- The unaccounted-for tech magnate.
Ever since last Monday morning, billionaire tech entrepreneur Michael "Mike" Lynch from the UK has been MIA following a boating mishap off the shore of Sicily. His gigantic yacht, named "Bayesian," capsized close to the Porticello harbor in Palermo due to fierce winds around 5 a.m.
There were 22 individuals aboard, comprising 12 passengers and 10 crew members. As reported by the Financial Times, most of the passengers were believed to be relatives and friends of Lynch. Emergency services, such as the coast guard and firefighters, managed to rescue and bring ashore 15 people, including Michael's wife, Angela Bacares. Regrettably, the ship's chef tragically perished in the incident.
Search and rescue operations for the remaining six individuals have been ongoing, including Lynch's 18-year-old daughter and Jonathan Bloomer, CEO of Morgan Stanley, according to Reuters. Alongside these missing persons is Christopher Morvillo, a lawyer who had defended Lynch in court. The verdict of his lengthy U.S. trial was just in a few weeks prior, with Lynch being acquitted.
Autonomy's Sale to HP
With his flair for innovation, Lynch earned the title of "British Bill Gates" by British tabloids. After co-founding successful software firm Autonomy in the UK, the company was sold to Hewlett Packard (HP) for $11 billion in 2011, a historical turning point for European IT trade. Later valued at €9.94 billion.
The Financial Times sees Lynch as a resilient entrepreneur who has weathered significant ups and downs in his career. Following the Autonomy sale, he became a global figurehead among British CEOs. His achievements in creating successful software programs and investment in UK startups made him a prominent advocate for the British startup scene. In addition, he served as an external director of the BBC and a member of the Science and Technology Council under Prime Minister David Cameron, where he advocated for AI's importance. In 2006, he was honored with the Order of the British Empire for his contributions to business.
LP's Co-defendant Passed Away Recently
Regrettably, just one year after the HP deal, HP alleged that Lynch and other Autonomy executives had inflated the company's value by $5 billion before the sale. Rather than admit fault, Lynch and his co-defendants disputed HP's allegations in court for 12 long years. Lynch was extradited to the U.S., where he spent a year under house arrest in San Francisco. Finally, in June, a jury declared Lynch and his fellow defendant Stephen Chamberlain not guilty of all charges. On a tragic note, Chamberlain, once Autonomy's vice president of finance, passed away in the UK only two days ago following an accident while jogging.
Born in Ireland in 1965, Lynch grew up humbly as the son of a nurse and a firefighter. In 1986, he was awarded a scholarship to Bancroft's School in London. Toward the end of that year, he attended prestigious Cambridge University, where he studied physics, mathematics, and biochemistry, eventually earning his Ph.D. in mathematical data processing.
Lynch's First Business Venture
While enrolled at Cambridge as a graduate student, Lynch established his first company with a £2000 loan from a music band manager, according to The Guardian. At the time, he was an avid music fan. The company, Lynch Systems Ltd, developed audio products for the music industry. In 1991, he co-founded Cambridge Neurodynamics with a focus on biometric fingerprint recognition technology.
Autonomy, the software firm, officially launched in 1996 as a spinoff from Cambridge Neurodynamics with support from Private-Equity group Apax. Lynch and his associates, David Tabizel and Richard Gaunt, offered businesses software to effectively manage and leverage the growing digital data chaos.
Lynch's Interest in Cattle and Model Trains
Despite his professional success, Lynch's personal life remains largely unknown. Together with his wife, he has two daughters. Lynch expressed an appreciation for sheepdog trials and has devoted himself to preserving rare breeds of cattle, according to The Guardian. And fascinatingly, he enjoys keeping Koi carp and collecting model trains on his estate in southeastern England.
Despite the boating mishap, Michael Lynch's lavish yacht, "Bayesian," is renowned in marine circles. The 18-year-old daughter of Lynch and his Koi carp are currently之中 search and rescue operations along with Jonathan Bloomer and Christopher Morvillo.
After the historical sale of Autonomy to HP in 2011, Lynch's wealth allowed him to purchase a luxury yacht. The 18-year-old daughter, who shares his love for marine life, often accompanied him on yacht trips.
