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Who is Mike Lynch, the UK tech boss missing in Superyacht sinking – African2nice Technology Top List.
After selling his company Autonomy to Hewlett-Packard he was cleared in June of 15 counts of fraud – Mike Lynch missing in superyacht sinking.
Mike Lynch, the software millionaireΒ missing after the sinking of a superyachtΒ off the coast of Sicily, is one of the few examples of a UK entrepreneur who has created a global technology company.
That fact has led to seemingly obligatory descriptions of him as βBritainβs Bill Gatesβ but, in truth, his story differs hugely from that of the Microsoft founder.
Less than three months ago, the 59-year-old wasΒ cleared of 15 counts of fraudΒ he had faced in the US over the $11.1bn purchase of his company, Autonomy, by the Silicon Valley giantΒ Hewlett-PackardΒ in 2011, a case he feared would end with him dying in prison because of a lung condition.
βI have various medical things that would have made it very difficult to surviveβ,Β Lynch told the Sunday Times last month. βIf this had gone the wrong way, it would have been the end of life as I have known it in any sense.β
Born in Ireland,Β Lynch was raised near Chelmsford in Essex, where his mother was a nurse and his father a firefighter.
He studied physics, mathematics and biochemistry at Cambridge University, eventually specialising in adaptive pattern recognition. His doctoral thesis is reportedly one of the most widely read pieces of research in the university library.
Lynchβs triumphs led to him becoming a science adviser to David Cameron when he was prime minister and a non-executive director of the BBC, as well as receiving an OBE in 2006 for services to enterprise.
However, while Autonomy impressed HP enough to pay more than $11bn for the company in 2011, it only took a year for the US computing giant to take an $8.8bn writedown on its acquisition, sayingΒ it had discovered βserious accounting improprietiesβΒ at the UK company.
Lynch had effectively been involved in defending his reputation ever since βΒ with the legacy of the claims continuing to have ramifications despite the entrepreneur always denying the allegations of wrongdoing.
Autonomyβs former finance director, Sushovan Hussain, was sentenced to five years in prison in the US after being convicted in 2018 ofΒ fraud in relation to the HP deal.
In 2022, LynchΒ lost a civil fraud case brought by HPΒ in the UK, during which it was said that the businessman exerted control over Hussain and that it was inconceivable that Autonomyβs founder was unaware of the fraudulent practices alleged to have taken place at his company.
Mr Justice Hildyard, the high court judge in the case, had been due to rule on HPβs claim for $4bn in damages and had said the amount he intended to award would be much lower. Lynch had said he intended to appeal against the ruling.
At the companies he ran, Lynch is said to have put his own personal stamp, indulging his penchant for James Bond. Conference rooms were reportedly named after Bond enemies, such as Dr No and Goldfinger, and Autonomy even had a piranha tank in the atrium, in a nod to the 007 caper You Only Live Twice.
This professional portrait of Lynch seems slightly at odds with what is known about him personally: married, with two daughters, he was reported to spend his spare time building model railways and breeding koi carp.
Since being acquitted in the US, he had said he planned to address the imbalance he perceived in the extradition treaty between the UK and the US. βIt has to be wrong that a US prosecutor has more power over a British citizen living in England than the UK police do,β he said.
He and his wife, Angela Bacares, who was reported to have been rescued from the Bayesian, were said to be worth Β£500m in this yearβs Sunday Times Rich List.
One of Lynchβs daughters, aged 18, is also understood to be among the four Britons missing after the yacht sank. Two Americans and a Canadian person are also missing.
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