59-year-old British tech billionaire Mike Lynch, commonly referred to as ‘Britain’s Bill Gates’ is among individuals who have gone missing after a luxury boat sank on the coast of Sicily, Italy.
Lynch is reported to have invited close family and friends to the yacht to celebrate his victory over fraud charges in the United States on Monday, August 19.
However, a tornado hit the luxury yacht they were riding on, sinking it off the coast of Sicily.
Lynch and his 18-year-old daughter Hannah are among six individuals who remain missing as rescue operations continue.
The luxury yacht Lynch was riding on, the Bayesian, is linked to his wife, Angela Bacares, who owns the Isle of Man-registered Revtom Limited, a company that owns the vessel.
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Billionaire’s Lawyer Also Missing
Others declared missing include Lynch’s lawyer Chris Morvillo, two Americans and one Canadian citizen.
On the other hand, his wife, Angela Bacares, was rescued by the captain of a Dutch sailing ship called the Sir Robert BP, along with 15 others who were on board Lynch’s boat, the Bayesian
In addition to rescue divers, Italian authorities have mobilized helicopters, patrol boats and firefighters to assist with the search.
At the same time, a spokesperson for the United Kingdom’s Foreign, Commonwealth and Development Office said the department would provide support for the British nationals.
“We are providing consular support to a number of British nationals and their families following an incident in Sicily, and are in contact with the local authorities,” a statement from the UK read in part.
It is believed that nearly all 22 people on board were asleep in their cabins when the boat began to sink. Local sailors reportedly found only one life raft before the Coast Guard arrived.
In the life raft was a baby.
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Who is Tech Billionaire Mike Lynch
Lynch has accumulated much of his wealth from cofounding Autonomy, a tech company that Hewlett-Packard (HP) acquired for $11 billion in 2011.
Recently, his attorney disclosed that the entrepreneur’s net worth is approximately $450 million (KSh57.82 billion).
The sale of Autonomy was one of the largest British tech deals of its time, but it quickly turned sour.
While the acquisition was intended to boost HP’s software business, the deal has been mired in legal issues, ultimately leading to a fraud trial.
However, in June 2024, a U.S. court acquitted the billionaire of 15 counts of fraud that were brought after the sale of Autonomy to Hewlett-Packard in 2011.
Two days before the yacht sank, Lynch’s co-defendant in his fraud trial Stephen Chamberlain died in hospital after being hit by a car while out on a run.
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