isle of Man. The 56-meter vessel was carrying several passengers when it encountered the severe weather that led to its sinking. Bacares was among those who were rescued from the disaster.
Rescue efforts were promptly initiated, with fifteen individuals being saved from the wreckage. A child was among the survivors and was airlifted to a children’s hospital in Palermo, while a total of eight people required hospitalization. Tragically, one body was discovered on the hull of the yacht, according to the Italian Coast Guard.
The sinking of the Bayesian marks a somber chapter in what has already been a turbulent period for Lynch. As authorities continue their search efforts, the tech world watches closely, hoping for his safe return. Lynch’s absence leaves a significant void in the industry, where his influence and contributions have been widely acknowledged, despite the controversies that have surrounded his career.
The investigation into the cause of the accident is ongoing, with authorities examining the circumstances surrounding the sudden and devastating storm that led to the yacht’s demise. The incident has not only shocked the business community but also serves as a stark reminder of the unpredictability of nature and its potential to upend even the most secure and luxurious of settings.
