
Who is Mike Lynch, the tech entrepreneur among the missing after a superyacht sank?
CNN
Mike Lynch, the 59-year-old British tech investor, is among those missing after a luxury yacht he was on was hit by a tornado and sank off the coast of Sicily, Italy early Monday.
Mike Lynch, the 59-year-old British tech investor, is among those missing after a tornado hit a luxury yacht he was on, sinking it off the coast of Sicily, Italy, early Monday, a source told CNN. Lynch garnered much of his wealth from cofounding Autonomy, a tech company purchased by Hewlett-Packard, or HP, for $11 billion in 2011. An attorney for Lynch recently revealed that the entrepreneur’s total worth is around $450 million. The Autonomy sale was one of the biggest British tech deals at the time but quickly went sour, with HP writing down Autonomy’s value by $8.8 billion within a year. The Autonomy acquisition was meant to fuel HP’s software business. Instead, the blockbuster sale has been bogged down by legal problems that recently culminated with a fraud trial. Prosecutors accused Lynch and former Autonomy finance executive Stephen Chamberlain of scheming to inflate Autonomy’s revenue before selling to HP. In June, Lynch was acquitted on 15 charges — one count of conspiracy and 14 counts of wire fraud — in a San Francisco court. The verdict came as a surprise to Lynch. “When you hear that answer, you jump universes. If this had gone the wrong way, it would have been the end of life as I have known it in any sense,” he told the Times, a UK newspaper. Autonomy, founded in 1996, became Britain’s biggest software company and a member of the blue-chip FTSE 100 index. Lynch was lauded at the time by academics and scientists and was asked to advise the British government on technology and innovation.

It was almost an extraordinary scene in front of the White House. As Tesla shares have been tanking since the year began, President Donald Trump held remarks outside of the White House with the company’s CEO and Department of Government Efficiency Head Elon Musk – all in front of a line of shiny Tesla vehicles.