Mike Lynch, the British tech entrepreneur often dubbed "Britain's Bill Gates," faced a tragic turn of events following his recent legal victory. After being acquitted of fraud charges in San Francisco in June 2024, Lynch decided to keep his £30 million yacht, the Bayesian, which he had previously considered selling.
The 56-metre vessel, built in 2008 by the renowned Italian shipyard Perini Navi in collaboration with Ron Holland Design, became the center of a devastating incident in the Mediterranean Sea. Initially named Salute, the yacht was equipped with advanced features, including a retractable keel extending to 9.83 meters for enhanced stability.
Lynch's decision to retain the yacht came after a tumultuous period in his life. He had spent 13 months under house arrest in the United States following his extradition from the UK in May 2023. The fraud charges were related to the sale of his company, Autonomy, to Hewlett-Packard for £8.6 billion in 2011.
"Now you have a second life. The question is, what do you want to do with it?"
Following his acquittal, Lynch invited guests aboard the Bayesian to celebrate, including members of his legal team from Clifford Chance and colleagues from his London investment fund, Invoke Capital.
Tragically, the yacht sank during a storm, resulting in multiple casualties. Lynch's body is believed to be among those recovered, while his wife, Angela Bacares, survived the disaster. The fate of their 18-year-old daughter, Hannah, remains uncertain.
Italian authorities have opened an investigation into the incident. Prosecutors in Termini Imerese, Sicily, are examining the cause of the sinking and potential criminal liability of the crew. Key areas of focus include the position of the yacht's keel, which was found "partially elevated," and whether access hatches were properly secured before the storm hit.
The disaster has sparked controversy regarding the yacht's safety features and the crew's actions. Giovanni Costantino, CEO of The Italian Sea Group, which owns Perini Navi, defended the vessel's construction, claiming it was "one of the safest boats in the world" and virtually "unsinkable." He suggested that human error may have played a role in the tragedy.
Costantino told Corriere della Sera, one of Italy's oldest and most respected newspapers, "The passengers reported something absurd, that the storm came unexpectedly, suddenly. That is not true. Everything was predictable." He questioned why local fishermen from Porticello avoided going out that night, implying that the weather conditions were foreseeable.
The investigation will likely examine why the yacht's keel was not fully extended during the storm, as experts suggest this would have provided additional stability. Additionally, reports indicate that the space housing the yacht's tender, a smaller boat used for shore transportation, may not have been fully closed when the ship went down.
As the maritime community and tech industry grapple with this tragedy, the incident serves as a stark reminder of the unpredictable nature of sea travel, even for the most advanced vessels. The loss of Mike Lynch, a figure once compared to Bill Gates for his technological innovations, marks a somber moment in the intersection of technology and maritime history.