Future Retirement Success
  • Politics
  • Business
  • Investing
  • Stocks
  • Politics
  • Business
  • Investing
  • Stocks

Future Retirement Success

Business

Tech tycoon Mike Lynch missing after yacht sinks off Sicily, weeks after £8bn fraud acquittal

by August 19, 2024
August 19, 2024
Tech tycoon Mike Lynch missing after yacht sinks off Sicily, weeks after £8bn fraud acquittal

Mike Lynch, the British tech entrepreneur recently acquitted in a high-stakes £8bn fraud case, is missing after his yacht sank off the coast of Sicily.

The incident occurred just weeks after Lynch’s remarkable legal victory, which saw him cleared of fraud charges in a US court following a 13-year legal battle with technology giant HP.

Lynch, often dubbed “Britain’s Bill Gates,” was aboard his 56-metre yacht, Bayesian, named after the statistical method central to his academic work, when it was caught in a freak tornado off the coast of Palermo. His wife, Angela Bacares, and several other passengers were rescued, but Lynch, his daughter Hannah, and several others are still missing.

The sinking marks a tragic turn of events for Lynch, who had recently celebrated his acquittal and expressed intentions to challenge the UK’s extradition laws. Lynch, who founded the software company Autonomy before selling it to HP for over £8bn in 2011, had faced allegations of inflating the company’s value to secure the sale. Despite losing a civil case in the UK, Lynch was found not guilty in a criminal trial in the US, a verdict that few expected.

Lynch’s yacht had been travelling along the Sicilian coast when it encountered the storm. Local fishermen described seeing the vessel in distress before it sank, leaving wreckage scattered on the sea’s surface. Italian authorities are continuing the search for the missing passengers, but hopes are fading.

Lynch, whose wealth was estimated at $450m, primarily lived on a farm in Suffolk, where he raised rare breeds of livestock. Known for his pioneering work in the tech industry, Lynch also played a key role in the founding of cybersecurity firm Darktrace and was a prominent investor in the tech sector through his venture capital firm, Invoke Capital.

Read more:
Tech tycoon Mike Lynch missing after yacht sinks off Sicily, weeks after £8bn fraud acquittal

0
FacebookTwitterGoogle +Pinterest
previous post
Americans Paid for the Trump Tariffs—and Would Do So Again
next post
Top Ten Charts for August: Two Magnificent 7 Stocks Worth Watching

You may also like

Electric cars drive UK MG sales to more...

October 16, 2023

Luxury retailers are choosing China over London as...

September 12, 2023

TUC urges Bank of England to halt ‘reckless’...

August 2, 2023

UK businesses plan to boost business travel spend...

October 4, 2022

How to Run a Successful Personal Injury Law...

May 9, 2024

The Ultimate Guide to Choosing the Best Marketing...

August 23, 2023

What is live shopping and will it take...

April 4, 2025

Government urged to disclose how £1.5bn raised from...

September 19, 2023

Evri Accelerates Sustainability with £19m Investment in E-Cargo...

June 24, 2024

Approvals for mortgages fall for fifth month in...

March 2, 2023

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free

    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • Trump ally stands firm against ‘big, beautiful bill’ despite pressure: ‘It’ll completely backfire’

      June 8, 2025
    • Rubio condemns assassination attempt on Colombian presidential candidate Miguel Uribe

      June 8, 2025
    • Obama WH physician says Biden doc should have performed cognitive test

      June 8, 2025
    • Trump warns of ‘serious consequences’ if Elon Musk funds Democrats

      June 7, 2025
    • Musk jokes about reconsidering stance on Big Beautiful Bill after Schiff’s praise

      June 7, 2025
    • Musk deletes explosive posts about Trump and Epstein files

      June 7, 2025

    Categories

    • Business (8,152)
    • Investing (2,019)
    • Politics (15,571)
    • Stocks (3,136)
    • About us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: futureretirementsuccess.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 futureretirementsuccess.com | All Rights Reserved