Mike Lynch, man once dubbed 'Britain's Bill Gates,' dies at age 59

cnbc.com:

LONDON — British technology entrepreneur Mike Lynch has been found dead in the wreckage of his superyacht, which sank off the coast of Sicily earlier this week. He was 59 years old.

Just two months ago, Lynch won a stunning victory in a landmark U.S. trial over allegations from Hewlett Packard that he had artificially inflated the value of his company Autonomy when he sold it to the U.S. enterprise tech giant for $11.7 billion in 2011.

Fears for Lynch's life swirled earlier this week when he was reported missing after the sinking of a yacht — later confirmed as owned by his wife Angela Bacares — off the coast of Porticello, a small fishing village in the province of Palermo in Italy.

Bacares was one of 15 people rescued rescued following the yacht's collapse earlier this week.

The anchored vessel, a 56-meter (184 feet) sailing yacht named the Bayesian, was hit by a violent storm early Monday morning.

Witnesses told local media the anchored boat, which was carrying 10 crew members and 12 passengers, descended rapidly after its mast broke.

Lynch's body was retrieved from the wreckage of the yacht Wednesday, a source familiar with the matter told CNBC Thursday. His daughter, Hannah, remains unaccounted for, according to the source, who asked not to be identified due to the sensitive nature of the situation. Sky News earlier reported the news.

Born in Ilford, a large town in East London, to Irish parents in 1965, Lynch grew up near Chelmsford in the English county of Essex. His mother was a nurse and his father was a fireman.

Lynch had a modest upbringing but, at the age of 11, he was awarded a scholarship to attend Bancroft's School, a private school in Woodford Green, East London.

From Bancroft's, he attended the