British tech entrepreneur Mike Lynch has been reportedly found dead following a yacht wreck off the coast of Sicily, Italy. His 18-year-old daughter, Hannah, is still missing.
What Happened: Lynch’s body was recovered on Thursday from the wreckage of a yacht that sank earlier this week during a storm, Reuters reported quoting an unnamed source involved in the rescue mission. The bodies of four other individuals who disappeared when the yacht sank were found on Wednesday.
Italian newspaper Corriere della Sera reported that the only identified bodies so far are those of Morgan Stanley banker Jonathan Bloomer and U.S. lawyer Chris Morvillo.
Why It Matters: Lynch, often referred to as the “U.K.’s Bill Gates,” was a significant figure in the tech industry, having founded the software company Autonomy.
Lynch’s yacht, the Bayesian, was caught in a storm and sank near the Sicilian capital, Palermo. This incident occurred on Monday, and rescue operations are ongoing. Lynch, who was acquitted of fraud charges earlier in June, made his name in the tech industry with the sale of his software company, Autonomy, to Hewlett-Packard for $11 billion in 2011. The deal, however, soured when Hewlett-Packard wrote down Autonomy's value by $8.8 billion.
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This story was generated using Benzinga Neuro and edited by Pooja Rajkumari
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