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The Truth About Ulysses Yacht and Who Owns It

Many millionaires and billionaires like to straddle the fence between being in the public eye but also being very secretive about their public lives and Mark Zuckerberg is no different. In 2017 there were numerous articles published about him purchasing a yacht called Ulysses that were soon followed by denials that he had purchased the yacht. So did he purchase the yacht? And if not, who does own the Ulysses? Let’s take a look!

History of the Yacht Ulysses

The yacht Ulysses was built by Kleven Shipyard out of Norway in 2015 and was the largest expedition yacht they’d ever built. It was launched in 2016. It was first owned by New Zealand billionaire Graeme Hart and then rumor has it that Zuckerberg purchased it in September 2017. However, a spokesman for Zuckerberg posted on Facebook shortly thereafter saying Zuckerberg didn’t buy Ulysses and didn’t own any yacht at all.

The story originally came from a Turkish newspaper and, since its publication in September 2017, has spread to numerous other websites that essentially rehash the original details about the explorer yacht in general with Mark Zuckerberg’s name attached. 

However, other sources indicate that the yacht was indeed sold in 2017 but not to Zuckerberg. Instead, the buyer was listed as Russian billionaire Yuri Milner. After purchasing the yacht he renamed it Andromeda.

Milner has also denied ownership but the difference between his claims and those of Zuckerberg is that Milner has reportedly been seen on the yacht and the address registered for the company that owns the yacht is the same address as one of Milner’s companies. So it seems likely that Milner is the owner, and certainly much more likely than Zuckerberg.

So Who Is the Ulysses Yacht Owner?

Based on that, it seems very likely that this is not Mark Zuckerberg’s yacht, but Yuri Milner’s. That said, there are so many results that come up when you Google this yacht or Mark Zuckerberg’s yacht, it’s good to have something to clarify the issue. The idea of billionaire yachts has been big news for some time with stories about the yachts belonging to people like Jeff Bezos , Bill Gates and even Michael Jordan making headlines.

And with that, we can still dive into what we know about the yacht aside from who owns it.

Features of the Andromeda

Like any superyacht, there are some remarkable features onboard Ulysses/Andromeda that make it a real standout. Part of the confusion over getting to the bottom of this comes from the name change from Ulysses to Andromeda. There are actually several yachts bearing these names and Graeme Hart has named at least 3 different yachts Ulysses over the years as well. That aside, let’s take a tour of what we know about the yacht Andromeda/Ulysses features, even if it’s hard to pinpoint who is enjoying all these amenities.

There’s a steel hull and an aluminum superstructure. The deck is teak. Because it’s a yacht designed for exploration it’s a lot more rugged and durable than the average pleasure boat. It’s able to handle extreme weather and is ice-classed to allow for arctic travel. 

Length and Dimensions of the Andromeda

To start with some technical specs, let’s look at the yacht by the numbers.

• 107.4 meters in length or 352’4”
• 18 meter beam or 59’1”
• 5.01 meter draft or 16’5”
• 5,937 gross tonnage
• Crew capacity of 43
• Passenger capacity of 30

Interior of the Andromeda

To start with, the most noticeable features across the 6 decks of the Andromeda is both a helipad and a helicopter hangar for when you need to get back to shore double quick. There’s a large swimming pool on board for those not into salt water and for those who are, a tender garage that is loaded with all kinds of water toys. This includes a nearly 70 foot tender and also a pair of custom cranes to help launch and store it on board. This tender is actually a two-deck vessel in its own right so, essentially, the Andromeda has its own small yacht. 

There are surf boards, seabobs, flyboards and more available and that’s just for the water. If you want to go to shore the garage also holds motorcycles and even SUVs for travel on land. 

You can find a jacuzzi tub on deck as well, and tons of sun pads for lounging.

The interior was designed by British design house H2 Yacht Design. The look is said to be clean and modern but also luxurious. Rumor has it that the space inside cost about €20,000 per square meter. There is a cinema located on board with a Sony 300ES projector. The system comes with full surround sound and 3D projection.

Elsewhere there’s a luxurious full dining room, a wine cellar, a spacious lounge area for socializing, pool and parties. Guests can relax with a plunge pool, sauna, steam room, massage room and gym located to the aft of the main deck.

One deck of the yacht is reserved as a private owner’s deck and features not just luxury quarters but also a full-width lounge and a private balcony. 

Quarters on the Andromeda

There is room for 30 passengers on board and this is said to be split among 15 guest rooms.The crew is also purported to have 15 rooms to split though obviously less spaciously if it can handle 43. 

Guest cabins have floor to ceiling windows allowing for incredible ocean views. The master cabin, with its full beam width, has a panoramic view to the aft of the boat.

How Fast is the Andromeda?

Powered by a total of 6 Caterpillar DE 3516 engines, the Andromeda packs a punch. She has a total listed power of 6660 kw which works out to close to 10,000 horsepower. Despite that, she’s certainly not a speed demon. The top speed has been recorded as 17 knots. Her cruising speed is 15 knots. Her range is 8,500 nautical miles.

How Much Did the Andromeda Cost?

This one is a bit of a tough nut to crack. Initial stories about Zuckerberg buying the motor yacht quoted the price as $150 million sometimes and $195 million other times. But how reliable can either of those be if they didn’t even get the buyer right? Others stated the yacht was worth $195 million but Zuckerberg purchased it for $150 million. 

In 2022, Forbes reported on the yacht in the Caymans and at that time they said the yacht was valued at $129 million. So, with some depreciation, the $150 million figure could have been correct? Or it could have just been speculation much the same as the idea that Zuckerberg bought it. But, in any event, the $129 million valuation seems to be as accurate a number as we can currently get. 

To further confuse you, more recent articles about the Andromeda, which still acknowledge it as being formerly owned by Graeme Hart and having all the same features, list it as being a $250 million vessel.

The annual cost of keeping the yacht running has been estimated at anywhere from $15 million to $25 million.

Can You Charter the Andromeda?

The Andromeda is currently anchored in the Seychelles but it’s not available for charter and Milner, or whoever may own the yacht, is not very open about letting others on board as you can imagine with all this confusion and secrecy. 

The Bottom Line

The yacht once known as Ulysses is now called Andromeda. It is one of the largest and most impressive luxury yachts in the water. Though there is a persistent rumor that it was purchased by Mark Zuckerberg in 2017 it does not seem to be true and, in fact, Zuckerberg doesn’t seem to own a yacht at all. Instead, the vessel seems to have been purchased by Russian-Israeli tech billionaire Yuri Milner though he too has denied ownership. That said, some evidence does suggest it really is his.

The yacht, which cost anywhere from $150 million to $250 million features a helipad, luxury accommodations, room for 30 guests and a number of toys for those on board to use. It is not available for charter. 

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ULYSSES Yacht – World-class $250 Million Superyacht

The owner commissioned the extraordinary superyacht with Norway-based shipyard Kleven.

She features exterior designs from H2 Yacht Design and naval architecture Oscar Mike Limited and Marin Teknikk AS.

The fantastic explorer yacht was delivered in 2018, replacing the owner’s previous 107m superyacht, ANDROMEDA.

ULYSSES yacht interior

The striking interior of the ULYSSES Yacht features design from British company H2 Yacht Design .

ULYSSES has accommodation for 30 guests in 15 cabins across the expansive size of the yacht. The yachting experience is luxurious, with a crew of 48 accommodated in 24 cabin spaces.

She has five spacious decks and features a massive shaded pool area with a luxurious lounging area.

The ULYSSES yacht is loaded up with tenders, including a custom 21-meter Princess 68 yacht. She also features a helipad and hangar for her Bell 429 helicopter.

The helicopter is the perfect way to ferry guests on and off the vessel and explore the surrounding areas.

There is generous storage for large tenders, toys, and land vehicles. The Jacuzzi and sun pads are along the stern where guests can take in sweeping views.

ULYSSES features a large swimming platform that is the perfect spot for guests to relax beside the water and take a dip in the ocean.

The social areas are complemented by a wine bar, cinema, sauna, and a large gym for the many guests to make use of.

The exterior of the ULYSSES features rugged designs and was delivered to her owner in 2018.

The builder was Kleven Maritime AS from Norway and features naval architecture and exterior design from Oscar Mike Limited and Marin Teknikk AS .

Her imposing exterior features a dark blue hull in steel and a white superstructure in aluminum.

The incredible yacht has an impressive exterior that reflects the luxurious interior of the vessel. She was most recently refitted in 2020.

Specifications

The 116.15m ULYSSES has a beam of 18m and a draft of 5m. The vessel has a displacement of 6862 gross tons and a range of 8000 nautical miles.

She has 2 Caterpillar engines. Her top speed is 12 knots, and she reaches a cruising speed of 10 knots.

She is classed as an expedition vessel and is the largest expedition yacht in the world, overtaking LUNA Yacht’s position as number one. The $250 million superyacht has an annual running cost of $20 – $30 million.

ULYSSES in Gibraltar

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Graeme Hart $265m superyacht Ulysses sold

Ulysses, Kiwi billionaire Graeme Hart's superyacht, has been sold.

After being on the market for over a year, the 107-metre Norwegian-built explorer yacht was sold for an undisclosed sum, according to Superyacht Times.

International yacht brokers Burgess and Fraser had confirmed they acted for both Hart and the mystery new owner.

"An announcement regarding the sale is not expected," Superyacht Times said. It had been listed on the market at $265 million.

Built in 2015 by Norwegian offshore specialists Kleven, the vessel comes equipped with a pool and jacuzzi deck, movie room, pool table and watersport equipment including jet skis and a twin-hulled vessel.

Ulysses, however, has never been to New Zealand, and is currently moored in Malaga, Spain. This is Hart's second superyacht named Ulysses - the first was a 57.6m Trinity, which is now registered in the Cayman Islands and renamed Grand Russalina.

Hart, 62, was named in March as the 133rd richest person in the world.

This month, Forbes put his real time net worth at more than $14 billion.

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107m mega yacht Ulysses sold to new owner

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Written by Maria Korotaeva

107m/351ft luxury yacht ULYSSES from Norwegian shipyard Kleven has been sold to a new owner after a year on the market. Built in 2015, Dörries Maritime and Marin Teknikk were both involved with the creation of this exceptional superyacht. Oscar Mike was responsible for the exterior styling while H2 Yacht Design outfitted her interiors.

The previous owner of ULYSSES, Graeme Hart, put the yacht on the market in 2016, asking US $195 million. The reachest man in New Zealand, Hart has owned a number of luxury superyachts, including Grand Rusalina (ex Ulysses) built by Trinity Yachts . Another mega yacht to soon join his feel is Ulysses 116m,  which is currently undergoing sea trials and is due for delivery in 2018.

M/Y ULYSSES was spotted in May off the coast of Gibraltar following a refit before the Mediterranean yachting season. Among the changes were a newly repainted and faired hull, new crew cabins, a new luxury tender and balconies added to the VIP suites.

Guest cabin

Ulysses – outdoor living space

Designed as an explorer yacht, ULYSSES is able to cruise for long periods without refueling. Up to 30 guests can live aboard, surrounded by amenities for relaxation and exploration that include a swimming pool and a helipad.

Please contact CharterWorld - the luxury yacht charter specialist - for more on superyacht news item "107m mega yacht Ulysses sold to new owner".

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Video: 116m superyacht ULYSSES delivered from Kleven

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By Oliver Pearson   25 June 2018

Following almost four years of construction, the breathtaking 116m/381ft motor yacht ULYSSES has been delivered to her discerning owner and is making a passage for Gibraltar.

Leaving Norway after a lengthy and secretive build phase, superyacht ULYSSES is now out on her maiden voyage to the Mediterranean .

Built for a repeat client, the Kleven shipyard built the former ULYSSES which is now known as the 107m/352ft expedition yacht ANDROMEDA back in 2015. Norwegian-based Marin Teknikk were responsible for exterior design and engineering. Whilst British stylists H2 Yacht Design were responsible for the interior spaces on board the original ULYSSES, the team at Redman Whiteley Dixon (RWD) have been brought in to finish the brand new ULYSSES.

Whilst the brand new superyacht ULYSSES is 9 metres longer than her predecessor, she is also larger in terms of gross tonnage (GT). Indeed, ULYSSES boasts an interior spaciousness of 6700 tonnes, whilst the former ULYSESS has an internal volume of 5937 tonnes. To get a better understanding of the difference between the two superyachts, consider that superyacht ULYSSES is 8% larger and 13% more spacious than the one that came before her.

As a state of the art expedition yacht, it will come as no surprise to learn that ULYSSES boasts a commanding fleet of tenders which will allow her owner and his guests to get out and explore even the most faraway reaches of the world’s waters.

Indeed, there is space on the bow dedicated for storing a Princess 68 as well as an impressive sports fisher which are both sure to provide plenty of options to those on board. Similarly, the amidship section is home to a helipad for a Bell 429 helicopter which will make accessing various destinations as convenient as possible. The hangar on the top deck also provides some excellent storage for this additional feature.

Perfectly equipped to take on the world, the brand new expedition yacht ULYSSES is unquestionably in a league of her own

Based on naval architecture designed by industrial ship builder Marin Teknikk, superyacht ULYSSES is capable of comfortably cruising with up to 66 guests on board. As images of her interior are yet to be published, there is still plenty of speculation surrounding ULYSSES and the features she’s certain to feature inside.

As more information becomes available regarding superyacht ULYSSES, YachtCharterFleet will be sure to keep readers fully up to date.

Though M/Y ULYSSES is not expected to be made available for charter, be sure to view and compare all expedition yachts for charter .

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The new owner of explorer superyacht Ulysses is Facebook’s Mark Zuckerberg?

According to various news outlets

According to Turkish news outlet Hurriyet and Norwegian Dagens Naeringsliv , the new owner of explorer superyacht Ulysses in no other than Facebook mogul Mark Zuckerberg.

Despite these reports, the identity of the new owner remains unconfirmed.

Built in Norway by Kleven Verft shipyard, the 107m superyacht was previously owned by Graeme Hart, a top businessman from New Zealand.

With interiors styled by H2 Yacht Design, Ulysses can accommodate 30 guests in 15 suites. It also includes an entire deck dedicated to the owner. The crew quarters allows for a staff of 42 people.

The vessel has a helicopter landing platform and hangar plus a professional cinema with surround sound system. Two elevators are serving all decks. A heated swimming pool, a beach club, gym, spa and a large garage filled with water toys are also available on board.

The sale was announced in October last year, after one year on the market. She was listed for sale at an asking price of $195 million.

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Mark Zuckerberg from Facebook bought 107 meter superyacht Ulysses

The founder of Facebook Mark Zuckerberg purchased an ultra-luxury yacht named “Ulysses” for $150 million in Monaco Yacht Show in September, which is normally listed at $195 million.

The yacht Ulysses has a private helicopter, a separate 24-meter tender boat, an extra 4x4 car and a motorcycle. Mark Zuckerberg, 10 th reachest person in the world with an estimated wealth of $75 billion, saw 107-meter yacht Ulysses at the yacht show in Monaco and bought the yacht later on without making any advertisement by a secret. Zuckerberg made a huge discount on the price of the yacht just because the yacht is for sale more than a year.  The estimated monthly cost of the yacht is $2 million.

Zuckerberg with his wife Priscilla Chan, who has been using the yacht Ulysses for the last five months, were seen in the Pacific lately.

Mark Zuckerberg purchased the yacht from Graeme Hart, a billionaire from New Zealand known for his strong passion for luxury yachts. Graeme Hart was born in 1955, worked as a bus driver and now has a fortune worth $8 billion. According to the Forbes 500 ranking, Hart, who owns the investment firm Rank Group, is the world’s 214th richest person.

Jeff Bezos, the 4th richest person in the world, has also a new boat under cosntruction. You can find news about it here: Jeff Bezos is constructing a 127-meter sailing yacht at Oceanco

The yacht Ulysses was built at the Kleven shipyard in Norway. The 107-meter Ulysses has a 24-meter tender vessel, a helicopter with its own hangar, ATVs and 4x4 vehicle. The ultra-luxury yacht can sail halfway around the world without refueling and is designed to endure the toughest weather conditions, including the arctic circles and the world’s hottest regions.

Ulysses can host up to 30 people in 15 private suits. The yacht has 43 crews and 20 rooms for crew members. It can reach a maximum speed of 15 knots.

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Sinking of a super yacht adds to questions billionaire Mike Lynch wanted to put behind him

It was a sunny August morning when software entrepreneur Mike Lynch, 59, gathered ten of his closest friends along with his wife and daughter on the dock of Porto di Milazzo, on the Northern coast of Sicily. They had come to celebrate his freedom. Only months before, several of the guests played crucial roles in persuading a San Francisco jury to acquit Lynch of federal charges related to the sale of his software firm Autonomy to Hewlett-Packard for $11 billion. 

Five days after the yacht left port, Lynch, his daughter, four guests, and a hired chef were dead in the Mediterranean Sea after a storm flooded the ship. The drowned included the chairman of Morgan Stanley International, a star witness at Lynch’s trial, as well as one of Lynch’s lead defense attorneys. Among the survivors were a former Autonomy exec who went on to become a partner at Lynch’s venture capital firm, a second member of his defense team, and his wife, who reportedly owns nearly all his fortune. The same day of the drowning, U.K. news outlets reported that Lynch’s co-defendant in the fraud trial, Stephen Chamberlain, who had also been acquitted, had been fatally run over by a car as he was out jogging—a shocking coincidence.

Less than a week after the tragedy, there are far more questions than answers. Did the yacht named Bayesian—an homage to a statistical theorem for predicting future outcomes—simply fall victim to a terrible storm? How did most of the crew and a few passengers escape, and why couldn’t they reach Lynch and the six others who did not make it out? Italian officials are looking into manslaughter charges, but it’s not yet clear who they may have in their crosshairs. Giovanni Costantino, who runs The Italian Sea Group that owns Perini Navi, the Italian maker of the yacht, had harsh words for the crew, who he blames. “This is the mistake that cries out for vengeance,” he told Reuters .

There are also huge questions swirling around the business ventures of the man dubbed the “British Bill Gates.” While the Bayesian excursion was to serve as a celebration of Lynch’s acquittal on all charges in the U.S.—where he had spent months under house arrest—the reality is that his legal troubles were far from over. In a January 2022 civil trial, the UK’s High Court found that HPE had “substantially succeeded” in proving that Autonomy leaders had fraudulently made it look like the company was earning more revenue than it was. In 2019 Autonomy’s CFO was convicted of 16 counts and sentenced to five years in prison. At this time, the UK case is in a holding pattern as the judge determines what damages are owed to HPE. (The company’s spokesperson Adam Bauer says HPE is, “saddened by this tragic event, and our thoughts are with the families and friends of all those who lost their lives.”)

But Lynch’s passing also looms over Invoke Capital, the venture firm he founded in 2011 and whose managing partner—Charlotte Golunski—survived the yacht disaster and saved her 1-year old baby. One of Invoke’s most prominent bets was a 2013 seed stage investment in Darktrace, a cybersecurity firm on whose board Lynch sat until 2018. Darktrace has developed a reputation as a sleek AI cybersecurity startup with ties to spy agencies like MI5 and the U.S. National Security Agency. It also became the target of short-sellers who in 2023 expressed doubt over Darktrace’s financial filings—the same sort of allegations that plagued Lynch’s Autonomy. 

Darktrace insists that the shortseller’s allegations were baseless, and they say an EY audit it commissioned showed this to be the case. In April Darktrace received a $5.3 billion acquisition offer from the giant private equity firm, Thoma Bravo. The deal, which Fortune reported will likely go forward despite Lynch’s death, stood to help rehabilitate Lynch’s business reputation. As of August 14, he and his wife collectively owned 3.21% of the company, which would be worth some $170 million upon the deal’s completion. Invoke Capital has not responded to multiple requests for comment and Darktrace declined comment.

Following his U.S. acquittal, Lynch was pleased enough with the state of things that he had begun celebrating weeks before the yacht party. In the days following the not-guilty verdict, Lynch, his wife, Stephen Chamberlain and his wife, the attorney Chris Morvillo—who drowned on Bayesian—and 20 other lawyers gathered at a restaurant at a hotel near the San Francisco courthouse.

Brian Heberlig, an attorney at Steptoe who gave the closing argument in Lynch’s trial, recalls that Morvillo gave a moving toast, telling those assembled that the trial was more than just a job, but one of their life’s works. “He really was a brilliant man,” Heberlig told Fortune , fighting back tears as he remembered Lynch. “And he ran his legal defense the same way I imagine he ran Autonomy. He let the experts do their jobs, while still having a strong grasp on the material. As he used to say, ‘Let the brain surgeons do the surgery.’”

That night was the last time Heberlig ever saw Lynch or Morvillo.

A ‘virtually unsinkable’ boat

The sailing party departed August 14—five days before the storm—and was comprised of 12 guests and 10 crew. The Bayesian was one of the biggest yachts of its kind. Its first stop was a cluster of small islands off the coast of Sicily. Then it jetted across the sea to the Sicilian town of Cefalu, before putting down anchor for the final time on the coast of Palermo, a favorite getaway for the rich and famous, and a former haunt for the mafia.

Lynch’s wife, Angela Bacares, who reportedly held the couple’s entire $1.1 billion fortune, was jolted awake on August 18 as the boat began to tilt. Glass from a shattered window exploded across the deck, according to reports, cutting her feet as she ran to investigate.

Black and white security  footage  appears to show the outline of what is believed to be the 184-foot sailing yacht, which used call sign 2ICB8, slowly disappearing behind a thicker and thicker veil of rain. Nearby villagers and fishermen say they saw a sea tornado, called a waterspout. Soon after, the yacht lay on the ocean floor.

Theories are swirling about why the yacht sank. One holds that a bay door was left open in the storm, causing the ship to flood and sink in minutes. Another holds that the Bayesian’s 246-foot tall aluminum mast—one of the tallest in the world— broke in the wind and took the boat down with it.

Most news reports say the yacht sank almost instantly, but the CEO of the company that bought the boat’s maker after it went bankrupt in 2021 disputes that. In a Financial Times report, he called the boat “virtually unsinkable,” and says that it dragged its anchor for 16 minutes before it sank. 

During those fateful moments, a far older nearby yacht, the Sir Robert Baden Powell, built in 1957, was drifting on a similar course as the Bayesian and not only survived, but came to help. Some onboard saw a red flare shooting across the rainy sky—an emergency signal from those who had fled the doomed yacht, drawing the attention to a life raft filled with 15 of the 22 passengers.

Passenger Golunski, 35, who helped run Autonomy the first year it was at HP, described holding her one-year old daughter Sophia, as she screamed for help. One of Lynch’s most trusted employees, Golunski was a founding partner at Invoke Capital, the London-based firm that backed Darktrace. Lynch’s wife Bacares was also in the life raft along with Clifford Chance lawyer Ayla Ronald, 36, who reportedly texted to her father: “there are deaths.”

The lifeboat survivors were soon plucked from the sea while the Bayesian came to its current resting place 50 meters below the surface. Over the course of the next 72 hours, a team of scuba divers from the Guardia Costiera and specially trained cave divers from the Vigili del Fuoco, the local fire department, used boats and a helicopter to triangulate the yacht’s position. The divers, working in bursts of 8 to 12 minutes, searched the Bayesian’s six guest suites, master suite, multiple living areas, and dining room.

The body of the yacht’s chef, Recaldo Thomas, was the first to be found, floating on the water’s surface. On Wednesday, two days after the wreck, four more bodies were discovered, and on Thursday a fifth. Among them were Lynch and Chris Morvillo of the prestigious law firm Clifford Chance, who had made the controversial decision to have Lynch testify, and questioned him on the stand right before he was acquitted. The others discovered were Morvillo’s wife, Neda, as well as the Morgan Stanley banker and key witness, Jonathan Bloomer, who had been a former executive director at Autonomy, and his wife Judy. The body of Lynch’s 18-year-old daughter, Hannah, was pulled from the sea on Friday.

The U.K. Maritime and Coastguard Agency tells Fortune it is in contact with the Italian authorities but would not provide further information. The UK’s Foreign Office told Fortune it is providing “consular support to a number of British nationals and their families…and are in contact with the local authorities.”

More questions than answers

Even as loved ones and the survivors begin to come to terms with the human toll of the tragedy, the business world has begun assessing Lynch’s complicated past, and his many business dealings. 

Lynch was born of modest means to a nurse and firefighter in a suburb of London. From an early age he showed a proclivity towards technology and a fiery determination. He studied Natural Sciences at Cambridge, then returned for a PhD in artificial neural networks, the building blocks of artificial intelligence. When he was still studying for his PhD, he started his first venture, Cambridge Neurodynamics, monetizing computerized fingerprint recognition, eventually evolving into Autonomy. 

Founded in 1996 with David Tabizel and Richard Gaunt, Autonomy used an early version of artificial intelligence to quickly scan what’s known as “unstructured data,” especially including language. Autonomy quickly became a darling of the UK’s fledgling tech scene, and it was seen as a crowning achievement when, in 2011, the company struck an $11 billion deal to be purchased by HP, now HPE. The deal, however, was quickly engulfed in scandal when a year later the new owner alleged accounting fraud and wrote down its investment by $8.8 billion.

Despite the baggage around Autonomy, Lynch continued to ride high in the tech world through his venture firm, Invoke Capital, which he founded in 2012. One of its most profitable investments was Darktrace, which he backed in 2013 and joined as a board member. By 2016 he told TechCrunch 60 employees from Autonomy were working at Invoke, that he’d raised a billion dollars to invest in startups, and that Darktrace was worth $500 million.

While fighting the legal battle over Autonomy and building Invoke, Lynch enjoyed the trappings of a mogul. The same year he announced his billion-dollar startup fund, he was sailing the Bayesian, worth an estimated $25 million. He reportedly also owned a $6 million, 69-acre Georgian manor.

By early 2020 Darktrace shared deep connections with Autonomy, including half of Darktrace’s board and six of its eight top executives. The following year Darktrace went public, soaring 40% above its pre-market value. But the victory lap was brief. In September 2022, an acquisition talk between private equity firm Thoma Bravo and Darktrace fell through , sending share prices tumbling. In early 2023, the short-selling firm Quintessential Capital Management published a 70-page report accusing Darktrace of similar misconduct that had sunk Autonomy.

“We are deeply skeptical about the validity of Darktrace’s financial statements,” the report read. Darktrace’s shares plunged as much as 17% after the report was published, though the company said at the time that the management team and board had “rigorous controls in place.” Darktrace hired EY to perform an audit, which stabilized its share price after the accounting firm found the company’s earlier financial results did not need to be restated. Darktrace never publicly released the report, however, with a spokesperson saying at the time that it contained “commercially sensitive information.”

More recently, Darktrace’s CEO Poppy Gustafsson wrote in the firm’s Q4 trading report of “shareholders voting overwhelmingly in favour” of the acquisition, and added the company is “awaiting the conclusion of the remaining regulatory processes.”

Until very recently, Darktrace had sought to distance itself from Lynch and his VC firm. In December, shareholders passed a resolution that rejected Invoke executive Patrick Jacob’s reappointment to its board. This April, Invoke lost the right to that same board seat when it was discovered its shares had fallen below the required 10% threshold. Nonetheless, in a memorial to Lynch, Darktrace CEO Poppy Gustafsson wrote : “Without Mike, there would be no Darktrace. We owe him so much.”

While the Italian authorities continue to investigate the crash site, one thing is certain: the swirl of legal and business battles that surrounded Lynch during his lifetime are likely to continue after his death. A local Italian news site reports that the public prosecutor’s office in a nearby town, Termini Imerese, is looking into allegations of manslaughter surrounding the sunken boat. And two months before Lynch died, former UK secretary of state David Davis reportedly said he was working with Lynch to scrap U.S./U.K extradition agreements that allowed Lynch’s trial to happen in the first place. 

On Wednesday, August 21, Davis told GB News he would continue that fight in memory of Lynch. “We need to get a grip of this,” said Davis. “Mike, when he’d won his case, almost the first thing he did was ring me up and say, ‘we’re going to have to defeat this treaty, we’re going to have to overcome this treaty and get it changed for the better.'”

“I am looking forward to returning to the U.K. and getting back to what I love most: my family and innovating in my field,” Lynch said after the verdict.

Lynch’s desire to extend the legal fight even after his not-guilty verdict reflects the scrappiness he displayed throughout his life. This helped him ascend to the highest rungs of business and moguldom—but the success also came with a tenuous quality as questions about his business dealings dogged him for years. The not-guilty verdict and the pending Darktrace sale meant Lynch was in position to finally cast off that shadow. But now his ultimate legacy is poised to be tied forever to a mysterious and tragic hour on the Mediterranean Sea.

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Ship captain who saw Mike Lynch’s yacht sink blames ‘extreme mast’

Who was onboard tech mogul Mike Lynch's Bayesian yacht?

Topic: Disasters, Accidents and Emergency Incidents

Six people are missing, including a man dubbed the British Bill Gates, after a luxury yacht sank off the Sicilian coast.

British tech entrepreneur Mike Lynch — freshly acquitted from a decade-long trial — had invited his work colleagues aboard a trip through the Mediterranean coast when a freak storm saw the yacht sink within moments.

Fifteen people escaped from the sinking vessel. The search for the missing continues.

Here's what we know so far: 

What happened?

The Italian coastguard said the yacht — the Bayesian — was anchored off the shore of port city Porticello, near the Sicilian capital Palermo, when it was hit by bad weather sometime after 4am on Monday, local time. 

Eyewitnesses said it vanished quickly beneath the waves shortly before dawn.

Managers of the sailing vessel Bayesian, Camper & Nicholsons, confirmed to the ABC that the Bayesian encountered severe weather and subsequently sank. 

"Our priority is assisting with the ongoing search and providing all necessary support to the rescued passengers and crew," they said. 

"The wind was very strong. Bad weather was expected, but not of this magnitude," a coastguard official told Reuters.

Sicily's civil protection agency head, Salvo Cocina, said a waterspout — a tornado over the water — could have struck the yacht.

"They were in the wrong place at the wrong time," Mr Cocina added. 

Storms and heavy rainfall had swept down Italy in recent days after weeks of scorching heat, lifting the temperature of the Mediterranean Sea to record levels and raising the risk of extreme weather conditions, experts told Reuters.

"The sea surface temperature around Sicily was around 30 degrees Celsius, which is almost 3 degrees more than normal. This creates an enormous source of energy that contributes to these storms," meteorologist Luca Mercalli said.

Rescuers recover the body of one of the people aboard the Bayesian.  ( AP: Lucio Ganci )

Captain Karsten Borner of the Sir Robert Baden Powell vessel told journalists he noticed the Bayesian nearby during the storm, but after it calmed he saw a red flare and realised the ship had simply disappeared.

Mr Borner said he and a crew member boarded their tender and found a lifeboat with 15 people, some of them injured, who they then took aboard and alerted the coast guard.

Search crews, including helicopters and divers, are continuing to search the wreckage, lying at a depth of 49 metres.

Specialist divers reached the ship on Monday but access was limited due to objects in the way, the fire brigade said.

The UK Marine Accident Investigation Branch is deploying a team of four inspectors to Italy to conduct a preliminary assessment.

The Foreign Commonwealth and Development office said it was "providing consular support to a number of British nationals and their families".

Sicilian prosecutors have also opened an investigation into the event. 

Who is missing?

Lawyer Chris Morvillo (left), entrepreneur Mike Lynch, and Morgan Stanley chairman Jonathan Bloomer are among the missing. 

There were 12 passengers and 10 crew members aboard the yacht. 

Mr Cocina said the crew and passengers hailed from a variety of countries, including Britain, the United States, Antigua, France, Germany, Ireland, Myanmar, the Netherlands, New Zealand and Spain.

Of the 22, one man is confirmed dead and another six people are still missing. 

They are believed to be inside the hull, fire rescue spokesperson Luca Cari said.

Fabio Cefalù, a fisherman who said he responded to a flare from the vessel but found it sunk, said he stayed at the site for three hours without finding anyone.

"I think they are inside, all the missing people," he said.

Rescue teams recovered the body of the yacht's onboard chef on Monday, identified as Antiguan citizen Ricardo Thomas.

The still missing people include: 

• Mr Lynch's 18-year-old daughter, Hannah 
• Jonathan Bloomer, chairman of global financial services company Morgan Stanley International
• Chris Morvillo , a lawyer at the British multinational law firm Clifford Chance. He worked on Mr Lynch's lawsuit against Hewlett-Packard
• The identities of the remaining two missing are still unconfirmed

Who was rescued? 

Fifteen people escaped from the sinking ship. 

Eight have been hospitalised and others were taken to a nearby hotel.

Charlotte Golunski was among those rescued, recalling the harrowing moments she held her child Sofia above the waves.  ( Supplied: Facebook  )

Among those rescued were:

• Mr Lynch's wife, Angela Bacares, who was the owner of the yacht
• Charlotte Golunski and her one-year-old daughter, Sofia. Ms Golunski is a partner at Mr Lynch's firm, Invoke Capital. She says she momentarily lost hold of Sofia in the water but managed to hold her up above the waves until the lifeboat was inflated
• Ms Golunski's husband James Emslie
• New Zealand captain of the yacht James Catfield. He told Italian newspaper La Repubblica the crew didn't see the storm coming
• A lone Dutch citizen was identified by the Dutch foreign ministry as being rescued, but was not identified

Who is Mike Lynch?

Mr Lynch, once hailed as Britain’s king of technology, was recently freed from a Silicon Valley lawsuit that tarnished his legacy. 

The 59-year-old Cambridge-educated mathematician created Autonomy , a search engine that could pore through emails and other internal business documents to help companies find vital information more quickly. 

He received the OBE for his innovation in 2006. 

He then sold the software to Hewlett-Packard (HP) for $US11 billion ($16 billion) in 2011, with Mr Lynch personally netting $US800 million. 

HP valued Autonomy at $US46 billion ($68 billion) in the months leading up to the deal.

Mike Lynch in 2019 leaving the High Court in London.  ( Reuters: Henry Nicholls/File Photo )

But the deal quickly turned sour after he was accused of forging the software's financial records to make the sale.

As part of a decades-long legal battle against HP, Mr Lynch was extradited to the UK on criminal fraud charges. 

He steadfastly denied any wrongdoing, asserting that he was being made a scapegoat for HP's own bungling. 

He was eventually cleared of all charges in June this year. 

Although he avoided a possible prison sentence, Lynch still faced a bill from a civil case in London that HP mostly won during 2022. Damages haven't been determined in that case, but HP is seeking $US4 billion. 

Following the San Francisco trial, Mr Lynch said he would return to the UK and do what he loved most: "[being with] my family and innovating in my field."

The holiday appeared to be something of a celebration after Mr Lynch's acquittal, with guests including some of the people who had stood by Lynch throughout the ordeal.

This picture shows the rescue operations off the Sicilian coast.  ( AP: Italian Coast Guard  )

In a separate act of tragedy, Mr Lynch's co-defendant in the trial, Stephen Chamberlain, died on Monday, after a road accident left him critically injured.

Mr Chamberlain — Autonomy's former vice-president of finance alongside Mr Lynch — was hit by a car in Cambridgeshire on Saturday morning and had been placed on life support. 

What is the Bayesian?

The luxury yacht is 56m long sailboat, with a 75m mast labelled as the tallest aluminium mast in the world.

It was previously named Salute when it flew under a Dutch flag.

The yacht, built in 2008 by the Italian firm Perini Navi, can accommodate up to 12 guests in six suites and a crew of 10, according to online specialist yacht sites. It was last refitted in 2020.

Online charter sites listed it for rent for up to 195,000 euros (about $AU 321,000) a week. 

This picture taken on Sunday shows the Bayesian (left) and the Duch sailboat Sir Robert Baden Powell anchored off the coast line.   ( AP: Fabio La Bianca/Baia Santa Nicolicchia )

The ship also won a string of awards for its design. 

Ms Golunski said the yacht had travelled through the Aeolian Islands, Milazzo and Cefalù before sinking. 

It is likely the yacht's name would resonate with Mr Lynch because his PhD thesis and the software that made his fortune was based on Bayesian theory.

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Ship captain who saw mike lynch’s yacht sink blames ‘extreme mast’.

An eye witness to the sinking of British tech entrepreneur  Mike Lynch 's yacht on Monday attributed the tragedy to the extremely tall mast, which made the vessel more vulnerable to the violent storm that was lashing the area.

Dutch ship captain Karsten Börner, whose own boat was anchored near Lynch's Bayesian , told the Financial Times that the superyacht appeared to have stability problems.

"The center of gravity is too high with this extreme mast," he explained, while also dismissing the Italian coast guard's initial view that the Bayesian was in the wrong place at the wrong time.

"I was on the same spot," Börner added. "I have two masts and they are 28 and 29 meters above deck, she has one, 73 meters (239.5 feet) above deck."

Authorities are looking into  possible reasons Lynch’s yacht quickly sank , when other boats nearby seemed to weather the same storm without issue.

The 56-meter long superyacht had been carrying 22 passengers and crew. Börner rescued 15 passengers and said they told him the ship sank in less than two minutes.

He also described the wind as "violent, very violent," telling the FT that the wind speed likely reached hurricane strength as "tons of water" came down.

"I never saw that before, there was a water tornado," he said.

The CEO of the Italian Sea Group, which owns the company that built the Bayesian , previously told the FT that it was designed to be stable with its tall mast and suggested the crew didn't carry out proper safety measures.

But Börner said the crew told him they "closed the ship," according to the FT .

The Italian Sea Group didn't immediately respond to Fortune's request for comment on Börner's remarks and declined to comment to the FT .

Meanwhile, prosecutors in Italy have launched a probe into the shipwreck and multiple counts of culpable homicide, which are equivalent to manslaughter charges.

The Italian coast guard also confirmed Friday that it had recovered the body of Lynch’s 18-year-old daughter, Hannah. In addition to Lynch and his daughter, the other victims included  Morgan Stanley  International chair Jonathan Bloomer and his wife, Judy Bloomer; Clifford Chance lawyer Chris Morvillo and his wife, American jewelry designer Neda Morvillo; and chef Recaldo Thomas.

On Saturday, Italian prosecutors told reporters that the emergency began at 4:38 a.m. local time , when a red flare was launched and seen by the coast guard, adding that the passengers were likely asleep at the time.  

Deputy prosecutor Raffaele Cammarano told reporters that a crew member had been on duty, as required, when the "truly sudden" storm struck.

Chief prosecutor Ambrogio Cartosio   said ship-tracking data showed the yacht started to drift from anchor just before 4 a.m., then traveled about 360 meters over five minute to the spot where it eventually sank some 15 minutes after that.

This story was originally featured on Fortune.com

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Live updates: Seven dead in 56m superyacht Bayesian sinking tragedy

Seven people have died in the Bayesian sinking disaster. These include the six missing people who were inside the yacht when it sank, as well as a seventh person who was located shortly after the disaster. The seventh person is understood to be the yacht's chef, Recaldo Thomas. The other six are:

• British tech entrepreneur Mike Lynch, once dubbed 'Britain's Bill Gates'
• Lynch's 18-year-old daughter, Hannah
• Morgan Stanley's chairman, Jonathan Bloomer
• Judy Bloomer, wife of Morgan Stanley chairman
• Chris Morvillo, a lawyer working for London-based law firm Clifford Chance
• Neda Morvillo, an American jewellery designer and Chris' wife

It is understood that the yacht was being used to celebrate Lynch's recent victory in a 13-year £8 billion fraud acquittal.

No one remembers the mast snapping before 56m superyacht Bayesian sunk, says crew

No one recalls seeing the mast snap on board the 56-metre Perini Navi sailing yacht Bayesian which sank off the Italian island of Sicily on 19 August. The eyewitness account of a crewmember on board the vessel, which was obtained by BOAT International , said that the boat was struck by a freak weather event which led to the yacht heeling at around 20 degrees to starboard. As crewmembers were securing items, the heeling angle began to increase rapidly until the yacht started taking on water and sank rapidly.

The crewmembers who were up on deck were able to evacuate the yacht with minor injuries. The yacht is understood to have sunk in just twelve minutes, and it is believed that a "major ingress" of water from the top down would have caused the sinking, according to a captain who wishes to remain anonymous. This is based on the fact that no breaches have been reported in the yacht's hull, and the fact that the yacht should have been able to remain afloat with two flooded compartments.

"Very difficult to understand what could have overwhelmed a vessel of that size" says captain of sistership

The captain of the sistership to the sunken 56-metre Perini Navi sailing yacht Bayesian has said it is "very difficult to understand what could have overwhelmed a vessel of that size" and called the 56-metre Perini Navi series "bulletproof".

David Hutchinson, captain of Rosehearty , said he had taken the yacht around the world multiple times and he had "total faith in the boat".  "We've been to Antarctica and Chile, and we've had her in 70 knots of wind," he says, and the vessel had never put them in a situation that felt unmanageable.

However, Hutchinson noted there were differences between Bayesian and Rosehearty ; notably, Bayesian's  74-metre mast, which would have been heavier and added increased windage. The yacht's layout was also different, with guest accommodation on Bayesian located further forward.

Live updates

• During a news conference on Saturday morning (24 August), prosecutors confirmed they are in the early stages of investigating a "crime hypothesis" of culpable shipwreck and manslaughter. Authorities also said the yacht likely sunk because of a downburst (powerful wind that descends from a thunderstorm), rather than a waterspout.
• A search and rescue for six missing people has concluded. The final missing person is understood to be Hannah Lynch. 
• According to Reuters, six bodies have now been found in the sunken yacht. These include Mike Lynch, a British technology entrepreneur who co-founded Autonomy Corporation and founded Invoke Capital, although Italian authorities have not confirmed this.  
• One person was found immediately after the yacht sunk, and this is understood to be the yacht's chef. 
• Lynch’s wife, Angela Bacares, and a one-year-old are among the fifteen people rescued along with Bayesian' s captain, James Cutfield.
• Another sailing vessel in the area, the 42-metre Sir Robert Baden Powell ,  stepped in to offer assistance in the initial rescue.
• Divers have been able to reach Bayesian' s sunken hull, which lies at 45 metres of depth about half a mile from the coast. The yacht had the largest aluminium masts of any sailing yacht on the water.
• Eyewitnesses in the area reported "hurricane" conditions off the coast but local weather websites did not indicate any severe squall, which suggests that the weather event was not forecast.
• At around 5am local time on 19 August, Bayesian was hit by bad weather and sunk.  The sailing yacht was anchored or idle at the time of the incident.

Built in Italy by renowned builder Perini Navi and delivered in 2008, the yacht's naval architecture was developed by Ron Holland Design while the interior design is by Rémi Tessier . She was formerly known as Salute and was last refitted in 2016. She was listed for sale earlier this year, according to BOATPro . The yacht had accommodation for nine guests and 12 crew.

BOAT International will update the story as it develops.

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