Technology
Monday, August 19th, 2024 2:14 pm EDT
Key Points
- British tech entrepreneur Mike Lynch is missing after the superyacht Bayesian capsized off the coast of Sicily due to a violent storm. His wife, Angela Bacares, was rescued.
- The yacht was carrying 22 passengers, of which 15 were rescued, including a one-year-old baby. However, at least one man has died, and six others remain missing, according to local officials.
- Lynch, 59, is the founder of the software firm Autonomy and was recently acquitted of fraud charges after a legal battle with Hewlett-Packard over a disputed $11 billion acquisition deal.
British tech entrepreneur Mike Lynch is missing following the sinking of a superyacht off the coast of Sicily. According to sources familiar with the situation, Lynch’s wife, Angela Bacares, was rescued after the incident. The superyacht, named Bayesian, capsized around 5 a.m. local time while anchored near Porticello, a fishing village in Palermo, Italy. The yacht, reportedly carrying 22 passengers, was hit by a violent storm, leading to the tragic sinking. Local officials confirmed that at least one man has died, six people are missing, and 15 others, including a one-year-old baby, were rescued by Italian coastguards and firefighters.
The Bayesian reportedly “suddenly sank” due to severe weather conditions, according to a statement from the City Council of Bagheria. Search and rescue operations continue, with authorities from Italy’s coastguard and local firefighters working tirelessly to find the missing passengers, which include four Britons, two Americans, and a Canadian. Ambulances and law enforcement vehicles were seen parked near the harbor as the search persists.
Mike Lynch, 59, is best known as the founder of Autonomy, a major enterprise software company. He was embroiled in a long-running legal dispute with Hewlett-Packard (HP) after the U.S. tech company accused him of inflating Autonomy’s value during an $11 billion acquisition deal. Following the sale, HP took an $8.8 billion writedown, which led to allegations of fraud against Lynch. In 2023, Lynch was extradited from the UK to the U.S. to face trial. However, he was acquitted of fraud charges after a three-month trial concluded in June 2024.
Lynch’s disappearance comes amid the ongoing legal and personal challenges he faced, and the search efforts for him and the other missing passengers remain active. This tragic incident has drawn significant media attention, particularly given Lynch’s high-profile status in the tech world and his recent legal battles. While the cause of the sinking has been attributed to extreme weather, authorities continue to investigate the circumstances surrounding the yacht’s tragic capsize.
For the full original article on CNBC, please click here: https://www.cnbc.com/2024/08/19/mike-lynch-reported-missing-after-superyacht-sinks-off-sicily.html
