Sometimes described as the Bill Gates of Britain, Mike Lynch was missing after an award-winning yacht sank in a storm off the coast of Sicily early on Monday.
Born in the Essex town of Ilford to Irish parents, his father a fireman and his mother a nurse, Mr Lynch was one of the UK's most controversial business figures in recent years.
Last year's Sunday Times Rich List calculated that he and his wife, Angela Bacares, were worth £852 million.
Ms Bacares, 57, was among those rescued by Italian coastguard on Monday.
On Thursday, Italian coastguard officials officially identified Mr Lynch's body but said his 18-year-old daughter was still missing.
Mr Lynch had recently been cleared of wire fraud charges in California, following his extradition from Britain to the US last year.
Bayesian yacht sinks off Sicily – in pictures
The 59-year-old was acquitted in a San Francisco court in early June, having been accused of involvement in an $11.1 billion fraud linked to the sale of his software firm Autonomy to Hewlett-Packard (HP) more than a decade earlier.
That sale happened in 2011, and within a year HP executives were crying foul and accusing Autonomy of shady accounting practices. But while HP had to write down the value of the deal by more than $5 billion, Mr Lynch maintained his innocence.
The UK's Serious Fraud Office looked into the case and in January 2015 said that there was insufficient evidence to proceed with some parts of the case and handed the rest over to the US authorities.
As such, by early 2018 Autonomy's former chief financial officer, Sushovan Hussain, had been found guilty of fraud in the US and sentenced to five years in prison.
The US Department of Justice charged Mr Lynch with 17 counts of fraud and conspiracy in 2018 and 2019, claiming he had been at the wheel during an illegal effort to overinflate the true state of Autonomy’s revenue.
In 2019, HP launched a civil case against Mr Lynch in the UK, which came to a conclusion in 2022, with the judge finding in favour of HP, but saying the damages involved would be substantially less than $5 billion.
Extradition to the US
The judgment, however, opened the door to extradition proceedings, which began in February 2022 and led to Mr Lynch being extradited to California the following year. He was confined to a house in San Francisco while he awaited trial after posting a $100 million bond.
Alongside Mr Lynch, the former vice president of finance at Autonomy, Stephen Chamberlain, was also indicted, extradited and put on trial in the US on the same charges.
Following the sinking of the yacht Mr Lynch was aboard off the coast of Italy, it emerged that Mr Chamberlain had died two days earlier having been involved in a road accident in Cambridgeshire, England.
Italian officials also confirmed that Jonathan Bloomer, 70, the chairman of Morgan Stanley International, was among those who died after going missing off the coast of Sicily.
A friend of Mr Lynch, Mr Bloomer had been celebrating the acquittal on the yacht when the fatal storm struck.
Mr Bloomer joined the board of the insurance giant Hiscox as non-executive chairman last year, and had appeared as a defence witness in Mr Lynch's legal battle with Hewlett-Packard.
Following his acquittal in early June this year, Mr Lynch was highly critical of his prosecution in the US.
In an interview with the BBC, he said fewer than one per cent of US federal cases like his end in acquittal and that he was free because he had “enough money not to be swept away by a process that's set up to sweep you away”.
“You shouldn't need to have funds to protect yourself as a British citizen”, he added.
Had Mr Lynch been convicted in the US, he faced spending the rest of his life in prison.
“I have various medical things that would have made it difficult to survive,” he told The Times after his acquittal and return to the UK.
“It’s bizarre, but now you have a second life,” he said, “the question is, what do you want to do with it?”
Exactly what that was will now not be known, but immediately following his release in the US in early June he told reporters that he was looking forward to getting back to his family and “innovating in my field”.
Second act
No doubt this would have pioneering work in the technology sector, probably in artificial intelligence (AI), given his involvement with the legal AI company, Luminance, and the cybersecurity firm, Darktrace.
Mr Lynch was also planning to challenge the extradition treaty that led to him being led from his Suffolk home in handcuffs to a courtroom in California.
The treaty, which was updated in 2003 to give more strength to prosecutors wishing to extradite suspects from each other's territory, was used against David Bermingham, one of the so-called NatWest Three linked to the Enron scandal, who sentenced to 37 months in prison in 2008.
Mr Lynch told The Times the treaty needed serious revamping and that he was going to put money into creating a British organisation similar to the Innocence Project in the US, which seeks to free those wrongly convicted.
“It has to be wrong that a US prosecutor has more power over a British citizen living in England than the UK police do,” he said.
Computer pioneer
Many described Mr Lynch as a pioneer of artificial intelligence, as his doctoral thesis at Cambridge University concerned neural networks, an early form of machine learning.
He set up companies at the cutting edge of software technology in the late 1980s, including one which specialised in the early development of fingerprint recognition technology. By 1996 he had started Autonomy, which went on to become a significant force in the British IT industry within just a few years.
Much of the way Autonomy's software worked was based on the statistical methodology of Bayesian inference, which is related to early internet search engines.
The yacht that sank off the coast of Sicily that Mr Lynch and his wife were thought to have owned through a company in the Isle of Man was called “Bayesian”.
During the time of his legal battles, he also cofounded Darktrace, which was eventually taken over in April this year when US private equity firm Thoma Bravo bought it out in a £4.2 billion takeover deal.
Mr Lynch had argued that the controversies surrounding him had depressed Darktrace's share price to make it a takeover target.
After leaving Autonomy in 2012, Mr Chamberlain also worked as the chief operating officer (COO) at Darktrace.
His interests listed in Who's Who include jazz saxophone and preserving rare breeds of animals. He received an OBE in 2006 and is a fellow of both the Royal Academy of Engineering and the Royal Society. He had also served on the boards of the BBC and the British Library.
BIRD%20BOX%20BARCELONA
%3Cp%3E%3Cstrong%3EDirectors%3A%3C%2Fstrong%3E%20David%20and%20Alex%20Pastor%3Cbr%3E%3Cstrong%3EStars%3A%20%3C%2Fstrong%3EGeorgina%20Campbell%2C%20Mario%20Casas%2C%20Diego%20Calva%3Cbr%3E%3Cstrong%3ERating%3A%3C%2Fstrong%3E%202%2F5%3C%2Fp%3E%0A
The burning issue
The internal combustion engine is facing a watershed moment – major manufacturer Volvo is to stop producing petroleum-powered vehicles by 2021 and countries in Europe, including the UK, have vowed to ban their sale before 2040. The National takes a look at the story of one of the most successful technologies of the last 100 years and how it has impacted life in the UAE.
Read part four: an affection for classic cars lives on
Read part three: the age of the electric vehicle begins
Read part one: how cars came to the UAE
Zayed Sustainability Prize
Zayed Sustainability Prize
Keep it fun and engaging
Stuart Ritchie, director of wealth advice at AES International, says children cannot learn something overnight, so it helps to have a fun routine that keeps them engaged and interested.
“I explain to my daughter that the money I draw from an ATM or the money on my bank card doesn’t just magically appear – it’s money I have earned from my job. I show her how this works by giving her little chores around the house so she can earn pocket money,” says Mr Ritchie.
His daughter is allowed to spend half of her pocket money, while the other half goes into a bank account. When this money hits a certain milestone, Mr Ritchie rewards his daughter with a small lump sum.
He also recommends books that teach the importance of money management for children, such as The Squirrel Manifesto by Ric Edelman and Jean Edelman.
Key facilities
- Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
- Premier League-standard football pitch
- 400m Olympic running track
- NBA-spec basketball court with auditorium
- 600-seat auditorium
- Spaces for historical and cultural exploration
- An elevated football field that doubles as a helipad
- Specialist robotics and science laboratories
- AR and VR-enabled learning centres
- Disruption Lab and Research Centre for developing entrepreneurial skills
11 cabbie-recommended restaurants and dishes to try in Abu Dhabi
Iqbal Restaurant behind Wendy’s on Hamdan Street for the chicken karahi (Dh14)
Pathemari in Navy Gate for prawn biryani (from Dh12 to Dh35)
Abu Al Nasar near Abu Dhabi Mall, for biryani (from Dh12 to Dh20)
Bonna Annee at Navy Gate for Ethiopian food (the Bonna Annee special costs Dh42 and comes with a mix of six house stews – key wet, minchet abesh, kekel, meser be sega, tibs fir fir and shiro).
Al Habasha in Tanker Mai for Ethiopian food (tibs, a hearty stew with meat, is a popular dish; here it costs Dh36.75 for lamb and beef versions)
Himalayan Restaurant in Mussaffa for Nepalese (the momos and chowmein noodles are best-selling items, and go for between Dh14 and Dh20)
Makalu in Mussaffa for Nepalese (get the chicken curry or chicken fry for Dh11)
Al Shaheen Cafeteria near Guardian Towers for a quick morning bite, especially the egg sandwich in paratha (Dh3.50)
Pinky Food Restaurant in Tanker Mai for tilapia
Tasty Zone for Nepalese-style noodles (Dh15)
Ibrahimi for Pakistani food (a quarter chicken tikka with roti costs Dh16)
F1 The Movie
Starring: Brad Pitt, Damson Idris, Kerry Condon, Javier Bardem
Director: Joseph Kosinski
Rating: 4/5
The specs: 2018 Audi Q5/SQ5
Price, base: Dh183,900 / Dh249,000
Engine: 2.0L, turbocharged in-line four-cylinder / 3.0L, turbocharged V6
Gearbox: Seven-speed automatic / Eight-speed automatic
Power: 252hp @ 5,000rpm / 354hp @ 5,400rpm
Torque: 370Nm @ 1,600rpm / 500Nm @ 1,370rpm
Fuel economy: combined 7.2L / 100km / 8.3L / 100km
THE CLOWN OF GAZA
Director: Abdulrahman Sabbah
Starring: Alaa Meqdad
Rating: 4/5
Tips to stay safe during hot weather
- Stay hydrated: Drink plenty of fluids, especially water. Avoid alcohol and caffeine, which can increase dehydration.
- Seek cool environments: Use air conditioning, fans, or visit community spaces with climate control.
- Limit outdoor activities: Avoid strenuous activity during peak heat. If outside, seek shade and wear a wide-brimmed hat.
- Dress appropriately: Wear lightweight, loose and light-coloured clothing to facilitate heat loss.
- Check on vulnerable people: Regularly check in on elderly neighbours, young children and those with health conditions.
- Home adaptations: Use blinds or curtains to block sunlight, avoid using ovens or stoves, and ventilate living spaces during cooler hours.
- Recognise heat illness: Learn the signs of heat exhaustion and heat stroke (dizziness, confusion, rapid pulse, nausea), and seek medical attention if symptoms occur.
Specs
Engine: Duel electric motors
Power: 659hp
Torque: 1075Nm
On sale: Available for pre-order now
Price: On request
Lexus LX700h specs
Engine: 3.4-litre twin-turbo V6 plus supplementary electric motor
Power: 464hp at 5,200rpm
Torque: 790Nm from 2,000-3,600rpm
Transmission: 10-speed auto
Fuel consumption: 11.7L/100km
On sale: Now
Price: From Dh590,000
A cryptocurrency primer for beginners
Cryptocurrency Investing for Dummies – by Kiana Danial
There are several primers for investing in cryptocurrencies available online, including e-books written by people whose credentials fall apart on the second page of your preferred search engine.
Ms Danial is a finance coach and former currency analyst who writes for Nasdaq. Her broad-strokes primer (2019) breaks down investing in cryptocurrency into baby steps, while explaining the terms and technologies involved.
Although cryptocurrencies are a fast evolving world, this book offers a good insight into the game as well as providing some basic tips, strategies and warning signs.
Begin your cryptocurrency journey here.
Available at Magrudy’s , Dh104
STAY%2C%20DAUGHTER
%3Cp%3E%3Cstrong%3EAuthor%3A%20%3C%2Fstrong%3EYasmin%20Azad%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EPublisher%3A%20%3C%2Fstrong%3ESwift%20Press%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EAvailable%3A%20%3C%2Fstrong%3ENow%3C%2Fp%3E%0A
MATCH INFO
Manchester City 1 Chelsea 0
De Bruyne (70')
Man of the Match: Kevin de Bruyne (Manchester City)
The%20Genius%20of%20Their%20Age
%3Cp%3EAuthor%3A%20S%20Frederick%20Starr%3Cbr%3EPublisher%3A%20Oxford%20University%20Press%3Cbr%3EPages%3A%20290%3Cbr%3EAvailable%3A%20January%2024%3C%2Fp%3E%0A
Family reunited
Nazanin Zaghari-Ratcliffe was born and raised in Tehran and studied English literature before working as a translator in the relief effort for the Japanese International Co-operation Agency in 2003.
She moved to the International Federation of Red Cross and Red Crescent Societies before moving to the World Health Organisation as a communications officer.
She came to the UK in 2007 after securing a scholarship at London Metropolitan University to study a master's in communication management and met her future husband through mutual friends a month later.
The couple were married in August 2009 in Winchester and their daughter was born in June 2014.
She was held in her native country a year later.
'Nope'
%3Cp%3E%3Cstrong%3EDirector%3A%3C%2Fstrong%3E%20Jordan%20Peele%0D%3Cbr%3E%3Cstrong%3EStars%3A%3C%2Fstrong%3E%20Daniel%20Kaluuya%2C%20Keke%20Palmer%2C%20Brandon%20Perea%2C%20Steven%20Yeun%0D%3Cbr%3E%3Cstrong%3ERating%3A%3C%2Fstrong%3E%203.5%2F5%3C%2Fp%3E%0A
The specs
Engine: Turbocharged four-cylinder 2.7-litre
Power: 325hp
Torque: 500Nm
Transmission: 10-speed automatic
Price: From Dh189,700
On sale: now
SPECS
Nissan 370z Nismo
Engine: 3.7-litre V6
Transmission: seven-speed automatic
Power: 363hp
Torque: 560Nm
Price: Dh184,500
%20Ramez%20Gab%20Min%20El%20Akher
%3Cp%3E%3Cstrong%3ECreator%3A%3C%2Fstrong%3E%20Ramez%20Galal%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStarring%3A%3C%2Fstrong%3E%20Ramez%20Galal%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStreaming%20on%3A%20%3C%2Fstrong%3EMBC%20Shahid%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ERating%3A%20%3C%2Fstrong%3E2.5%2F5%3C%2Fp%3E%0A
UAE currency: the story behind the money in your pockets
RECORD%20BREAKER
%3Cp%3E%3Cstrong%3EYoungest%20debutant%20for%20Barcelona%3A%3C%2Fstrong%3E%2015%20years%20and%20290%20days%20v%20Real%20Betis%3Cbr%3E%3Cstrong%3EYoungest%20La%20Liga%20starter%20in%20the%2021st%20century%3A%20%3C%2Fstrong%3E16%20years%20and%2038%20days%20v%20Cadiz%3Cbr%3E%3Cstrong%3EYoungest%20player%20to%20register%20an%20assist%20in%20La%20Liga%20in%20the%2021st%20century%3A%20%3C%2Fstrong%3E16%20years%20and%2045%20days%20v%20Villarreal%3Cbr%3E%3Cstrong%3EYoungest%20debutant%20for%20Spain%3A%3C%2Fstrong%3E%2016%20years%20and%2057%20days%20v%20Georgia%3Cbr%3E%3Cstrong%3EYoungest%20goalscorer%20for%20Spain%3A%3C%2Fstrong%3E%2016%20years%20and%2057%20days%3Cbr%3E%3Cstrong%3EYoungest%20player%20to%20score%20in%20a%20Euro%20qualifier%3A%3C%2Fstrong%3E%2016%20years%20and%2057%20days%3C%2Fp%3E%0A
IF YOU GO
The flights
FlyDubai flies direct from Dubai to Skopje in five hours from Dh1,314 return including taxes. Hourly buses from Skopje to Ohrid take three hours.
The tours
English-speaking guided tours of Ohrid town and the surrounding area are organised by Cultura 365; these cost €90 (Dh386) for a one-day trip including driver and guide and €100 a day (Dh429) for two people.
The hotels
Villa St Sofija in the old town of Ohrid, twin room from $54 (Dh198) a night.
St Naum Monastery, on the lake 30km south of Ohrid town, has updated its pilgrims' quarters into a modern 3-star hotel, with rooms overlooking the monastery courtyard and lake. Double room from $60 (Dh 220) a night.
