On Monday (August 19), British technology entrepreneur Mike Lynchh celebrated with family, friends, and business partners on Sicily Island aboard a luxury yacht that capsized in a storm, where he was recently acquitted of charges. As of now, Lynch, his daughter, and Jonathan Bloomer, the chairman of Morgan Stanley International Inc., along with 4 others, are still missing.
Rescue operations were resumed by professional divers from the Palermo Fire and Rescue Department on Tuesday (August 20) morning. Firefighters stated that accessing the yacht submerged 49 meters (160 feet) underwater was a challenging task.
Salvo Cocina, head of Sicily’s Civil Protection Agency, informed Bloomberg that the six missing passengers include Bloomer and his wife Judy, Chris Morvillo, a partner at Clifford Chance law firm, and his wife Neda, as well as Lynch and his daughter Hannah.
Among the 12 passengers and 10 crew members on the capsized yacht named “Bayesian,” at least one person has been reported dead, with 15 survivors, including Lynch’s wife Angela Bacares. Lynch and his family were celebrating his recent acquittal on fraud charges in the US with financial and legal advisors when the storm hit.
Lynch, 59, is one of the most prominent British technology entrepreneurs, often referred to as Britain’s Bill Gates. In the mid-90s, he co-founded Autonomy, the UK’s largest software company, based on groundbreaking research at the University of Cambridge.
In 2011, Lynch sold Autonomy to Hewlett Packard for $11 billion, after which the US tech giant accused him of fraud, leading to a failed deal and a lengthy legal battle. Lynch was acquitted by a jury in San Francisco in June this year. His net worth is estimated at £500 million by The Times.
Bloomer, 70, has been in the finance industry for fifty years, serving as the Chairman of Morgan Stanley’s European business since 2018 and leading the board of directors at UK insurer Hiscox Ltd. starting last year. He is a friend of Lynch and a defense witness in the long-standing legal battle with Hewlett Packard.
Morgan Stanley and Hiscox expressed shock and sadness at the news, awaiting further developments. Salvatore Cocina of Sicily’s Civil Protection Department told Reuters, “We’re concerned that bodies may be trapped inside the ship at a depth of 49 meters, limiting the divers’ underwater time.”
Morvillo, another missing individual, was Lynch’s co-defense counsel throughout the years-long lawsuit, successfully defending him against accusations of deceiving Hewlett Packard. Ayla Ronald, a colleague of Morvillo, was part of Lynch’s defense team as well and fortunately survived the incident.
Italian media reported on Tuesday that Sicily prosecutors have initiated an investigation into the yacht’s sinking, attributing the incident to the mast of the “Bayesian” breaking in severe weather conditions.
Flying the British flag, the “Bayesian” is one of the world’s largest sailboats, measuring 56 meters (184 feet) and owned by Lynch’s wife. The vessel was struck by a waterspout while anchored near the port of Porticello, according to local reports. A waterspout is a rotating column of air similar to a small tornado that descends from a cloud and forms over a body of water.
So far, the only recovered body is that of the ship’s chef, Ricardo Thomas, who was a citizen of Antigua.
The UK’s Maritime Accident Investigation Branch stated that four inspectors have been dispatched to Sicily for a “preliminary assessment.”
Experts note that Italy has experienced severe storms and heavy rainfall in recent days, with historical record-high sea temperatures following weeks of scorching heat, which increased the risk of extreme weather.
In an unusual coincidence, Stephen Chamberlain, a co-defendant of Lynch, was reported to have died in a traffic accident in the UK over the weekend, as stated by Chamberlain’s lawyer on Monday, reported by Reuters.