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Who’s Missing From Sunken Yacht? Tech Mogul Mike Lynch and 5 Others.

Mr. Lynch, the former chief executive of the software firm Autonomy, who was acquitted on fraud charges in June, was with friends and family when the yacht went down in a severe storm.

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By Michael J. de la Merced

Michael de la Merced reported on Mike Lynch’s career and legal battles over the course of 13 years across two continents.

A cruise on the Mediterranean Sea aboard a superyacht was supposed to be a celebratory event for the British tech entrepreneur Mike Lynch , who was acquitted in June of fraud charges tied to the sale of his company, Autonomy, to the tech giant Hewlett-Packard.

Instead, it turned into a disaster after the yacht, a 180-foot boat called the Bayesian, sank off the coast of Sicily in a violent storm. Of the 22 passengers aboard, 15 were rescued, one body was recovered and six were still missing. Search operations at the site of the sunken yacht were continuing on Tuesday.

Here’s what we know about the passengers.

Mike Lynch and his family

Mr. Lynch, 59, is a British software entrepreneur who had once been described as his country’s Bill Gates. He founded the software firm Autonomy, which analyzed clients’ unorganized data, and turned it into one of the most prominent British technology companies of its time. He became a widely known corporate leader, who advised David Cameron, the British prime minister at the time, and joined the board of the BBC.

In 2011, Mr. Lynch sold Autonomy to Hewlett-Packard for $11 billion, which was far above its market value, earning him hundreds of millions. But HP investors almost immediately soured on the transaction, and the American tech giant quickly fired its chief executive — and then Mr. Lynch.

HP later accused Mr. Lynch of misleading it about the state of Autonomy’s business, setting off a decade-long legal ordeal for the British executive, who denied the accusations. U.S. prosecutors charged him and other executives with fraud, and Autonomy’s chief financial officer was convicted in 2018.

Despite appeals to the British government, Mr. Lynch was extradited to the United States last year and was confined to a townhouse in San Francisco ahead of his criminal trial, which began in March. Facing the possibility of decades in prison if convicted, Mr. Lynch and another colleague were instead acquitted of all charges.

Mr. Lynch’s wife, Angela Bacares, 57, accompanied him on the yacht, and she was rescued on Monday when it sank. She was a consistent presence at his trial in the United States. Records show that she controlled Revtom, the company listed as the owner of the Bayesian.

Hannah Lynch, Mr. Lynch and Ms. Bacares’s 18-year-old daughter, was also on the yacht and was among those who were still missing.

The other guests

Among those unaccounted for is Jonathan Bloomer, 70, chair of Morgan Stanley’s international arm and the chairman of Hiscox, an insurance provider that trades on the London Stock Exchange. His wife, Judy Bloomer, 71, is also listed as missing.

“Our thoughts are with all those affected, in particular the Bloomer family, as we all wait for further news from this terrible situation,” Morgan Stanley said in a statement.

Christopher J. Morvillo, 59, a New York-based partner at the international law firm Clifford Chance, is also among those missing. A former federal prosecutor who comes from a family of prominent lawyers, Mr. Morvillo represented Mr. Lynch during his criminal trial in San Francisco. His wife, Neda, 57, was with him on the yacht and is also among those confirmed as missing.

“We are in shock and deeply saddened by this tragic incident,” a representative of Clifford Chance said in a statement.

Survivors include Charlotte Golunski, a partner at Mr. Lynch’s venture firm, Invoke Capital; Ms. Golunski’s husband, James Emslie; and their 1-year-old daughter Sophie. Also rescued were Ayla Ronald, a lawyer at Clifford Chance, and her partner, Matthew Fletcher.

The yacht had a crew of 10. The body of the chef, Recaldo Thomas, was recovered from the water, the Sicilian Civil Protection Department said.

Elisabetta Povoledo contributed reporting, and Kitty Bennett and Susan Campbell Beachy contributed research.

Michael J. de la Merced has covered global business and finance news for The Times since 2006. More about Michael J. de la Merced

Review of Elliott 11

Basic specs., sailing characteristics.

This section covers widely used rules of thumb to describe the sailing characteristics. Please note that even though the calculations are correct, the interpretation of the results might not be valid for extreme boats.

What is Capsize Screening Formula (CSF)?

The capsize screening value for Elliott 11 is 2.24, indicating that this boat would not be accepted to participate in ocean races.

What is Theoretical Maximum Hull Speed?

The theoretical maximal speed of a displacement boat of this length is 7.8 knots. The term "Theoretical Maximum Hull Speed" is widely used even though a boat can sail faster. The term shall be interpreted as above the theoretical speed a great additional power is necessary for a small gain in speed.

The immersion rate is defined as the weight required to sink the boat a certain level. The immersion rate for Elliott 11 is about 236 kg/cm, alternatively 1326 lbs/inch. Meaning: if you load 236 kg cargo on the boat then it will sink 1 cm. Alternatively, if you load 1326 lbs cargo on the boat it will sink 1 inch.

Sailing statistics

This section is statistical comparison with similar boats of the same category. The basis of the following statistical computations is our unique database with more than 26,000 different boat types and 350,000 data points.

What is Motion Comfort Ratio (MCR)?

What is L/B (Length Beam Ratio)?

What is Displacement Length Ratio?

SA/D (Sail Area Displacement ratio) Indicates how fast the boat is in light wind: - Cruising Boats have ratios 10-15 - Cruiser-Racers have ratios 16-20 - Racers have ratios above 20 - High-Performance Racers have ratios above 24 Sail-area/displacement ratio (SA/D ratio): 33.67

Maintenance

If you need to renew parts of your running rig and is not quite sure of the dimensions, you may find the estimates computed below useful.

This section is reserved boat owner's modifications, improvements, etc. Here you might find (or contribute with) inspiration for your boat.

Do you have changes/improvements you would like to share? Upload a photo and describe what you have done.

We are always looking for new photos. If you can contribute with photos for Elliott 11 it would be a great help.

If you have any comments to the review, improvement suggestions, or the like, feel free to contact us . Criticism helps us to improve.

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Published on June 17th, 2024 | by Editor

Keel failure leads to fatality

Published on June 17th, 2024 by Editor -->

The search for a sailor who went missing when a yacht lost its keel and overturned, ended in tragedy after his body was recovered.

The 36-foot Runaway, a Sayer 11 built in 2003, was traveling south along Australia’s east coast from Yeppoon to Brisbane when an EPIRB was activated about four nautical miles south of Lady Elliot Island at 5:00 am on June 16.

The missing person, a 65-year-old man, was one of three people onboard the vessel which was found shortly after 10:15 am with two other men in the water. RACQ LifeFlight said the father and son had managed to climb onto the upside-down vessel to raise the alarm.

Police said a 62-year-old man and 27-year-old man were taken to Bundaberg Hospital where they remained in a stable condition. They said the body of the 65-year-old man was found shortly after 2:00 pm. Police said all three men were from Yeppoon.

The water ballasted yacht was designed and build by Jon Sayer, notable with its flared topsides for the water tanks and crew weight leverage, and had been raced extensively offshore.

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Who Is Mike Lynch? British Tech Billionaire and Others Still Missing After Yacht Sinks.

U .K. tech entrepreneur Mike Lynch, once called “Britain’s Bill Gates,” was celebrating his recent acquittal from U.S. federal fraud charges when he and several other individuals went missing after a violent storm caused the luxury super yacht they were aboard to sink off the Sicilian coast.

The yacht had 22 people aboard. As of Monday evening, the missing included Lynch, one of his daughters, two other British nationals, two Americans, and one crew member, The Wall Street Journal reported, citing the Italian Coast Guard. Fifteen were rescued, including a one-year-old baby girl and Lynch’s wife, Angela Bacares.

Here is more about the businessman and the latest news on recovery efforts.

Mike Lynch Is Known as ‘Britain’s Bill Gates’

Lynch, 59, founded software company Autonomy in the 1990s, which was bought by American tech company Hewlett Packard for $11 billion in 2011 before the latter company split into two separate entities in 2015.

Autonomy was a rare European technology company that reached significant scale, eventually entering London’s FTSE 100 index of largest companies before its sale. Its software relied on so-called Bayesian mathematics, named for the 18th century British statistician and Presbyterian minister Thomas Bayes. The yacht that sank was named the Bayesian.

Lynch more recently has run Invoke Capital, a venture-capital investment firm. One of its portfolio companies, Darktrace, used artificial intelligence to detect cyberattacks and went public in 2021. Chamberlain’s LinkedIn profile says he was an executive at Darktrace until 2023.

Lynch’s Autonomy Sale Went Badly

Shortly after completing the acquisition of Autonomy, HP reported a write-down of $8.8 billion—including more than $5 billion it attributed to inflated data from Autonomy.

The Autonomy takeover led to the subsequent ouster of Leo Apotheker as HP chief executive in September 2011 and the end of plans to reinvent the company as a full software-and-services provider.

Lynch Was Cleared of Wrongdoing

Lynch was charged in 2018 with conspiring to artificially drive up the Autonomy’s value ahead of the sale, which earned him personally around $815 million.

Lynch fought those fraud accusations for more than a decade.

Lynch was extradited to the U.S. from Britain to stand trial on the criminal charges, which could have put him in prison for as long as 25 years. He was acquitted earlier this year on all charges, including conspiracy and wire fraud.

Former Autonomy vice president for finance Steve Chamberlain, who was also cleared of fraud charges, died after he was hit by a car on Saturday while out running in the U.K., Reuters reported. His LinkedIn profile said since the acquittal in June he wanted to help growing companies.

Who Is Still Missing; Updates on the Rescue Operation

Lynch’s 18-year-old daughter and Jonathan Bloomer, who served as chair of Morgan Stanley International and on other boards, are missing, according to The Times.

The Wall Street Journal reported that a lawyer who worked on Lynch’s fraud case was among those rescued. She was on the boat to celebrate his acquittal, the report said.

The yacht named was anchored off the coast of Porticello near Palermo, Italy.

Corrections & Amplifications: The one-year-old baby that was rescued isn’t the daughter of Mike Lynch. A previous version of this article incorrectly said the child was related.

Write to Adam Clark at [email protected]

Superyacht sinks latest: Mother of crew survivor speaks out; CCTV captures yacht seconds before it sinks

The search for six people missing after a superyacht sank in a tornado off Sicily continues. Listen to a Daily podcast special as you scroll - as our correspondents and guests examine why the disaster happened.

Tuesday 20 August 2024 22:53, UK

• Superyacht sinking
• Search for survivors after superyacht disaster in 'critical 24 hours'
• Six missing - including tech boss, Morgan Stanley executive and top lawyer
• Crew survivor 'spared by grace of God' - as staff named
• Captain speaks out for first time
• Divers limited to 10 minutes underwater struggle to access cabins
• Watch: CCTV captures yacht seconds before it sinks
• Explained: What causes waterspouts? | Inside the superyacht
• Listen to the Daily podcast above and tap here to follow wherever you get your podcasts

We're pausing our coverage for tonight but here is a recap of what we know:

• Six people are still missing after the sinking of the Bayesian superyacht, with rescue teams searching off the Sicilian coast for survivors;
• The Italian coastguard confirmed that the body found after the yacht sank yesterday is that of chef Recaldo Thomas;
• The coastguard also named more survivors - Leah Randall, Katja Chicken and Leo Eppel;
• An engineer who led the salvage operation for the wrecked cruise ship Costa Concordia said rescue divers have entered a "critical" 24 hours; 
• The captain of Bayesian spoke for the first time, saying: "We didn't see it coming" in reference to the storm that sank the boat.

Images are emerging of emergency crews working near the site where the yacht sank in Porticello.

Search and rescue efforts by sea and air have so far delivered no results and experts have said we are in a "critical" 24 hours.

Bayesian was moored around half-a-mile off the coast of Porticello when it sank at around 5am local time yesterday.

A friend of Recaldo Thomas, the chef who was killed as the yacht sank, has described him as a "calm spirit" who had a "smile that lit up the room".

Gareth Williams, who grew up with Mr Thomas in Antigua, told the BBC : "I can talk for everyone that knew him when I say he was a well-loved, kind human being with a calm spirit.

"He would come over to mine over the weekend and he would sing. He had the deepest, most sultry voice in the world, and a smile that lit up the room.

"He told me just the other day that he needed to work two more seasons to fix up his late parents' house. He loved yachting, but he was tired."

Mr Thomas was also a Canadian citizen. The country's foreign ministry said it was "aware of reports that a Canadian citizen has died" and that consular officials were in contact with local authorities.

Mike Lynch "lost the last 12 years fighting a ridiculous case", his co-founder has told Sky News.

David Tabizel, who founded the software company Autonomy with Mr Lynch - the sale of which became the subject of the US fraud case - said he was a "legend" and that he had a "very soft spot for him".

"I'm just heartbroken for him and his family and I hope there's a miracle about to occur," he said.

Mr Tabizel said Mr Lynch's "resilience" and "importance to British economy cannot be overstated". 

"Now he has passed through this great trauma we were hoping he would lead a new national revolution to help Britain out of its current moribund state," he said.

"If anyone has the resilience to survive this - he does. And I hope he's found an air pocket."

Mr Tabizel added: "He has been one of the most influential, intelligent and most honourable human beings I have ever had the honour of knowing."

Mr Lynch sold Autonomy to US computing giant Hewlett-Packard for $11bn (£8.6bn).

He was accused of conspiracy and attempted fraud over the sale to HP and an intense, multiyear legal battle in the US ensued.

He was acquitted of multiple fraud charges in June after more than a year under house arrest.

CCTV footage showing the yacht moments before it sank has been released.

We reported on separate footage earlier, shot from a villa 200m away from the site of the disaster in Porticello.

The owner of the villa told outlet Giornale Di Sicilia the shots showed the boat sinking in 60 seconds: "You can clearly see what is happening. There was nothing that could be done for the vessel. It disappeared in a very short time."

Experts have said we're in a critical 24 hours in the search for survivors.

Earlier, Nick Sloane, who led the salvage operation for the wrecked cruise ship Costa Concordia, said survivors might be trapped in air pockets, but that time was running out to save them (see post at 12.50pm).

Now Dr Jean-Baptiste Souppez, senior lecturer in mechanical engineering at Aston University, has said the speed at which the vessel sank (a few minutes, according to accounts) and the fact that it remains intact "could favour the formation of small air pockets inside".

While the formation is "highly speculative", he says, there are records of survivors found in such pockets.

"A sign the rescuers may be looking for is a banging noise at regular intervals: this is common practice on submarines, and was one of the signs the search mission for the Titan submarine was looking for after it went missing last year," he says.

"But whether air pockets formed on the Bayesian is simply impossible to predict."

There is a "big question mark" over how the superyacht sunk, the editor-in-chief of BOAT International has told Sky News.

Stewart Campbell said "nothing like this had happened before" in his recollection.

"These boats are built extremely tough. They are built to take on the biggest seas the ocean can throw at them," he said.

"Big volume aluminium boats are very capable. So the fact that a boat like Bayesian can sink in a storm like this is incredibly surprising."

He said even if a ship like this was knocked down "it should be been able to right itself".

"Even if the boat had been dismasted, theoretically the boat should have been even more stable as it would have meant less weight and the keel would then have anchored the boat more firmly in the sea.

"There are lots of questions to be answered.

"At the moment from my point of view and from the people I have spoken to, including captains of similar boats, there is a big question mark over how this happened."

The action of the boat when it was struck by the storm "would have been incredibly violent" and "it should have woken everybody up".

"The crew would have sprung into action and tried to get everyone into life rafts if they thought the boat was in danger," he said.

"We just don't know what situation the boat was in when this storm struck."

The life raft on which survivors are understood to have escaped the sinking yacht has been pictured in the harbour at Porticello in Sicily. 

Earlier, Karsten Borner, the captain of a boat that came to their aide, described how he and his crew found the raft with 15 survivors inside and brought them to his ship until help arrived.

He described the situation as "awful and traumatic" for those involved - you can read his comments in full in our post at 10.55am.

Why did the yacht sink? What is happening with the investigation? Who is missing - and why are conspiracy theories already brewing?

Our correspondent Ashna Hurynag, who is at the scene in Sicily, and Danny Fortson, West Coast correspondent for The Sunday Times, who interviewed missing Mike Lynch only weeks ago, answer these questions on today's episode of the Daily podcast, with host Niall Paterson.

You can listen above - and  tap here  to follow wherever you get your podcasts.

 The mother of one of the survivors has said she is "beyond relieved" her daughter's life was spared.

Heidi Randall, the mother of crew member Leah Randall, told Sky News: "I'm beyond relieved that my daughter's life was spared by the grace of God. 

"It doesn't make it any easier living with the heartache of those who have lost their lives or are missing. 

"My very deepest condolences to the chef's family as they formed a great friendship."

Leah Randall, from South Africa, was photographed leaving the coastguard headquarters yesterday, alongside Katja Chicken, her fellow crew member.

The Italian coastguard has also confirmed the name of another crew member.

Leo Eppel was also working on the yacht, spokesman Vincenzo Zagarola said.

Be the first to get Breaking News

Install the Sky News app for free

Mike Lynch, recently acquitted in HP-Autonomy fraud case, is missing after yacht capsized off Sicily (updated)

Update : Authorities have yet to access the inside of the sunken yacht, and Mike Lynch is still classified as missing. Other details have emerged in the interim.

The accident appears to have been caused by a major storm and a resulting tornado-like water column that ensnared and damaged the yacht. Among the other six people still missing are Lynch’s 18-year-old daughter and Morgan Stanley International chairman Jonathan Bloomer. The voyage was to celebrate Lynch being acquitted of criminal charges in the U.S., and several members of his legal team were also on board. (The ship was registered to Lynch’s wife, one of the survivors.) By a terrible coincidence, the other person acquitted in Lynch’s trial — Autonomy’s finance head Stephen Chamberlain — had died just a few days before when he was hit by a car while out jogging. Original article continues below.

Mike Lynch, the investor and high-profile founder of U.K. tech firm Autonomy, has been declared missing at sea after the yacht he was on, the Bayesian , capsized in a storm off the coast of Sicily early Monday morning.

TechCrunch confirmed with a source close to the rescue operation that Lynch is one of six people missing from the boat. Lynch’s wife, Angela Bacares, is one of the 15 who have been rescued. One body has been found.

The news is a dramatic, tragic development for one of the more colorful, and sometimes controversial, figures in technology out of the U.K.

Lynch’s enterprise technology firm Autonomy was acquired in 2011 by HP for $11 billion — a major milestone for U.K. technology. But it quickly turned sour, and HP sued Lynch and other executives at the company, arguing it was misled in the transaction.

HP claimed that the deal led to a $4 billion loss — money it then demanded from Lynch and his former CFO. Lynch (pictured above, left) long asserted that he acted in good faith and that he was being made into a scapegoat over a merger gone bad.

That legal drama went on for more than a decade and involved a host of other thorny chapters, including Lynch’s extradition to the U.S. and a lot of very bad publicity for Lynch. It also led to a second civil case that took place in 2022 in the U.K., which Lynch lost.

The U.S. criminal case, where Lynch was charged with 15 counts of fraud and conspiracy, went to trial earlier this year in San Francisco. Finally, in June, Lynch was acquitted .

“I am elated with today’s verdict and grateful to the jury for their attention to the facts over the last ten weeks. My deepest thanks go to my legal team for their tireless work on my behalf,” Lynch said at the time. “I am looking forward to returning to the UK and getting back to what I love most: my family and innovating in my field.”

In the interim years, Lynch built up a profile in the U.K. as an investor, most prominently as the founder of Invoke Capital . The VC firm was the biggest investor in cybersecurity firm Darktrace, a connection that was not without its own controversy . It also invested in Sophia Genetics , Featurespace and Luminance, among others. And it appeared that this is the route that he was set to continue.

Our thoughts go out to his family, friends and colleagues. We’ll update this post as we learn more.

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UK's Mike Lynch missing after yacht sinks off Sicily, source says

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Who is Mike Lynch, the British tech entrepreneur missing after yacht sank?

Lynch, once considered the 'british bill gates,' is one of several missing after superyacht bayesian sank off the coast of italy.

FOX Business Flash top headlines for August 19

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Prominent U.K. tech tycoon Mike Lynch, once considered the "British Bill Gates," is missing after the sinking of a superyacht off the coast of Italy on Monday.

The news comes just months after the entrepreneur was acquitted on fraud charges by a San Francisco jury, ending more than a decade of legal battles stemming from the sale of his company to Hewlett-Packard in 2011.

Mike Lynch, former chief executive officer of Autonomy Corp., reacts during an interview in London, on Nov. 13, 2014. At the time, Lynch was awaiting a final decision by the U.K. government over his extradition to the U.S. to face criminal fraud char (Chris Ratcliffe/Bloomberg via Getty Images / Getty Images)

Lynch, 59, earned a PhD from Cambridge before co-founding software firm Autonomy in 1996. Under his direction as chief executive, the company grew to become the largest tech firm in the U.K., and he became one of Britain's wealthiest men when he sold it for more than $11 billion to HP.

Hewlett Packard Enterprise Co.

But shortly after the sale, Lynch was fired from his CEO position at Autonomy, and HP wrote down the company by $8.8 billion within a year, accusing Lynch of cooking the books to inflate its value.

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The U.S. and U.K. both launched investigations into the allegations, and the U.S. formally requested Lynch's extradition to the U.S. in 2019 to face several charges including securities fraud, wire fraud and conspiracy.

Mike Lynch, former chief executive officer of Autonomy Corp., arrives at federal court in San Francisco, California, on March 18, 2024. Lynch was facing several counts of wire fraud, one count of securities fraud and one count of conspiracy to commit (Loren Elliott/Bloomberg via Getty Images / Getty Images)

According to The Sunday Times , Lynch, who is married and has two daughters, ages 18 and 21, was extradited from Britain in May of last year and spent 13 months on house arrest in San Francisco while he awaited trial. He was acquitted on all 15 charges in June.

"I am elated with today's verdict," Lynch said in a statement following his acquittal. "I am looking forward to returning to the U.K. and getting back to what I love most: my family and innovating in my field."

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HP largely won a civil lawsuit against Lynch and another former Autonomy executive in London in 2022, though damages have not yet been decided. The company is seeking $4 billion. In a sit-down with The Times last month, Lynch said he plans to appeal that verdict.

Mike Lynch, former CEO of Autonomy Corp., in London, U.K., on July 8, 2014.  (Simon Dawson/Bloomberg via Getty Images / Getty Images)

On the news of Lynch going missing on Monday, the author of The Times piece, Danny Fortson, wrote on X, "I am reeling from this news about Mike Lynch. The terrible irony is that when we sat down last month, he made it clear that he felt he had won a new lease on life, that his acquittal in America gave him a ‘second life.’"

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Lynch is among six people, including two Americans, missing after the 184-foot British-flagged yacht Bayesian capsized and sank off Sicily in bad weather early Monday. At least one person died, and 15 people were rescued, including a 1-year-old girl, authorities said.

FOX News' Pilar Arias and Reuters contributed to this report.

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