Who's Mike Lynch, UK's Bill Gates missing in superyacht sinking?
Mike Lynch, a prominent figure in the UK's technology sector, is currently unaccounted for following the sinking of a superyacht off Sicily's coast. Often referred to as "Britain's Bill Gates," Lynch (59) has carved out a unique path in the global tech industry. His journey diverges significantly from that of Microsoft's founder. Just three months ago, he was acquitted of 15 fraud charges related to Hewlett-Packard's $11.1 billion acquisition of his firm Autonomy in 2011.
Early life and academic pursuits
Born in Ireland and raised near Chelmsford in Essex, Lynch's parents were a nurse and a firefighter. He pursued studies in mathematics, physics, and biochemistry at Cambridge University. His focus was on adaptive pattern recognition, which led to his doctoral thesis becoming one of the most widely read research papers in the university library.
Entrepreneurial journey and Autonomy's success
Lynch ventured into the tech industry with several start-ups, one of which developed automatic number-plate, fingerprint, and facial recognition software for law enforcement. In 1996, he founded Autonomy. The firm's software was designed to analyze large data sets using Bayesian inference. It is a statistical theory from the 18th century. This innovative approach contributed significantly to Autonomy's immediate business success after its launch on the Brussels stock exchange in 1998.
Lynch's influence and the HP acquisition controversy
Lynch's achievements led to his appointment as a science adviser to then-Prime Minister David Cameron and a non-executive director of the BBC. He was also honored with an OBE in 2006 for services to enterprise. However, his reputation faced challenges when HP wrote down $8.8 billion on its acquisition of Autonomy in 2012, citing "serious accounting improprieties" at the UK firm. Despite these allegations, Lynch has consistently denied any wrongdoing.
Lynch's personal life
Lynch is known for his unique style, naming conference rooms after James Bond villains and installing a piranha tank at Autonomy. Away from work, he enjoys building model railways and breeding koi carp. His wife Angela Bacares was rescued from the Bayesian, their superyacht that sank off Sicily. The couple's net worth was estimated at £500m in this year's Sunday Times Rich List.
