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Marketplace All-in-One

One of the U.K.’s most high-profile tech entrepreneurs confirmed dead

Marketplace All-in-One

Marketplace

News, Business

4.51.4K Ratings

🗓️ 22 August 2024

⏱️ 8 minutes

🧾️ Download transcript

Summary

From the BBC World Service: British tech entrepreneur Mike Lynch’s body has been recovered after a luxury yacht sank off the coast of Sicily on Monday morning. Then, Canada’s rail freight transport network is coming to a halt over a job contracts. And Australia is in the grip of a housing crisis due to soaring rents and property prices. It’s estimated that more than 120,000 people are now homeless.

Transcript

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0:00.0

Reports say one of the UK's most high-profile tech entrepreneurs has died in

0:05.9

Sicily. Good morning. This is the Marketplace Morning Report and we're live from the

0:09.6

BBC World Service. I'm Leanna Byrne. The British tech entrepreneur Mike Lynch's body has been

0:14.6

recovered from the wreck of the super yacht off the coast of Sicily according to multiple

0:18.7

reports. A source has told Reuters that Lynch's body was recovered but that his 18 year old daughter, Hannah, is still missing.

0:25.6

There are 22 people on the yacht when it sank in bad weather on Monday morning.

0:29.4

15 survived and six were missing with five bodies recovered from the yacht so far.

0:34.1

The BBC's Zoe Kleinman takes a look back at Mike Lynch's life.

0:38.0

Mike Lynch, a Cambridge graduate, was a clever and charismatic figure in the tech world,

0:43.3

sometimes described as the UK's answer to Bill Gates.

0:46.6

His company autonomy was so highly rated that it was bought by the US firm

0:51.4

Hewlett Packard for 11 billion dollars in 2011. That all came

0:56.1

crashing down when HP wrote off nearly nine billion dollars of its investment

1:00.2

shortly afterwards, accusing Mr Lynch and his team of deliberately inflating the value of the firm.

1:06.0

He always denied it and the resulting legal action rumbled on for years.

1:10.0

This June he was acquitted in a US court of 15 charges of fraud.

1:15.0

He was also in line for a 300 million pound payout from the recent sale of the UK

1:20.4

Cybersecurity firm Dark Trace which he co-founded. Just three weeks ago he talked

1:25.8

about his second lease of life. All that matters in life for anyone is their family

1:30.4

and their health and you know that whether you have a large amount of money or you don't is always the same for everyone.

1:39.0

And there have been positives to this journey and that I've been fortunate to meet some

1:44.4

wonderful new people and I have new friends. The yacht trip taken with family and

...

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