Please use a modern browser to view this website. Some elements might not work as expected when using Internet Explorer.
- Landing Page
- Luxury Yacht Vacation Types
- Corporate Yacht Charter
- Tailor Made Vacations
- Luxury Exploration Vacations
- View All 3697
- Motor Yachts
- Sailing Yachts
- Classic Yachts
- Catamaran Yachts
- Filter By Destination
- More Filters
- Latest Reviews
- Charter Special Offers
- Destination Guides
- Inspiration & Features
- Mediterranean Charter Yachts
- France Charter Yachts
- Italy Charter Yachts
- Croatia Charter Yachts
- Greece Charter Yachts
- Turkey Charter Yachts
- Bahamas Charter Yachts
- Caribbean Charter Yachts
- Australia Charter Yachts
- Thailand Charter Yachts
- Dubai Charter Yachts
- Destination News
- New To Fleet
- Charter Fleet Updates
- Special Offers
- Industry News
- Yacht Shows
- Corporate Charter
- Finding a Yacht Broker
- Charter Preferences
- Questions & Answers
- Add my yacht
EXPERIENCE RARE EXOTIC LOCATIONS
![co to yacht Superyacht being chartered at Ibiza](https://www.yachtcharterfleet.com/resources/images/sliders/full_slider/charter-hot-destination-large.webp)
What's new for 2024
![co to yacht Superyacht with Limo Tender](https://www.yachtcharterfleet.com/resources/images/sliders/full_slider/summer-charters-large.webp)
2024 Hotspots
Our complete guide to the Mediterranean
3,697 Crewed Luxury Yachts for Charter
![](http://mengov24.online/777/templates/cheerup/res/banner1.jpg)
The Luxury Yacht Charter Marketplace
Find and book your dream yacht through YachtCharterFleet, the world's leading luxury yacht charter comparison site. View ALL superyachts available to rent, get expert advice from our comprehensive destination guides and be inspired by our bespoke superyacht itineraries. Let us connect you with a knowledgeable local charter broker to help you plan and book your fully-crewed private yachting vacation today.
Hotspots Summer 2024
Take a look at all the yachts available in a selection of our favorite summer charter destinations.
- Mediterranean
- South of France
- The Balearics
![co to yacht St Tropez yacht charter](https://image.yachtcharterfleet.com/w370/h370/qh/ca/k7d8dceac/areaguide/photo/1470948.jpg)
from $12,000 p/week
170+ yachts
![co to yacht Amalfi Coast yacht charter](https://image.yachtcharterfleet.com/w370/h370/qh/ca/k84a43ca6/areaguide/photo/1472664.jpg)
Amalfi Coast
910+ yachts
![co to yacht Ibiza yacht charter](https://image.yachtcharterfleet.com/w370/h370/qh/ca/k6148fa60/areaguide/photo/1474925.jpg)
400+ yachts
![co to yacht Mykonos yacht charter](https://image.yachtcharterfleet.com/w370/h370/qh/ca/k8c21d8d0/areaguide/photo/1475024.jpg)
690+ yachts
![co to yacht Sardinia yacht charter](https://image.yachtcharterfleet.com/w370/h370/qh/ca/k74fa8175/areaguide/photo/1688882.jpg)
from $9,000 p/week
1070+ yachts
![co to yacht Bahamas yacht charter](https://image.yachtcharterfleet.com/w370/h370/qh/ca/k4b5bd93b/areaguide/photo/1468799.jpg)
from $17,500 p/week
370+ yachts
![co to yacht Monaco yacht charter](https://image.yachtcharterfleet.com/w370/h370/qh/ca/kd1d60dae/areaguide/photo/1687762.jpg)
from $10,000 p/week
1000+ yachts
![co to yacht Dubrovnik yacht charter](https://image.yachtcharterfleet.com/w370/h370/qh/ca/k00320ca9/areaguide/photo/1472390.jpg)
Hotspots Winter 2024/2025
Take a look at all the yachts available in a selection of our favorite winter charter destinations.
- South East Asia
- Indian Ocean
- Central America
- Northern Europe
![co to yacht British Virgin Islands yacht charter](https://image.yachtcharterfleet.com/w370/h370/qh/ca/k16414f93/areaguide/photo/1469932.jpg)
British Virgin Islands
from $11,900 p/week
![co to yacht Thailand yacht charter](https://image.yachtcharterfleet.com/w370/h370/qh/ca/k2af48732/areaguide/photo/1468547.jpg)
580+ yachts
![co to yacht Maldives yacht charter](https://image.yachtcharterfleet.com/w370/h370/qh/ca/kbba36cd4/areaguide/photo/1470024.jpg)
from $24,000 p/week
![co to yacht St Barts yacht charter](https://image.yachtcharterfleet.com/w370/h370/qh/ca/kb5ff2b41/areaguide/photo/1469518.jpg)
380+ yachts
![co to yacht Norway yacht charter](https://image.yachtcharterfleet.com/w370/h370/qh/ca/kc3f5e7df/areaguide/photo/1469608.jpg)
from $21,000 p/week
![co to yacht Tahiti yacht charter](https://image.yachtcharterfleet.com/w370/h370/qh/ca/k213472fc/areaguide/photo/1473646.jpg)
from $31,000 p/week
![co to yacht Seychelles yacht charter](https://image.yachtcharterfleet.com/w370/h370/qh/ca/kc6382a3a/areaguide/photo/1827611.jpg)
from $320,000 p/week
![co to yacht Mexico yacht charter](https://image.yachtcharterfleet.com/w370/h370/qh/ca/ka075e8bc/areaguide/photo/1469241.jpg)
from $18,000 p/week
Search By Yacht Type
Know what you're looking for? Browse our extensive selection of charter yachts from around the world.
Motor Yacht
Over 1,800 yachts
Sailing Yacht
Over 500 yachts
Classic Yacht
Over 160 yachts
Over 100 yachts
Insider Secrets
Vacation Inspiration
If you’re seeking inspiration for your next yachting vacation, our destination features offer first-hand advice, expert travel tips, and hand-picked activities and attractions to see and do.
![co to yacht VIP like a boss: Most expensive clubs in the Mediterranean](https://image.yachtcharterfleet.com/w343/h435/qh/cs538-3-751-948/ow-1,d-1/k8fc25f91/article/content/2324286.jpg)
Explore Popular Itineraries
Got a destination in mind but not sure where to go? Let our itinerary suggestions inspire your own bespoke charter.
![co to yacht Bahamas itinerary](https://image.yachtcharterfleet.com/w348/h218/qh/ca/kf7e32e3a/itinerary/edit/resource/698.jpg)
Latest Charter News
Hand-picked charter news to help plan your next yachting vacation from our experienced editorial team & leading charter experts from around the world.
![co to yacht co to yacht](https://image.yachtcharterfleet.com/w356/h339/qh/ca/od-1/kcbfbe439/article/content/2757835.jpg)
Featured Yacht Review
12 Guests | 7 Cabins from $390,000 p/week ♦︎
Read Review View Yacht
Charter Smarter
Why Book With Us
At YachtCharterFleet, our goal is to show you the whole market. When we launched, we were the first independent charter comparison site and we continue to put our clients at the forefront of everything we do.
Largest Choice of Yachts
YachtCharterFleet allows you to browse the entire market in one place and receive impartial, independent information about booking. Our industry connections and intelligence data gives us access to off-market yachts, so you can be sure you’re viewing the widest selection.
Unbiased Global Network
Booking through YachtCharterFleet gives you access to an international network of local, independent brokers. We’ll connect you with a yachting expert in your timezone, who speaks your language and has experience and expertise chartering yachts in your desired location.
Tailor-Made Vacations
Our network of approved charter brokers have access to the entire market and possess the specialist knowledge required to book yachts. They have an unrivaled understanding of the yachts and their crew, and their mission is to create travel experiences specifically catered to you.
Trending Featured Yachts
![co to yacht Flying Fox yacht for charter](https://image.yachtcharterfleet.com/w351/h251/q90/ca/ow-1/k93df7b03/vessel/resource/1116405.jpg)
Please enter a valid e-mail.
Thanks for subscribing.
As Featured In
The YachtCharterFleet Difference
YachtCharterFleet makes it easy to find the yacht charter vacation that is right for you. We combine thousands of yacht listings with local destination information, sample itineraries and experiences to deliver the world's most comprehensive yacht charter website.
San Francisco
- Like us on Facebook
- Follow us on Twitter
- Follow us on Instagram
- Find us on LinkedIn
- Add My Yacht
- Affiliates & Partners
Popular Destinations & Events
- St Tropez Yacht Charter
- Monaco Yacht Charter
- St Barts Yacht Charter
- Greece Yacht Charter
- Mykonos Yacht Charter
- Caribbean Yacht Charter
Featured Charter Yachts
- Maltese Falcon Yacht Charter
- Wheels Yacht Charter
- Victorious Yacht Charter
- Andrea Yacht Charter
- Titania Yacht Charter
- Ahpo Yacht Charter
Receive our latest offers, trends and stories direct to your inbox.
Search for Yachts, Destinations, Events, News... everything related to Luxury Yachts for Charter.
Yachts in your shortlist
Click to speak with a private yacht concierge.
Understanding Yacht Co-Ownership: Answers to the 8 most-asked questions.
![title= co to yacht](https://www.avyachts.com/photos/articles/news-large/dsc-2974.jpg)
Whether you want to buy a share of a yacht, sell a share of a yacht, or are completely new to the concept of yacht co-ownership, this article is for you. We’re sharing some of the most popular questions we get from clients, and our answers.
What is yacht co-ownership?
Yacht co-ownership – also referred to as fractional yacht ownership or shared equity yacht ownership – describes an ownership structure that enables a designated number of co-owners to share all the benefits and costs associated with owning a yacht.
Why choose co-ownership?
The immediate appeal of co-ownership, as opposed to conventional yacht ownership, is that you only pay for the time you spend on the yacht. If you were to own a yacht outright, you would be paying for the yacht even when it’s simply docked in the marina.
Plus, with shared ownership, your yachting budget can go a much longer way. The more people you have to share the cost with, the bigger your budget and your yacht options will be. Rather than having just one single budget to work within, you’ll have double or triple that depending on how many partners you share the yacht with.
Another major advantage to co-ownership is the hassle-free experience it offers. As part of AvYachts Co-ownership Plan, management and maintenance responsibilities can be taken care of for you. Rather than worry about planning yard times, hiring and managing crew, and the day-to-day challenges of yacht ownership, you’ll be able to spend more time enjoying your yacht and having fun.
How does co-ownership work?
With yacht co-ownership, each owner gets to use the yacht on a fair basis according to how large their share is. There is a round-robin system that rotates the most popular weeks of the year, such as high-season or school holidays, with the flexibility to swap weeks.
What is the right number of co-owners?
There is no one right number of owners. It is dependent on a variety of factors, including the size of the yacht, plus where and how often you plan on using it. Our expert matchmakers will work with you to find just the right ownership structure for you.
Why do so few companies offer Co-Ownership services?
Co-ownership has long been a part of yachting culture – whether it’s family members buying together, business partners, or even friends. So why is it that so few companies offer co-ownership services? The honest answer is that it requires a lot more effort and dedication to put a shared deal together than a single ownership deal. In some cases, it can be twice to four times the work, so a company/broker needs to be passionate about the concept of finding the right fit for you and be experienced at successful yacht partner matchmaking.
Why consider selling a portion of your yacht?
The demand for yachting is growing. Every yacht owner has weeks their yacht is sitting empty. That is never good for the yacht, the crew, or the bottom line. While some owners open their yacht for charter to defray the cost, another option is to sell ¼ or more of your yacht for a lump sum plus an annual rate for a guaranteed number of weeks a year. As the seller, you set the rules of ownership. It is a guaranteed flow of funds and will keep the yacht and crew moving.
If you are looking to buy a share of a yacht, what factors should you consider when setting a budget?
Owning a yacht is expensive, no matter what your budget is. Here are some questions to consider when setting your budget:
- Do you want a crew, or are you planning on being the captain and maintaining the yacht? - Usage weeks: How many times a year are you going to use the yacht? - Number of staterooms: How many people will you be traveling with? - Destination: Where do you want to go on the yacht? - Homeport: Where do you want to keep the yacht? - How long do you want to own the yacht? - Do you want to handle the maintenance and logistics of owning a yacht?
Any additional considerations?
At the end of the day, it is not only the purchase price of the yacht that you should keep in mind. The yearly maintenance and running budget are some of the most important numbers to consider when shopping for a yacht.
As the expert in helping you buy or sell a share of a yacht, AvYachts matchmakers can connect you with the yachting experience you dream of, at a fraction of the price you imagine. Ready to get started? Contact us today.
UK Edition Change
- UK Politics
- News Videos
- Paris 2024 Olympics
- Rugby Union
- Sport Videos
- John Rentoul
- Mary Dejevsky
- Andrew Grice
- Sean O’Grady
- Photography
- Theatre & Dance
- Culture Videos
- Fitness & Wellbeing
- Food & Drink
- Health & Families
- Royal Family
- Electric Vehicles
- Car Insurance Deals
- Lifestyle Videos
- UK Hotel Reviews
- News & Advice
- Simon Calder
- Australia & New Zealand
- South America
- C. America & Caribbean
- Middle East
- Politics Explained
- News Analysis
- Today’s Edition
- Home & Garden
- Broadband deals
- Fashion & Beauty
- Travel & Outdoors
- Sports & Fitness
- Climate 100
- Sustainable Living
- Climate Videos
- Solar Panels
- Behind The Headlines
- On The Ground
- Decomplicated
- You Ask The Questions
- Binge Watch
- Travel Smart
- Watch on your TV
- Crosswords & Puzzles
- Most Commented
- Newsletters
- Ask Me Anything
- Virtual Events
- Wine Offers
- Betting Sites
Thank you for registering
Please refresh the page or navigate to another page on the site to be automatically logged in Please refresh your browser to be logged in
Everything we know so far about the search for Mike Lynch and the Bayesian superyacht sinking in Sicily
The bayesian sailing boat had 22 people on board, including technology tycoon mike lynch, when it sank in the early hours of monday, article bookmarked.
Find your bookmarks in your Independent Premium section, under my profile
![co to yacht Breaking News](https://static.independent.co.uk/static-assets/images/newsletter/breaking-news/breaking-news-thumb.png)
For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails
Sign up to our free breaking news emails, thanks for signing up to the breaking news email.
The search for British billionaire Mike Lynch and his daughter continues a day after his luxury yacht sank in a tornado off the coast of the Sicilian capital Palermo .
The 50-metre luxury boat, named Bayesian, had 22 people on board when it sank in the early hours of Monday, with four Britons among the seven missing , according to local media.
The yacht sank as a fierce storm battered the area overnight, and was flying a British flag, according to ship-tracking site Marine Traffic.
![co to yacht Sicily yacht latest: Morgan Stanley chair and top lawyer confirmed as missing alongside tech tycoon Mike Lynch](https://static.independent.co.uk/2024/08/19/10/SEI217893945.jpg?quality=75&width=230&auto=webp)
Salvo Cocina of Sicily ’s civil protection agency said: “They were in the wrong place at the wrong time.”
For updates on this story, follow The Independent’s live blog for the latest coverage
What do we know about the missing people on the yacht?
British technology tycoon Mike Lynch is among six tourists missing, The Independent understands. Mr Lynch, who founded software giant Autonomy in 1996, was made an OBE for services to enterprise in 2006. In June, he was cleared of conducting a massive fraud relating to a $11 billion (£8.64bn) sale to US company Hewlett Packard.
One man has been confirmed dead with photos on Monday showing a body bag being lifted to shore where ambulances were waiting. Multiple agencies are reporting he is the boat’s chef. Four of the missing passengers are British and two are American, according to Italian newspaper la Repubblica.
Have you been affected by this story? Email [email protected]
Mr Lynch had planned the superyacht cruise as a celebration with family, employees and lawyers who supported him during the decade-long trial.
Morgan Stanley International Bank chairman Jonathan Bloomer and Clifford Chance lawyer Chris Morvillo are among those missing.
Divers are still searching for the remaining six passengers unaccounted for: Mr Lynch and his 18-year-old daughter, Morgan Stanley International non-executive chairman Jonathan Bloomer, Clifford Chance lawyer Chris Morvillo, and their two wives Judy and Neda.
Among the 15 survivors rescued from a lifeboat was Mr Lynch’s wife Angela Bacares. Another survivor, Charlotte Golunski, 35, told Italian journalists how she saved her one-year-old daughter Sofia from drowning.
![co to yacht The ‘Bayesian’ sailing boat](https://static.independent.co.uk/2024/08/19/15/SEI217913099.jpg)
She told la Repubblica she lost Sofia for “two seconds”, adding: “I held her afloat with all my strength, my arms stretched upwards to keep her from drowning. It was all dark. In the water I couldn’t keep my eyes open. I screamed for help but all I could hear around me was the screams of others.”
According to her LinkedIn profile, Ms Golunski is a partner at Mr Lynch’s firm, called Invoke Capital.
Charlotte, Sofia and Charlotte’s husband, James have now been discharged from hospital.
Ayla Reynold, a Kiwi working at Clifford Chance, also survived the horror with her partner. Her father Lin Ronald confirmed to The Telegraph she had been invited aboard as thanks for assistance in Mr Lynch’s recent court case. He said that his daughter had not given many details about what happened, but said: “there are deaths and she and her partner are alive.”
Where did the yacht sink?
The luxury yacht sunk off the coast of Palermo, Sicily.
The 56-metre-long sailboat sank with 22 people on board shortly before sunrise, the Italian coast guard said in a statement.
![co to yacht Map showing where superyacht sank off Sicily](https://static.independent.co.uk/2024/08/19/14/e9d39ae291895573573f3ed38cedd0f2Y29udGVudHNlYXJjaGFwaSwxNzI0MTU4NDgx-2.77187365.jpg)
“The wind was very strong. Bad weather was expected, but not of this magnitude,” a coast guard official in Palermo told Reuters.
Storms and heavy rainfall have swept down Italy in recent days - with floods and landslides causing major damage in the north of the country - after weeks of scorching heat.
The boat left the Sicilian port of Milazzo on 14 August and was last tracked east of Palermo on Sunday evening, with a navigation status of "at anchor", according to vessel tracking app Vesselfinder.
The Bayesian superyacht
The Bayesian superyacht is 56 metres long, according to VesselFinder.
The superyacht can accommodate up to 12 guests in six suites and is listed for rent for up to 195,000 euros (£166,000) a week. Her registered owner is listed as Revtom Ltd, which is based on the Isle of Man.
Bayesian completed several sailings in recent days, calling at various ports in Sicily.
Formerly known as Salute, or health in Italian, its 75-metre mast is the tallest aluminium mast in the world, Italian shipbuilder Perini said on its website.
![co to yacht The route of the Bayeasian yacht took in its final hours before the storm](https://static.independent.co.uk/2024/08/19/15/Bayeasian.jpg)
Perini constructed the boat in 2008 and it was last refitted in 2020 and was managed by yachting company Camper & Nicholsons.
Camper and Nicholsons International, confirmed to The Independent that the Bayesian sailing yacht “encountered severe weather and subsequently sank.”
A statement continued: “There were a total of 12 guests and 10 crew onboard. The Italian Coast Guard is leading search and rescue operations, and has safely recovered 15 individuals. Efforts to locate the seven missing persons continue. Our priority is assisting with the ongoing search and providing all necessary support to the rescued passengers and crew. More information will be provided as it becomes available.”
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies
Subscribe to Independent Premium to bookmark this article
Want to bookmark your favourite articles and stories to read or reference later? Start your Independent Premium subscription today.
New to The Independent?
Or if you would prefer:
Hi {{indy.fullName}}
- My Independent Premium
- Account details
- Help centre
![co to yacht Boat logo](https://www.boatinternational.com/static/img/logo.png)
The global authority in superyachting
- NEWSLETTERS
- Yachts Home
- The Superyacht Directory
- Yacht Reports
- Brokerage News
- The largest yachts in the world
- The Register
- Yacht Advice
- Yacht Design
- 12m to 24m yachts
- Monaco Yacht Show
- Builder Directory
- Designer Directory
- Interior Design Directory
- Naval Architect Directory
- Yachts for sale home
- Motor yachts
- Sailing yachts
- Explorer yachts
- Classic yachts
- Sale Broker Directory
- Charter Home
- Yachts for Charter
- Charter Destinations
- Charter Broker Directory
- Destinations Home
- Mediterranean
- South Pacific
- Rest of the World
- Boat Life Home
- Owners' Experiences
- Conservation and Philanthropy
- Interiors Suppliers
- Owners' Club
- Captains' Club
- BOAT Showcase
- Boat Presents
- Events Home
- World Superyacht Awards
- Superyacht Design Festival
- Design and Innovation Awards
- Young Designer of the Year Award
- Artistry and Craft Awards
- Explorer Yachts Summit
- Ocean Talks
- The Ocean Awards
- BOAT Connect
- Between the bays
- Golf Invitational
- BOATPro Home
- Superyacht Insight
- Global Order Book
- Premium Content
- Product Features
- Testimonials
- Pricing Plan
- Tenders & Equipment
Co-founded by Gary Wright and Charlie Birkett in 2004, Y.CO was built on a foundation of specialist knowledge, first-hand onboard experience and a passion for yachts and exploring the ocean. Bringing a new dynamic, modern approach to yachting, Y.CO specialises in sales, purchase, charter, management, new construction and refit and is recognised as one of the leading yacht companies in the industry, supporting over 100 large yacht operations worldwide. The company’s headquarters are in Monaco with offices in London and Fort Lauderdale.
Yachts for sale
Yachts for charter.
- Inquire Now
- YACHT SEARCH
- Motor Yachts
- Sailing Yachts
- $1 – $25,000 Yachts
- $26,000 – $50,000 Yachts
- $50,000 – $100,000 Yachts
- $101,000 – $200,000 Yachts
- $200,000 – ∞ Yachts
- Virgin Islands
- Leeward Islands
- Turks and Caicos
- Spain & Balearic Islands
- New England
- Tahiti & South Pacific
- More destinations
- Charter Advice
How much does it cost to charter a yacht?
There are many things to consider and first time charterers can be left confused, that's why we've created a comprehensive guide to yacht charter prices (with a checklist).
![co to yacht charter cost explained banner](https://www-worldwideboat-com.exactdn.com/wp-content/themes/worldwide-boat/images/charter-cost-explained-1.jpg?strip=all&lossy=1&quality=92&resize=800%2C281&ssl=1)
The good news: It’s easy to grasp the basics of yacht charter pricing. And with one of our experts in your corner, we can help you more accurately estimate the cost of your next once-in-a-lifetime vacation.
The cost of a yacht charter is dependent on a number of factors, including the type of yacht, the charter destination, local taxes, and the base cost. (If the yacht has a celebrity owner, well that too, can add to the cost.)
Therefore, yacht charters have a wide range of base prices. That’s why charters can cost from $10,000 per week on smaller sailing yachts and catamarans, up to $150,000+ per week on the most luxurious motor superyachts.
What else can you expect to pay? This overview – a part of our planning resource, the Charter Advice Guide – offers an in-depth look at charter yacht costs.
Yacht Charter Price Structure: “All-Inclusive” vs “Plus Expenses”
In the world of yachting, two types of crewed yacht charters are available to you – “All-Inclusive” and “Plus Expenses” charter experiences. What do these terms mean exactly? Here’s a quick look:
- All-Inclusive Yacht Charters – Some charters (mainly catamaran and monohull charters in the Virgin Islands) offer all-inclusive rates. That means rates are based on the number of guests, and they include all food and drink, water sports, and fuel costs. Dockage and taxes, though, are usually charged separately.
- Plus Expenses Charters – Rates for larger motor yachts do not include running expenses, which must be paid separately. For these luxury charters, the base price is for the yacht only. Additional expenses, i.e. food, bar, fuel, dockage, port taxes, and other expenses, are charged separately. Most frequently, the running expenses are paid by an Advance Provisioning Allowance, or APA, which is typically 35% of the base price; this is an amount that’s paid prior to the charter.
Our chart below offers a quick overview of what’s included in both of these types of charters.
![co to yacht charter cost comparison chart](https://www-worldwideboat-com.exactdn.com/wp-content/themes/worldwide-boat/images/charter-cost-comparison-chart.jpg?strip=all&lossy=1&quality=92&resize=700%2C896&ssl=1)
Average Yacht Charter Cost: Base Prices
What can you expect to pay for a catamaran, a sailing vessel, or motored yacht? Here’s a quick overview of the average cost to rent a yacht (not including extra expenses) for the most common types available:
Average Weekly Sailing Charter Rates | Sailing Yacht |
---|---|
Average Weekly Catamaran Charter Rates | Catamaran |
Average Weekly Motor Yacht Charter Rates | Motor Yachts |
Factors that Affect Yacht Charter Prices
Since charter yachts are privately owned, prices are set by the owner. This can explain, in part, the wide range of differences in price between boats of similar lengths. Yet, several other factors can significantly impact price, including:
- The Yacht – The year the boat was built, the builder, previous owners, and the boat’s selection of water toys can also increase the cost of a yacht. Boats can also develop a reputation, i.e. the largest or most luxurious, or having a famous builder or previous owner. Reputation can also affect pricing.
- Season – Prices typically increase in the high season – i.e. high summer in the Mediterranean or winter in the Caribbean – and decrease in low seasons.
- Destination – Your charter destination also plays a role in charter cost. For example, prices increase in areas without large charter fleets (i.e. the Galapagos), whereas Bahamas yacht charters, BVI charters , or Mediterranean yacht charter are priced more competitively.
Additional Costs Considerations on Yacht Charter
In addition to the cost associated with running the yacht and provisioning, there are a number of other costs that must be considered. These are the most significant:
Advanced Provisioning Allowance
The APA on Plus Expenses charters equals roughly 35% of the yacht’s base price. This is a fee that’s collected prior to charter, and it’s similar to an expense account the captain can access during the charter. At the end of the charter, you will receive a detailed accounting of your APA account, plus any unused APA funds in cash.
In the case of overages, you may be required to replenish the APA account during the charter. This can be done with cash, although many choose to set up accounts with their charter brokers , which can be accessed if requested by the captain.
Taxes and Value Added Tax (VAT)
Most boats – whether all-inclusive or Plus Expenses – will not include local taxes or a Value Added Tax into their charter rate. The charterer will be responsible for paying those taxes. Taxes range significantly by destination; here’s a look at some of yachting’s most popular destinations:
- The Bahamas – Tax: 4% plus 10% VAT
- BVI – Tax: between $6 and $16 per person per day, depending on the flag of the boat
- Croatia – VAT: 13%
- Florida – Tax: 6% for Broward County, 7% for Miami-Dade County
- France – VAT: 20%, however, 10% can be applied when an itinerary includes International Waters
- Greece – VAT: 12%
- Italy – VAT: 22%, however 6.6% (over 24m) and 8.8% (under 24m) can be applied when an itinerary includes International Waters
- Montenegro – NO VAT
- New England – NO TAX
- Spain – VAT: 21%
- Turkey – NO VAT
Charterers can purchase cancellation and curtailment insurance – which is similar to traveler’s insurance. This insurance can help cover costs if a charterer must cancel or shorten the charter. Charter brokers can help you weigh insurance options, and often offer several different options.
Crew Gratuity
While crew gratuity is certainly not mandatory, it is recommended, particularly if you were truly impressed with your charter experience. In general, crew gratuity is roughly 15-20% of the base charter rate, which is handed to the captain at the conclusion of your charter.
Delivery Fees
While these fees do not apply on most charters, you may be asked to pay delivery costs if you are not chartering in the yacht’s normal cruising ground. In most cases, you will only be required to cover the fuel for the trip.
Call Worldwide Boat today to learn more. Our Charter Specialists are here to assist you with every detail and explain all charter costs. Or read our Charter Advice guide for more information and tips for planning your charter vacation.
Showing 1–4 of 288 results
![Chakra Profile Chakra Profile](https://www-worldwideboat-com.exactdn.com/wp-content/themes/worldwide-boat/images/Chakra-Profile.jpg?strip=all&lossy=1&quality=92&ssl=1%3Ffix&fit=345%2C230)
282.2ft / 84m
![co to yacht More info](https://www-worldwideboat-com.exactdn.com/wp-content/themes/worldwideboat/assets/img/chevron_right.png?strip=all&lossy=1&quality=92&resize=21%2C20&ssl=1)
278.1ft / 83m
![titania main titania main](https://www-worldwideboat-com.exactdn.com/wp-content/themes/worldwide-boat/images/titania-main.jpg?strip=all&lossy=1&quality=92&ssl=1%3Ffix&fit=345%2C230)
239.6ft / 71m
![Yacht Serenity 236 Yacht Serenity 236](https://www-worldwideboat-com.exactdn.com/wp-content/themes/worldwide-boat/images/Yacht-Serenity-236.jpg?strip=all&lossy=1&quality=92&ssl=1%3Ffix&fit=345%2C230)
Serenity 236
236.3ft / 70m
Additional Charter Cost FAQs
What are standard private charter yacht prices?
There are a number of factors that affect charter yacht pricing. However, on average, a week-long private yacht charter costs anywhere from $10,000 on luxurious sailing yachts and catamarans, and up to $150,000 for superyachts.
What affects charter yacht prices?
There are several things that influence how much your yacht charter will cost. The type of vessel, charter destination, length of trip, base cost, time of year, and local taxes all make a difference.
How much does it cost for a crewed vessel?
Charter yacht prices do increase when hiring a crew along with the boat. At Worldwide Boat, we offer two types of crewed charter experiences: all-inclusive and plus expenses. An all-inclusive charter yacht includes accommodation for all guests, food and drink, water sport activities, and fuel costs – dockage fees and taxes are charged separately. A plus expenses experience accounts for just the yacht’s base price. Things like food, drinks, fuel, dockages, taxes, and other expenses are charged separately and are usually estimated to be about 35% of the base price.
What’s included in all-inclusive boat charters?
At Worldwide Boat, your all-inclusive charter experience includes a diligent and friendly crew, water toys, food, drinks, fuel, water and electric services, and occasionally diving experiences.
What are some additional charter boat costs to consider?
After finding a base price you’re comfortable with and evaluating your package, you’ll also want to consider delivery fees, crew gratuity, insurance fees, taxes, and Advanced Provisioning Allowance rates. If you are responsible for these fees, your crew will handle the necessary transactions on your behalf.
What does it cost to rent a 100- foot yacht charter?
This depends on what type of vessel you’re looking at and how long you’ll need it for. The average weekly cost of a 100-foot sailing yacht is between $50,000-100,000. A weekly 80-foot catamaran charter runs around $40,000-100,000, and a week-long 100-foot motor yacht rental is anywhere between $50,000-80,000.
Does the price to rent a yacht change depending on what type of boat it is?
Yes. Worldwide Boat offers sailing yachts, catamarans, and motor yachts. All of these vessels have different capabilities, but there are other factors that determine the price beyond what type of boat you choose. The year the boat was built, owner, availability of water toys, onboard amenities, and the ship’s reputation can all change how much the ship is priced at.
When is the high season for yacht charters?
The price of a yacht fluctuates depending on the season. A Mediterranean yacht charter cost rises in the summer and drops in the winter, whereas Caribbean boat charter prices are high during the winter and lower in the summer months.
How does my destination affect charter yacht cost?
The more remote an area is, the more expensive it will be to charter a yacht there. That’s because prices go up in areas that have fewer boats. If you were to travel somewhere like the Galapagos, which isn’t a typical yacht destination, you’d pay more than you would if you were traveling to the Caribbean.
How much do I tip the crew when reviewing my yacht charter expenses?
It’s not required that you tip your crew, but it is recommended and appreciated. If you had an enjoyable experience it’s considered polite to tip your crew anywhere from 15-20% at the end of your charter.
Go to Charter Advice
Set your search criteria to find the perfect yacht
- Alaska Australia Bahamas BVI Caribbean Croatia Florida France Galapagos Greece Indonesia Italy Malaysia Maldives Mexico Mediterranean New England Norway Spain Thailand Tahiti Turkey
- Motor Yacht Catamaran Sailing Boats
- 2 4 6 8 10 12 12+
Search by yacht name
Family of Mike Lynch's co-defendant who died after car accident days before yacht sinking pay tribute
Stephen Chamberlain and the tech tycoon had faced charges of fraud and conspiracy but were acquitted by a US jury in June. He was involved in a collision with a car in Cambridgeshire on Saturday.
![co to yacht](https://e3.365dm.com/23/02/75x75/skynews-sarah-taafe-maguire_6072752.jpg?20230228101036)
Business reporter @taaffems
Tuesday 20 August 2024 11:40, UK
![co to yacht Stephen Chamberlain. Pic: LinkedIn](https://e3.365dm.com/24/08/768x432/skynews-stephen-chamberlain_6661294.png?20240820052514)
The family of Mike Lynch's co-defendant in a recent US fraud trial have paid tribute to a "much-loved husband, father, son" after it was confirmed he died following a road accident that occurred a couple of days before the British tech tycoon went missing.
Stephen Chamberlain, the former vice president of the finance company Autonomy, was hit by a car while out running in Cambridgeshire on Saturday morning, his lawyer said.
Mr Chamberlain had faced the same charges of fraud and conspiracy as his former boss Mr Lynch - one of six people reported missing after a luxury yacht was struck by an unexpectedly violent storm and sank off Sicily early on Monday.
He had been accused of allegedly scheming to inflate the value of Autonomy, then Britain's largest software firm, before it was sold to Hewlett-Packard (HP) in 2011.
In a statement released by Cambridgeshire Constabulary, his family said in a statement: "Steve was a much-loved husband, father, son, brother and friend.
"He was an amazing individual whose only goal in life was to help others in any way possible.
"He made a lasting impression on everyone who had the privilege of knowing him.
"He will be deeply missed but forever in the hearts of his loved ones."
Mr Chamberlain and Mr Lynch were acquitted of all 15 charges by a jury in the fraud case in San Francisco in June.
In a statement on Monday, Mr Chamberlain's lawyer, Gary Lincenberg, who described him as a "dear client and friend", said he had died after being "fatally struck" by a car while out running near Stretham.
At the weekend police in Cambridgeshire appealed for witnesses and information after a man in his 50s, from Longstanton, was taken to hospital with serious injuries.
The force said a blue Vauxhall Corsa was travelling between Stretham and Wicken on the A1123 when it collided with a pedestrian at about 10.10am in Newmarket Road. On Tuesday, it renewed its appeal.
![co to yacht A map showing the location of the A1123 Newmarket Road near Stretham](https://e3.365dm.com/24/08/768x432/skynews-wicken-stretham-a1123_6661380.png?20240820083549)
The force added in a statement: "The driver of the car, a 49-year-old woman from Haddenham, remained at the scene and is assisting with enquiries."
Meanwhile, a search for Mr Lynch, 59, is still under way after a UK-flagged superyacht named Bayesian sank .
![co to yacht co to yacht](https://e3.365dm.com/24/08/768x432/skynews-mike-lynch-yacht-italy_6660915.jpg?20240819135350)
One person is dead and the British tech billionaire, who owned the 56-metre vessel (183ft), is one of six people missing, including several of others Mr Lynch has worked with.
Mr Lynch's 18-year-old daughter Hannah is among those missing after his yacht sank, local media reports, however his wife Angela Bacares is confirmed to be among the 15 people who were rescued after it capsized at about 4.30am local time (3.30am UK time) on Monday.
Follow live updates: People missing after superyacht sinks
![co to yacht Autonomy logo](https://e3.365dm.com/16/07/768x432/autonomy-logo-1_3530322.jpg?20240819204912)
Mr Chamberlain worked as Autonomy's vice president of finance until he left in 2012 to work as chief operating officer for cybersecurity firm Darktrace, a firm founded by Invoke Capital, which itself was owned by Mr Lynch.
![co to yacht Follow Sky News on WhatsApp](https://e3.365dm.com/24/03/512x512/skynews-gfxwhatsapp-gfxwhatsapppromo_6490210.png)
Keep up with all the latest news from the UK and around the world by following Sky News
He also volunteered as a finance director for Cambridge United, according to his LinkedIn profile.
The sale of Autonomy was the biggest tech takeover of a FTSE 100 firm at the time - but HP wrote down £5.5bn of the company's value within a year, claiming revenue streams were inflated.
Related Topics
- Superyacht sinking
- Today's news
- Reviews and deals
- Climate change
- 2024 election
- Newsletters
- Fall allergies
- Health news
- Mental health
- Sexual health
- Family health
- So mini ways
- Unapologetically
- Buying guides
Entertainment
- How to Watch
- My watchlist
- Stock market
- Biden economy
- Personal finance
- Stocks: most active
- Stocks: gainers
- Stocks: losers
- Trending tickers
- World indices
- US Treasury bonds
- Top mutual funds
- Highest open interest
- Highest implied volatility
- Currency converter
- Basic materials
- Communication services
- Consumer cyclical
- Consumer defensive
- Financial services
- Industrials
- Real estate
- Mutual funds
- Credit cards
- Balance transfer cards
- Cash back cards
- Rewards cards
- Travel cards
- Online checking
- High-yield savings
- Money market
- Home equity loan
- Personal loans
- Student loans
- Options pit
- Fantasy football
- Pro Pick 'Em
- College Pick 'Em
- Fantasy baseball
- Fantasy hockey
- Fantasy basketball
- Download the app
- Daily fantasy
- Scores and schedules
- GameChannel
- World Baseball Classic
- Premier League
- CONCACAF League
- Champions League
- Motorsports
- Horse racing
New on Yahoo
- Privacy Dashboard
What we know about Bayesian yacht tragedy as missing six feared dead
The yacht's chef recaldo thomas has been named as the only body so far recovered with uk tech tycoon and his daughter among six others missing, feared dead..
The six people still missing after the British luxury yahct the Bayesian sank off the Sicily coast on Monday are feared dead, rescuers have said.
So far only one body has been recovered, which is believed to belong to Recaldo Thomas, a Canadian-Antiguan chef who was working on the 56m boat, which sank near near Palermo in the early hours of Monday.
British tech tycoon Mike Lynch, 59, and his 18-year-old daughter Hannah are among six people still unaccounted for.
Morgan Stanley International Bank chairman Jonathan Bloomer and his charity trustee wife Judy are also among the missing, as is Clifford Chance lawyer Christopher Morvillo and his wife, Neda, a jewellery designer.
Storms and heavy rains have ravaged Italy in recent days, after weeks of scorching heat warmed the sea temperature to record highs, raising the risk of extreme weather conditions.
The six missing passengers are feared dead, the Italian coastguard said on Tuesday afternoon, as a sailing expert said hatches and doors left open overnight on the superyacht may have caused it to sink.
Read a full breakdown of the key updates or click below to skip to each section
> What happened to the Bayesian?
> Who was on board?
> What is the search latest?
> What we still don't know
> Co-defendant in fraud trial killed in separate tragedy
What happened to the Bayesian?
The British-flagged vessel was carrying 22 people - 12 passengers and 10 crew - when it was hit by a heavy storm that created waterspouts over the water on Monday morning.
It was reportedly anchored to the sea bed near the harbour of the small fishing village of Porticello, to the east of Palermo, when the storm struck and caused the boat to sink at around 5am local time.
Sailing expert Sam Jefferson, editor of magazine Sailing Today, said the vessel’s huge mast is likely to have contributed to the tragedy.
“I would have said that the boat got hit very hard by the wind, it was pinned over on its side," he said. “I imagine all the doors were open because it was hot, so there were enough hatches and doors open that it filled with water very quickly and sank like that."
Fire department diver Marco Tilotta told reporters the vessel appeared to be intact and was lying on its right side. Divers had not ascertained whether the 72-metre-long mast had snapped during the tempest.
Karsten Borner, skipper of a boat that had been moored alongside the Bayesian, said the yacht flipped on its side soon after the storm hit and sank within two minutes, giving those below deck little time to get to safety.
Read more: What we know about the Bayesian superyacht that sank (Sky News)
Who was on board?
Missing or confirmed dead.
Once described as "Britain's Bill Gates", the 59-year-old technology tycoon, born in Ilford, Essex, to Irish parents, founded software giant Autonomy in 1996, later selling it to US company Hewlett Packard for £8.6bn in 2011.
He went on trial in San Francisco over a fraud charges related to the sale, but was found not guilty on all counts. A spokesperson for Lynch has said there was no comment.
Hannah Lynch
Sicily’s civil protection agency told the BBC that Lynch's 18-year-old daughter was also among those missing.
Jonathan Bloomer
Bloomer, 70, chairman of Morgan Stanley Bank International and insurance company Hiscox, is missing along with his wife, Judy, who was called a "brilliant champion for women's health" by gynaecological cancer research charity the Eve Appeal, where she has been a trustee for more than 20 years.
Hiscox group chief executive Aki Hussain confirmed the couple were missing.
“We are deeply shocked and saddened by this tragic event," he said.
“Our thoughts are with all those affected, in particular our chair, Jonathan Bloomer, and his wife Judy, who are among the missing, and with their family as they await further news from this terrible situation.”
Chris Morvillo
A US partner at law firm Clifford Chance, Morvillo worked on the case that saw Lynch cleared of fraud. It is thought the yacht trip was a celebration of Lynch's acquittal. He was on board the yacht with his wife, Neda, an American jewellery designer.
A spokesperson for Clifford Chance confirmed the couple are missing. “We are in shock and deeply saddened by this tragic incident," they said.
“Our thoughts are with our partner, Christopher Morvillo, and his wife, Neda, who are among the missing."
Recaldo Thomas
The body recovered by rescuers on Monday is believed to be that of Recaldo Thomas, a Canadian-Antiguan chef who was working on the ship.
Gareth Williams, a friend of 30 years who grew up with Thomas, told the BBC: "I can talk for everyone that knew him when I say he was a well-loved, kind human being with a calm spirit."
Another friend, Eli Fuller, said he had become an inspiration to young black children who wanted to get into yachting.
"The kids would see all these white people working on yachts. For them to see an Antiguan man travelling all over the world - it was important for our community."
In a Facebook post, Rose Marie, who also works in the yachting industry, said: "Christ I’m going to to miss you so, so very much my dearest friend,my partner in crime.
An honour and a pleasure to have been your friend, it just wasn’t long enough ….we had so much to conquer. Such a very special person for many of us, the laughter, the great kindness the generosity…the love… he had so much to give."
The Survivors
Angela bacares.
The 57-year-old wife of Lynch is reportedly recovering in a wheelchair after injuries she sustained while escaping the yacht, of which she is understood to be the owner.
She told La Repubblica that the couple woke up at 4am when the vessel made a "slight tilt". She reportedly sustained injuries to her feet after walking through broken glass to get off the boat.
Charlotte Golunski
Briton Charlotte Golunski, a partner at Invoke Capital, founded by Lynch, was rescued from the water with her husband James Emsley and their one-year-old daughter, Sofia, whose live she saved.
Golunski said they survived because they were on deck when the yacht started to sink.
She told La Repubblica: "For two seconds I lost my daughter in the sea then quickly hugged her amid the fury of the waves. I held her afloat with all my strength, my arms stretched upwards to keep her from drowning.
“It was all dark. In the water I couldn’t keep my eyes open. I screamed for help but all I could hear around me was the screams of others.”
All three family members were treated in hospital before leaving at lunchtime on Tuesday.
Ayla Ronald
A senior associate at law firm Clifford Chance, New Zealand lawyer Ronald, 36, worked on Lynch's acquittal.
Her father, Lin Ronald, told The Telegraph she had been invited on to the yacht to celebrate the court case win. He said she had texted him to say that she and her partner, Matthew Fletcher, had survived the sinking.
Clifford Chance confirmed on Tuesday that Ronald and her partner had been rescued from the superyacht.
Other survivors
A number of people thought to have been rescued have been named by various local media, including captain James Catfield; Sasha Murray, 29, from Ireland; Myin Htun Kyaw, 39, who has a Burmese passport, and Matthew Griffith.
A Dutch foreign ministry spokesperson said a man from the Netherlands had been rescued and was not in a life-threatening condition. South African nationals Leah Randall and Katja Chicken, who worked as crew members on the Bayesian, were named by the Italian coastguard. It has been reported that all 15 survivors are now at a hotel in the city of Bagheria.
British ambassador to Italy, Edward Llewellyn, said four British citizens are missing and seven have been accounted for.
Speaking outside a hotel where he met survivors, he said: “My heart goes out to them. I’ve spoken to some of the British survivors both yesterday and today — I want to express my deep sympathy from myself and colleagues at the British Embassy for what’s happened."
Read more: ‘I held her afloat with all my strength’: British mother saves baby from drowning on superyacht (The Telegraph)
Bayesian search latest
The six people who are missing are feared to have died, with their bodies trapped inside the yacht, the Italian coastguard said on Tuesday.
Asked about the likelihood of them being alive, spokesman Vincenzo Zagarola said: “Never say never, but reasonably the answer should be not.”
Divers have reportedly opened a hole in the ship's hull in an effort to access the cabins.
The fire department, Vigili del Fuoco, said that early inspections of the wreck were “unsuccessful” due to limited access to the bridge and furniture obstructing passages.
Divers are tag-teaming in 12-minute underwater shifts to search the vessel, with the teams made up of two specialist cave divers. The rotating search teams can only stay below for that length of time because the Bayesian vessel is resting at a depth of 50m – requiring special precautions.
The UK's Marine Accident Investigation Branch said four of its inspectors were being deployed to Palermo to make a basic assessment. It has not launched an investigation at this stage.
Read more: Search for missing tech magnate to resume after superyacht sinks near Sicily (PA Media)
What we don't know
While it is thought the yacht encountered bad weather, the exact nature of the incident hasn't been confirmed.
One witness told the Ansa news agency the boat "took a little to raise the anchor" and head into the nearby port, adding: "They were evidently surprised by the storm that suddenly fell and failed to avoid the sinking."
It is thought the storm would have broken the vessel's sail tree, which would have caused an imbalance of the boat, Ansa reported, but this has not been confirmed by authorities.
Luca Mercalli, one of Italy’s leading climate experts and president of the Italian Meteorological Society, suggested that given that authorities had issued a "yellow" weather alert, followed by a "moderate" alert, crew could have been more vigilant.
“I don’t know if there was anyone on board consulting the radar," he told the Telegraph. “Let’s say that if I had been on board, at the first sign of a thunderstorm I would have woken up all the occupants and been ready and alert with life jackets on until the storm was over.”
Co-defendant in fraud trial killed in separate tragedy
Lynch's co-defendant in his US fraud trial, Stephen Chamberlain, died after he was hit by a car on Saturday.
Chamberlain, the former vice-president of Autonomy, was struck by the vehicle while out running in Cambridgeshire on Saturday morning, his lawyer said.
He and Lynch were acquitted of all 15 fraud and conspiracy charges against them over the sale of Autonomy to Hewlett Packard.
Chamberlain's lawyer, Gary Lincenberg, said: “Our dear client and friend Steve Chamberlain was fatally struck by a car on Saturday while out running. He was a courageous man with unparalleled integrity. We deeply miss him.
“Steve fought successfully to clear his good name at trial earlier this year, and his good name now lives on through his wonderful family.”
Read more: Mike Lynch's co-defendant dies after being hit by car days before yacht sinking (Sky News)
![](http://mengov24.online/777/templates/cheerup/res/banner1.jpg)
Recommended Stories
Mike lynch, recently acquitted in hp-autonomy fraud case, is missing after yacht capsized off sicily (updated).
Original article continues below. Mike Lynch, the investor and high-profile founder of U.K. tech firm Autonomy, has been declared missing at sea after the yacht he was on, the Bayesian, capsized in a storm off the coast of Sicily early Monday morning. Lynch's wife, Angela Bacares, is one of the 15 who have been rescued.
Luxury superyacht sinks off Italy coast in freak storm. 6 people, including British tech magnate Mike Lynch, are still missing.
Six passengers are still unaccounted for after a luxury superyacht capsized off the coast of Sicily. Tech entrepreneur Mike Lynch is among those missing, along with his 18-year-old daughter.
The banks that loaned Musk $13B to buy Twitter might be having regrets
X, formerly known as Twitter, looks like a pretty bad investment right about now. As readers might recall, Elon Musk borrowed $13 billion from Morgan Stanley, Bank of America and five other major banks to help finance its $44 billion acquisition. According to the WSJ, the deal has since become the worst merger-finance deal for banks since the 2008-2009 financial crisis.
Breakout alert! 10 players to target in your drafts | Yahoo Fantasy Forecast
'Convictions Week' continues on the pod this week as we identify the 10 players that are poised to breakout in 2024 and massively out kick their ADP. In the LA studio, Andy Behrens is joined by Tera Roberts to debate and pick their favorite breakout candidates this year. The two also dive into the fantasy mailbag to answer your most pressing draft questions.
DNC 2024 live updates: Barack Obama urges Democrats to 'get to work' on electing Kamala Harris
The Democratic National Convention will be held Monday through Thursday of this week.
Are money market accounts safe?
If you’re looking for a bank account that offers high interest rates and flexibility when it comes to accessing your money, a money market account could be the right choice. But are these accounts safe? Here’s what you need to know.
Should you use a credit card to pay for college textbooks?
College textbooks often cost a pretty penny. Learn more about the best ways to pay for them, and if using a credit card is a good idea.
The Macy's end-of-summer sale is huge — shop deals on Coach, Cuisinart and more
Save up to 70% on clothing, cookware, bedding and other goodies that'll get you excited for fall.
Best hotel credit cards for August 2024
Planning your next vacation? Earn rewards, free nights, elite status, and more with these top hotel credit cards.
How the Federal Reserve rate decision affects mortgage rates
The Federal Reserve affects mortgage rates by setting a federal funds rate at Fed meetings. Learn how the Fed could impact your rate when you buy or refinance.
Cisco employees face a month of silence ahead of second layoff in 2024
After tech giant Cisco announced plans for its second round of layoffs this year, employees tell TechCrunch that they will not know if they are affected for close to a month. Earlier this month, Reuters reported that Cisco was planning a second round of layoffs this year, after letting go of around 4,000 workers in February. Cisco confirmed last week in a SEC filing that it is cutting 7% of its workforce.
Flyers waive Ryan Johansen, citing breach of contract. Agent claims forward has 'severe hockey injury'
Johansen never played for the Flyers after being acquired at the March NHL trade deadline.
More middle-aged adults have been dying from strokes. Experts cite 3 factors that might be to blame.
A new report from the Centers for Disease Control and Prevention found that more American adults between the ages of 45 and 64 have been dying from strokes.
Best travel credit cards for August 2024
Here are some of the top travel credit cards available right now, whether you’re looking for everyday rewards or luxury benefits.
Oklahoma State football helmets to have QR codes for fans linking to NIL donation page
Fans will be presented with multiple donation options ranging from $100 to $5,000 to "other."
Borderlands 4 is coming in 2025
Borderlands 4 is the next entry in the popular franchise from Gearbox Software and 2K Games. It's due to arrive in 2025.
Americans think they'll be out of work and are looking for jobs at highest rate in 10 years: NY Fed survey
More Americans are looking for jobs as unemployment concerns rise to their highest level in a decade.
OpenAI will now use content from Wired, Vogue and The New Yorker in ChatGPT's responses
The partnership comes amid growing concerns over the unauthorized use of publishers’ content by AI companies.
Fantasy Basketball: Draft strategy for approaching LeBron James and other 35+ year olds
These veteran players will have age-related question marks surrounding them for the 2024-25 fantasy basketball season.
Best credit cards for gas for August 2024
With gas prices consistently climbing, see which cards can help you save the most at the pump.
- Skip to main content
- Keyboard shortcuts for audio player
Who are Mike Lynch and the other people missing after a yacht sank in Sicily?
Bill Chappell
![co to yacht Mike Lynch remains missing after a luxury yacht sank off of Sicily's coast. Lynch, who sold his tech firm Autonomy to Hewlett-Packard in 2011, had recently been acquitted of fraud charges related to the sale.](https://npr.brightspotcdn.com/dims3/default/strip/false/crop/6720x4480+0+0/resize/1100/quality/85/format/jpeg/?url=http%3A%2F%2Fnpr-brightspot.s3.amazonaws.com%2F81%2Fd2%2F2f96d7264b0f8a637f47eb8feed2%2Fgettyimages-1152295880.jpg)
Mike Lynch remains missing after a luxury yacht sank off of Sicily's coast. Lynch, who sold his tech firm Autonomy to Hewlett-Packard in 2011, had recently been acquitted of fraud charges related to the sale. Dan Kitwood/Getty Images hide caption
Search teams are scouring waters along Italy’s southwestern shore, where a luxury sailing yacht sank early Monday. Six people are known to be missing, including British tech tycoon Mike Lynch and his daughter, and Morgan Stanley International Chairman Jonathan Bloomer and his wife.
Faced with the possibility that some people might have been trapped inside the ship when it sank in a storm, dive teams (including cave divers from the local fire brigade) have been looking for ways to enter the vessel.
The Palermo Coast Guard told NPR on Tuesday that such an operation is complicated by the depth and position of the hull, which lies on the seabed at a depth of around 50 meters, about a half-mile from the port in Porticello, Sicily.
Lynch, a mathematician and longtime tech entrepreneur, was on a vacation voyage that apparently doubled as a celebration of his recent acquittal on federal fraud charges in the U.S. At least two members of his legal team were reportedly on the boat.
Here’s what we know about Lynch and the tragic situation off Sicily’s coast:
![co to yacht A rescue boat of the Italian Coast Guard operates in Porticello near Palermo, on Aug. 20.](https://npr.brightspotcdn.com/dims3/default/strip/false/crop/8256x5504+0+0/resize/1100/quality/50/format/jpeg/?url=http%3A%2F%2Fnpr-brightspot.s3.amazonaws.com%2F73%2F25%2Fe33843cb455fb29845a1ac5b9ec9%2Fgettyimages-2166881204.jpg)
A rescue boat of the Italian Coast Guard operates in Porticello near Palermo, on Tuesday, a day after the British-flagged luxury yacht Bayesian sank. Specialist divers launched a fresh search for six people, including U.K. tech tycoon Mike Lynch. Alberto Pizzoli/AFP via Getty Images hide caption
Who is Mike Lynch?
Lynch, 59, made his name as the founder and longtime leader of Autonomy, a search engine and software company that helped companies manage information. Hewlett-Packard bought Autonomy for $11 billion in 2011, but Lynch then faced accusations — and then federal charges — that he had misrepresented his company’s financial health and prospects. Lynch denied the claims, saying HP was blaming him for its own problems.
Lynch was indicted on multiple fraud and conspiracy counts in late 2018, months after Autonomy’s former chief financial officer, Sushovan Hussain, was convicted of fraud (he was later sentenced to five years in prison).
![co to yacht Emergency services at the scene of the search for a missing boat Monday in Porticello Santa Flavia, Italy.](https://npr.brightspotcdn.com/dims3/default/strip/false/crop/2000x2000+500+0/resize/100/quality/15/format/jpeg/?url=http%3A%2F%2Fnpr-brightspot.s3.amazonaws.com%2F8c%2F7d%2F460dbde44c24b2dd23ac5611310f%2Fap24232519315266.jpg)
Search resumes for British tech magnate and 5 others after yacht sinks off Sicily
Lynch successfully delayed extradition from the U.K. until May 2023 . Earlier this year, the case finally culminated in a lengthy trial in San Francisco that ended with Lynch’s acquittal of all charges against him in June , after he testified on his own behalf.
Also acquitted was Stephen Chamberlain, Autonomy’s former finance VP. But on Saturday — just two days before Lynch was caught in a boating catastrophe — Chamberlain was killed in a car accident , after he was struck while out for a run.
Lynch earned a Ph.D. in adaptive pattern recognition from Cambridge University. In 2006, he was awarded an Officer of the Order of the British Empire (OBE) honor for his work in the U.K.’s tech industry. After selling Autonomy, he founded an investment group focused on startups emerging from Cambridge University.
Who else was aboard?
Survivors include Lynch's wife, Angela Bacares, along with Charlotte Golunski, who works at Invoke Capital, Lynch’s venture capital firm. Golunski was on the ship with her daughter, Sofia, who had just celebrated her first birthday. In an interview with La Repubblica , Golunski said she held her little girl as she floated in darkness, using all her strength to keep her arms up and prevent Sofia from drowning. Sophia’s father was also onboard and survived.
Ayla Ronald, a lawyer who worked on Lynch’s fraud case, and her partner also escaped the wreck. Other survivors include several crew members, including two women in their early 20s who were part of the ship’s staff.
Missing along with Lynch and Bloomer are Lynch’s daughter, Hannah, 18; Bloomer’s wife, Judy; a lawyer for Lynch named Chris Morvillo; and his wife, Neda, according to local newspaper Giornale di Sicilia .
Bloomer was a partner at Arthur Andersen for some 20 years, until 1994, according to his LinkedIn profile . He then led the financial services company Prudential before taking on a number of chairman roles, including at the legal services firm DWF.
Bloomer is also currently chairman of insurance company the Hiscox Group.
“We are deeply shocked and saddened by this tragic event,” Hiscox CEO Aki Hussain said in a statement sent to NPR. “Our thoughts are with all those affected, in particular our Chair, Jonathan Bloomer, and his wife Judy, who are among the missing, and with their family as they await further news from this terrible situation.”
#Palermo , naufragio imbarcazione a Porticello: proseguono da parte dei #vigilidelfuoco le ricerche delle 6 persone segnalate come disperse. Giunti da Cagliari, Sassari e Roma i #sommozzatori speleo [ #19agosto 19:30] pic.twitter.com/7WY30ckxcK — Vigili del Fuoco (@vigilidelfuoco) August 19, 2024
What happened to the yacht?
The gathering took place aboard a massive sailing yacht called Bayesian — a term that, in mathematics and statistics, refers to probability and uncertainty. The yacht’s overall length is listed at 55.9 meters (183 feet).
The Bayesian was off the coast of Porticello when it was swamped by a violent storm before dawn on Monday morning. Numerous eyewitness accounts cited a waterspout — a highly localized spiraling storm that’s essentially a marine tornado. Around that time, the Bayesian was located in the Tyrrhenian Sea, according to the Marine Traffic tracking site.
The ship, which had 22 people aboard, sank. In the aftermath, 15 people were rescued, but one died and six were unaccounted for.
What about the rescue effort?
Helicopters and marine craft have been searching for any sign of the passengers, hoping to find more survivors. Sea and cave divers have also been part of the effort.
Italy’s fire brigade, Vigili del Fuoco, says it is working on a plan for divers to enter the sunken vessel. An initial attempt on Monday was cut short after divers were able to gain only limited access , citing furniture that blocked a passageway.
When asked about the possibility of finding any other survivors of the calamity, Comandante Vincenzo Zagarola of the Italian Coast Guard told radio station RTL 102.5 on Tuesday that given how much time has elapsed, it’s difficult to imagine a good outcome for the missing passengers. But, he said, the search will continue.
Tech tycoon, defense attorney, and Morgan Stanley banker among those missing in freak yacht sinking
A superyacht that sank off the Sicilian coast during a storm left six passengers missing, including British tech kingpin Mike Lynch and his daughter Hannah
LONDON -- A superyacht that sank Monday off the Sicilian coast during a storm left six passengers missing, including British tech kingpin Mike Lynch and some of his inner circle, who were gathered to celebrate his victory in a long-running legal trial.
Lynch was acquitted in June in a U.S. fraud case and was apparently aboard the Bayesian with some of the people who stood by him throughout the ordeal. Another member of Lynch's legal team who wasn't aboard, Reid Weingarten, said the outing was intended in part as a celebration of the acquittal.
Here's a look at the people who are missing, as well as details on the recent death of an associate of Lynch who was not on the yacht.
Software entrepreneur Mike Lynch , along with his daughter, Hannah, are among those that police divers are searching for after the yacht was struck by a waterspout off of Porticello, near Palermo.
A spokesperson for Lynch said there were no updates Tuesday.
Lynch had been trying to move past a Silicon Valley debacle that had tarnished his legacy as an icon of British ingenuity.
A Cambridge-educated mathematician, Lynch made his mark with Autonomy, which made a search engine that could pore through emails and other internal business documents to help companies find vital information more quickly. Autonomy’s steady growth in its first decade resulted in Lynch being dubbed Britain’s Bill Gates and earning him one of the U.K’s highest honors, the Office of the Most Excellent Order of the British Empire in 2006.
Lynch, 59, sold Autonomy to Hewlett-Packard for $11 billion in 2011 . But the deal quickly turned sour after he was accused of cooking the books to make the sale.
The fraud allegations resulting in Lynch being fired by HP’s then-CEO Meg Whitman and a decade-long legal battle. It culminated with him being extradited from the U.K. to face criminal charges of masterminding a multibillion-dollar fraud.
Lynch steadfastly denied any wrongdoing, asserting that he was being made a scapegoat for HP’s own bungling — a position he maintained while testifying before a jury during a 2 1/2 month trial in San Francisco earlier this year. U.S. Justice Department prosecutors called more than 30 witnesses in an attempt to prove their allegations against Lynch.
Lynch was vindicated at trial in June after being cleared of all charges. Lynch pledged to return to the U.K. and explore new ways to innovate.
Although he avoided a possible prison sentence, Lynch still faced a potentially huge bill stemming from a civil cased in London that HP mostly won in 2022. Damages haven’t been determined in that case, but HP is seeking $4 billion. Lynch made more than $800 million from the Autonomy sale.
Lynch later went on to set up technology investment firm Invoke Capital.
One of Lynch’s U.S. lawyers, Christopher Morvillo of the firm Clifford Chance, and his wife Neda were also on the yacht and are among those unaccounted for.
Morvillo is regarded as an elite defense attorney specializing in fraud and corruption cases. He was previously a federal prosecutor in New York who worked on the criminal investigation of the Sept. 11, 2001, terrorist attacks. His father, Robert Morvillo, was also a lawyer who represented high-profile clients, including Martha Stewart.
In a LinkedIn post soon after Lynch's acquittal, Morvillo paid tribute to the team of lawyers who worked on the case and also his wife and two daughters.
“None of this would have been possible without your love and support. I am so glad to be home,” he wrote. The post ended with the words: “And they all lived happily ever after….”
In a legal podcast released last week, Morvillo recounted his involvement with Lynch's case, starting from when his firm was hired in November 2012.
He flew to London to meet Lynch on Thanksgiving weekend that year and assumed he would be gone for a week, Morvillo told the For the Defense podcast. Instead, Morvillo said he “spent a significant portion of the rest of my life bouncing back and forth between London and New York.”
The case has “covered one third of my career,” he said. “It has been a constant presence in my life for the last 12 years.”
Clifford Chance said it was “in shock and deeply saddened by this tragic incident” and that its thoughts are with Morvillo and his wife. “Our utmost priority is providing support to the family,” the firm said.
The chairman of Morgan Stanley's London-based investment banking subsidiary, Jonathan Bloomer, and his wife, Judy, were also among the yacht's missing.
Bloomer is non-executive chairman of both Morgan Stanley International, which covers markets outside the U.S., and the Hiscox Group, an insurer that does business on the Lloyd’s of London insurance marketplace.
Lynch appointed Bloomer to Autonomy’s board of directors in 2010, where he served as chairman of the audit committee at the time of the HP deal. Bloomer testified for the defense at Lynch’s trial.
Both Morgan Stanley and Hiscox said they were “deeply shocked and saddened" by the tragedy.
“Our thoughts are with all those affected, in particular the Bloomer family, as we all wait for further news from this terrible situation," the bank said.
Aki Hussain, the group chief executive of Hiscox, said "our thoughts are with all those affected, in particular our chair, Jonathan Bloomer, and his wife Judy, who are among the missing, and with their family as they await further news from this terrible situation.”
In a strange coincidence, another former Autonomy executive who was acquitted alongside Lynch of the fraud charges died days before the sinking of the Bayesian.
Stephen Chamberlain “was fatally struck by a car on Saturday while out running,” his lawyer Gary Lincenberg said in a statement.
Chamberlain, formerly a vice-president of finance at the company, was accused of artificially inflating Autonomy’s revenues and making false and misleading statements to auditors, analysts and regulators.
He stood trial with Lynch, and was also found not guilty.
“He was a courageous man with unparalleled integrity. We deeply miss him," Lincenberg said. “Steve fought successfully to clear his good name at trial earlier this year, and his good name now lives on through his wonderful family.”
Chamberlain “was a much-loved husband, father, son, brother and friend," his family said in statement released through Cambridgeshire Police. “He was an amazing individual whose only goal in life was to help others in any way possible."
Police said the driver, a 49-year-old woman, remained at the scene in the village of Stretham, England, and was assisting with the investigation.
AP writer Eric Tucker in Washington contributed to this report.
This version has corrected a date to 2001 sted 2002.
Trending Reader Picks
![co to yacht](https://i.abcnewsfe.com/a/752b0a77-7bd1-4093-a177-491c9e16c13e/wirestory_1164e1d652235415b2817ef84173df8e_square.jpg?w=208)
Thousands still without power in Puerto Rico
- Aug 20, 1:43 PM
![co to yacht](https://s.abcnews.com/assets/dtci/images/default-news-logo.png?w=208)
Michigan doctor charged with taking photos and videos of naked children and adults
- Aug 20, 4:01 PM
![co to yacht](https://i.abcnewsfe.com/a/e2833cbf-b395-4c2a-bf99-a2fc0cd45418/wirestory_d31077f7873a59a34796eda9b80a5cb1_square.jpg?w=208)
France: 25,000 police will guard Paralympic Games
- Aug 20, 9:48 AM
![co to yacht](https://i.abcnewsfe.com/a/ed12394c-1f9c-469e-92ce-cdd7acb5a734/wirestory_7eb9496d2f22f85b82e9cfccaa397657_square.jpg?w=208)
What is known about the sinking of a luxury yacht off the coast of Sicily and those aboard
- Aug 20, 9:34 AM
![co to yacht](https://i.abcnewsfe.com/a/7e34e25b-de08-4f98-bc5e-fadbf4cc24f4/wirestory_9f4f3b6d7b48bb3c76dd98e35ab973c1_square.jpg?w=208)
Search resumes for 6 from sunken superyacht
- Aug 20, 2:46 AM
ABC News Live
24/7 coverage of breaking news and live events
Watch CBS News
Tornado likely sank luxury yacht off coast of Sicily, officials say, as search for survivors continues
Updated on: August 20, 2024 / 7:56 PM EDT / CBS/AP
Police divers resumed searching Tuesday for six people believed trapped in the hull of a superyacht that sank in deep seas off Sicily, including a British tech magnate who was celebrating his recent acquittal on fraud charges with the people who had defended him at trial.
Civil protection officials said they believed the Bayesian, a 184-foot British-flagged yacht, had been struck by a tornado over the water. The ship had been moored about a half-mile offshore off Porticello near Palermo when a storm rolled and the vessel sank at about 5 a.m. local time on Monday .
Grainy film from closed-circuit cameras from shore, broadcast on the website of the Giornale di Sicilia, showed the majestic, illuminated 246-foot mast of the Bayesian weathering the storm and then disappearing over the course of a minute.
Fifteen of the 22 people aboard survived, including a mother who reported holding her 1-year-old baby over the waves to save her. One body was recovered, identified by officials as the Antiguan-born on-board chef. The rest of the 10-person crew survived, including the captain whom prosecutors reportedly sought to interview.
![co to yacht Italy Boaters Missing](https://assets2.cbsnewsstatic.com/hub/i/r/2024/08/20/a5fe57e3-6e31-42e9-a61a-2aaab9e14e2d/thumbnail/620x775/5254e799d1b0709019b7e3e6ea8bc89a/ap24232423909845.jpg?v=fd6e213336f58b575c9e836e95546d26#)
However, CBS News senior weather producer David Parkinson said Tuesday that it's still too early to determine whether the yacht was hit by a waterspout or a downburst. A waterspout is a meteorological term for a tornado over water, while a downburst consists of powerful winds that descend from a thunderstorm and can often be misinterpreted as a tornado, according to the National Weather Service.
As of now, Parkinson said, it's only safe to say that the yacht was impacted by a severe thunderstorm. Based on satellite imagery, there were strong to violent thunderstorms in the area where the yacht sank, Parkinson said.
That said, early Monday morning conditions were appropriate for either the development of a waterspout or a downburst, Parkinson explained. At around 4 a.m. local time Monday, the winds spiked, with wind gusts above 43 mph in Palermo. About 10 minutes later in the town of Aspra — which is 20 miles from Palermo and three to four miles west of where the boat sank — wind gusts of 51 mph were recorded, and the thunderstorms appeared to intensify as they moved east.
In cases of downbursts, when wind hits the water's surface, it increases the wind speed, Parkinson said. While at the time the boat sank, water temperatures were 84 degrees Fahrenheit, which would be warm enough to support the development of a waterspout, Parkinson said.
"It's a great, great tragedy," said Britain's ambassador to Italy, Edward Llewellyn, who visited Porticello on Tuesday. Britain sent four investigators to the scene, given the disaster involved a British-flagged ship and British citizens were among the missing.
Fire rescue officials have said the six other passengers will be considered missing until they are located in the wreckage. They include tycoon Mike Lynch , who was once hailed as Britain's king of technology and was cleared in June of fraud and conspiracy charges in a U.S. federal trial related to Hewlett Packard's $11 billion takeover of his company, Autonomy Corp.
Also unaccounted for are Christopher Morvillo, one of Lynch's lawyers, and Jonathan Bloomer, a chairman at Morgan Stanley International and the former head of the Autonomy audit committee who testified in Lynch's defense.
The wreckage of the luxury craft is some 164 feet underwater — far deeper than most recreational divers are certified for and a depth that requires special precautions. Recovery crews could only stay for 12-minute shifts, a measure that slowed their efforts to reach the cramped inside of the wreck.
![co to yacht Italy Boaters Missing](https://assets1.cbsnewsstatic.com/hub/i/r/2024/08/20/2a97bda3-737c-4b9e-8749-9983726a47a8/thumbnail/620x349/a592213d5e321e3293221e7036bdb52b/ap24233431518880.jpg?v=fd6e213336f58b575c9e836e95546d26#)
Karsten Borner, the captain of the Sir Robert Baden Powell, which rescued the 15 survivors who managed to get into a lifeboat, said he was close enough to be able to see the Bayesian as the storm came in.
"A moment later, she was gone," he said. "They said they went flat on the water and were sunk in two minutes," Borner added, quoting the survivors.
The rotating search teams, each made up of two specialized cave divers, worked Tuesday to open up access points to get inside the wreck. They were using a remote-controlled underwater vehicle, or ROV, to help in the search.
The divers hadn't been able to access the below-deck cabins because they were blocked by furniture that had shifted during the violent storm. Rescue crews said they assume the missing six are in those cabins because the storm struck when most would be sleeping, but the teams haven't verified their presence there through portholes.
Luca Cari, a spokesman for the rescue teams, said the search was proceeding much more slowly than another big shipwreck in Italy, the 2012 Costa Concordia cruise ship that flipped on its side off Tuscany's coast, because of the depth of the wreck and the limited space divers have to maneuver.
"That was much simpler. Here everything is more tight," he said.
The outing was intended at least in part as a celebration of Lynch's acquittal and a "looking forward to what was coming next," said Reid Weingarten, a Washington attorney and a member of Lynch's defense team who was not on the yacht.
"A lot of people went, a lot of people were planning to go and then of course this happened," Weingarten said.
Some of the people who stood by Lynch throughout the ordeal were on board, including Morvillo, the lawyer, who Weingarten worked with and said "was like a brother."
Morvillo's wife, Neda, is also missing, according to his law firm Clifford Chance.
Aki Hussain, CEO of international insurer Hiscox Group, where Bloomer, the witness, was chairman, said the company was "deeply shocked and saddened by this tragic event."
"Our thoughts are with all those affected, in particular our Chair, Jonathan Bloomer, and his wife Judy, who are among the missing, and with their family as they await further news from this terrible situation," he added.
Among the survivors, the Emslie family was released from Palermo's pediatric hospital on Tuesday where little Sofia had been kept overnight after her rescue. Her mother, Charlotte Golunski, had reported that she momentarily lost hold of the 1-year-old in the water but then managed to hold her up over the waves until a lifeboat inflated and they were both pulled to safety, doctors said.
![co to yacht Hewlett Packard Rotten Deal Trial](https://assets3.cbsnewsstatic.com/hub/i/r/2024/06/07/46657686-8124-4406-954c-03a77d1b1b95/thumbnail/620x413/1c46d80cf4d842bb4f1b151f8ac7e444/ap24086656410886.jpg?v=fd6e213336f58b575c9e836e95546d26#)
The father, identified by ANSA news agency as James Emslie, also survived.
"They don't talk much, primarily because they consider themselves survivors and they don't understand why they survived given what they went through," said Dr. Domenico Cipolla, head of the emergency room at Di Cristina Pediatric Hospital.
Speaking to reporters Tuesday, Cipolla said Golunski had reported that she and the baby were sleeping in the cabin and suddenly found themselves in the water, where they also found Emslie who had been in a different part of the ship. Cipolla said the parents had been in touch with other survivors, who are being housed at a nearby hotel and were waiting for other family members to arrive in Sicily.
The baby slept well overnight and all were released after final checks Tuesday morning, he said according to a videotaped interview posted on Palermo Today, adding that psychologists had been made available.
Among the other survivors was Lynch's wife, Angela Bacares. Hannah Lynch, reportedly the couple's 18-year-old daughter, is among the missing.
The yacht's registered owner is listed as Revtom Ltd., according to online maritime database Equasis. Bacares is listed as Revtom's sole owner, according to corporate registration documents from the Isle of Man.
![co to yacht Italy Boaters Missing](https://assets1.cbsnewsstatic.com/hub/i/r/2024/08/20/1c65fe48-0aeb-471a-950e-0d7269b3e7f0/thumbnail/620x413/fe95106e654528b1792af970945bd87e/ap24233272648147.jpg?v=fd6e213336f58b575c9e836e95546d26#)
Its name, Bayesian, may be a reference to "Bayesian Inference," one of the two main approaches to statistical machine learning and the one that was used by Lynch's company.
The yacht, built in 2008 by the Italian firm Perini Navi, was carrying 12 passengers and 10 crew. According to online charter companies, it had been available for charter for about $215,000 a week and was notable for its massive aluminum mast, one of the tallest in the world.
The coast guard said to date there was no trace of fuel leaks from the wreckage.
In an unrelated event, Lynch's co-defendant in the Autonomy trial who was also cleared, Stephen Chamberlain, was killed Sunday when he was hit by a car while running in Cambridgeshire, England, said Chamberlain's lawyer, Gary Lincenberg.
- Boat Accident
- United Kingdom
More from CBS News
![co to yacht](https://assets1.cbsnewsstatic.com/hub/i/r/2024/08/20/982dc8bd-11bc-4d57-a38e-4b5481f78fb6/thumbnail/1200x630/ee640db423bf5f4936393e8ac5ccc14b/bayesian-yacht.jpg?v=fd6e213336f58b575c9e836e95546d26#)
2 Americans, U.K. tech mogul among 6 missing after yacht sinks off Sicily
![co to yacht](https://assets2.cbsnewsstatic.com/hub/i/r/2024/08/20/f72c5625-d87d-4a9f-b66d-ba73fbf2d5dd/thumbnail/1200x630/2d040e88d045fc79eb885150d5cada2a/gettyimages-1238040788.jpg?v=fd6e213336f58b575c9e836e95546d26#)
What to know about Mike Lynch, the tycoon missing from sunken yacht
![co to yacht](https://assets1.cbsnewsstatic.com/hub/i/r/2024/08/20/f4e31191-8e27-4c37-8d07-90a0c6caeb9b/thumbnail/1200x630/c5d28d2bc979e87ba775c01c7175728e/israel-gaza-city-school-strike-aug-24.jpg?v=fd6e213336f58b575c9e836e95546d26#)
Israel accused of deadly strike on Gaza school as truce talks continue
![co to yacht](https://assets3.cbsnewsstatic.com/hub/i/r/2023/03/04/e3faeac1-aeef-4d6a-acb9-50547340c737/thumbnail/1200x630/1c230445b0570eff12c84a59ec77b774/maria-branyas-morera-tcm25-733649.jpg?v=fd6e213336f58b575c9e836e95546d26#)
World's oldest person, U.S.-born Spanish woman, dies at 117, family says
Inside Story of Missing Billionaire Whose Luck Ran Out on Superyacht
Mike Lynch became one of the very few people to score an acquittal in his recent federal criminal case. But months later, that luck was wiped away.
![co to yacht Michael Daly](https://img.thedailybeast.com/image/upload/c_fill,h_200,w_200,x_0,y_0/v1489778926/author/Michae_Daly.jpg)
Michael Daly
Special Correspondent
Henry Nicholls/Reuters
Less than half of 1 percent of federal criminal cases end in an acquittal, so billionaire Mike Lynch and his co-defendant, Stephen Chamberlain, seemed to be the luckiest of unlucky men on June 6 this year, when they were found not guilty of fraud charges that could have landed them in prison for 25 years.
But 2 months after that ebullient moment on the 17th floor of the federal courthouse in San Francisco, their fortunes took a tragic turn.
On Saturday, Chamberlain suffered fatal injuries when he was struck by a car while out for a run near his home in England.
And then, on Monday, Lynch was among the six declared missing after a tornadic waterspout sunk the 184-foot sailing yacht Bayesian, as it was anchored a half-mile off the coast of Sicily. Lynch’s younger daughter, 18-year-old Hannah, who had recently earned a place at Oxford, was also missing. So were one of the defense attorneys in the case, former federal prosecutor Christopher Morvillo, and his wife.
“In the course of 48 hours, I can’t process what has happened, but both of our clients, as well as Chris and his wife, are gone,” law partner Gary Lincenberg told Business Insider .
A paper trail indicates that the ill-fated yacht is owned by Lynch’s wife, Angela Bacares. It is apparently named after the Bayesian Inference, an approach to probability that was both the focus of Lynch’s PhD thesis and the underpinning of the software that made him Britain’s first tech billionaire.
The very fact that Lynch ever got a doctorate from Cambridge was an improbability in itself. He is the son of Irish immigrants. His mother was an intensive care nurse from County Tipperary. His father, a firefighter from County Cork, advised Lynch not to enter a profession that involved charging into burning buildings. Lynch was bright enough to secure scholarships at an exclusive private school and then a university. His genius was not so much in engineering itself, but in applying it.
He studied machine learning before it was fashionable, and co-founded a series of start-ups. One was Autonomy Technology, which he sold to Hewlett-Packard for $11.7 billion after a secret meeting with its top executives in 2011. Hewlett-Packard’s then-CEO, Léo Apotheker, had hoped to turn it from a faltering computer hardware clunker into a high-profit software giant. He ended up taking the combined companies towards an $8 billion loss.
The new CEO, Meg Whitman, alleged that Lynch and others at Autonomy had cooked the books before the sale to make it look more profitable than it was. Hewlett-Packard sued Lynch civilly in England in 2019 and he spent 20 days testifying. Then, in early 2022 , Justice Robert Hildyard issued a 1,700-page decision finding that Lynch and Autonomy had committed fraud. The Crown sought $4 billion in damages that are still pending.
At the same time, federal authorities in the U.S. sought to extradite Lynch on criminal charges. Lynch fought it for two years before he arrived in San Francisco in chains in May of 2023. He was released on $100 million bail and consigned to house arrest in a rental home with cameras installed in every room and two armed guards on duty around the clock.
The judge in San Francisco was Charles Breyer, brother of U.S. Supreme Court Justice Stephen Breyer. Charles had also overseen the trial of Lynch’s right-hand man, Autonomy Chief Financial Officer Sushovan Hussain, on fraud charges, in the same courtroom some months before. Hussain had been convicted. Lynch and Chamberlain seemed all but sure to suffer the same fate as their trial commenced in March of 2024.
British entrepreneur Mike Lynch leaves the High Court in London, Britain March 25, 2019.
The prosecution plodded through seemingly endless exhibits culled from 15 million financial documents and emails obtained for the case. One juror repeatedly dozed off.
“I know it’s not fascinating, but you’ve got to tell me whether you can stay awake for eight more weeks during this testimony,” Breyer said, according to The Times .
“That’s a negative,” the juror replied. “I can’t.”
The juror was replaced with an alternate and the case crept on to when Lynch took the stand on his own behalf. He testified that his first job had been cleaning floors in the hospital where his mother works.
“I’m still a demon mopper,” he testified.
He also described being Irish in England during the war with the IRA.
“You had to learn to run fast,” he said.
When it came to the decision to sell Autonomy, he said Hewlett-Packard was so anxious to make the deal that it had offered double the usual takeover price margin.
“The normal premium on the London market was about 30 percent,” he said. “HP was offering 60 percent. That would be like trying to stop a herd of elephants in terms of shareholders agreeing to it.”
His attorney, Chris Morvillo, asked what the trial had been like for him.
“It’s surreal,” Lynch testified. “I’ve heard comments from people that just don’t paint the picture of the company that I and my colleagues and friends worked at for 15 years.”
Lynch added, “I’ve sat and watched a parade of witnesses that I’ve never met and some that I may have just shaken their hand, and I’ve heard about a series of transactions I have no involvement in.”
At the end of the 11-week trial, the jury acquitted Lynch and Chamberlain of all charges. Morvillo joined in their tearful exultation at being among the lucky very few.
Chamberlain’s luck ran out Saturday with a fatal encounter with a car. Lynch and Morvillo were on the Bayesian at 4:30 a.m. on Monday when the freak storm suddenly struck. An emergency flare went up into the darkness, but the boat had sunk by the time help arrived. The body of the cook was recovered, but there was no sign of six others, including Lynch and his daughter and Morvillo and his wife.
Fifteen of the passengers and crew were rescued. They included Lynch’s wife. There was also a 1-year-old child, Sophia, and her mother, Charlotte Golunski, a partner at another Lynch venture, Invoke Capital. The mother recounted her ordeal to the Italian press, saying she had been on deck when the raging storm tore her child from her arms.
“For two seconds I lost my baby in the sea,” the mother told Giornale di Sicilia . “Then I immediately hugged her again amid the fury of the waves.”
She summoned the fury of a mother.
“I held her afloat with all my strength, my arms stretched upwards to keep her from drowning. It was all dark. In the water, I couldn’t keep my eyes open. I screamed for help, but all I could hear around me was the screams of the others.”
A man in an inflatable lifeboat pulled her and Sophia to safety. They were joined by the child’s father. And they were now Monday’s luckiest of the unlucky.
Got a tip? Send it to The Daily Beast here .
READ THIS LIST
![](http://mengov24.online/777/templates/cheerup/res/banner1.jpg)
COMMENTS
Amazing Awaits. Y.CO is a full service superyacht company providing services in luxury yacht charter, sales, purchase, management, new build and project coordination.
3,697 Crewed Luxury Yachts for Charter SEARCH More Options The Luxury Yacht Charter Marketplace Find and book your dream yacht through YachtCharterFleet, the world's leading luxury yacht charter comparison site. View ALL superyachts available to rent, get expert advice from our comprehensive destination guides and be inspired by our bespoke superyacht itineraries. Let us connect you with a ...
Yacht co-ownership - also referred to as fractional yacht ownership or shared equity yacht ownership - describes an ownership structure that enables a designated number of co-owners to share all the benefits and costs associated with owning a yacht.
Explore luxury yachts for sale around the world. The Y.CO team will help secure the right yacht at the right price and support you in the purchase process.
Browse our portfolio of luxury superyachts for charter at Y.CO. Explore our collection of world-class luxury superyacht rentals and kick off a world-class trip.
Our mission is to deliver unbiased, fact-based reporting that holds power to account and exposes the truth. Whether $5 or $50, every contribution counts. The 50-metre luxury boat, named Bayesian ...
Experience the thrill of sailing with the world's premier yacht charter company. We offer a variety of charter options in the world's best sailing grounds.
A yacht rental is usually a shorter-term rental on a smaller sized vessel. Whereas a yacht charter usually refers to larger yachts that can accommodate a number of guests and crewmembers. A yacht charter will come with more luxuries - a private captain, chef, stewardess and even more crew depending on the size of the yacht.
Y.CO managed motor yacht Legend in Antarctica. Y.CO specialize in luxury yacht sales, charter, management, new construction and refit. Founded in 2004 in Monaco and with offices in London and Fort ...
Shop new, used, motor, sailing, power & super yachts for sale and charter yachts. Large selection of brokerage boats for purchase worldwide.
Y.CO Co-founded by Gary Wright and Charlie Birkett in 2004, Y.CO was built on a foundation of specialist knowledge, first-hand onboard experience and a passion for yachts and exploring the ocean. Bringing a new dynamic, modern approach to yachting, Y.CO specialises in sales, purchase, charter, management, new construction and refit and is recognised as one of the leading yacht companies in the ...
Y.CO. @YCOyacht. ·. Nov 26, 2021. This beauty is heading to the Antigua Charter Yacht Show and will be gracing the islands of the Caribbean with her presence over the winter season. Hit the link to find out more about 55m (180.4') GALENE 👉 y.co/yacht/galene #livelifeinyellow #artofcharter #chartergalene. 1.
My latest influencer interview features Gary Wright, the co-founder and chairman of Y.CO (one of the world's leading superyacht management, sales and charter companies).
Planning a yacht charter is an exciting task, but it's also a challenge - especially when beginning to estimate cost. Yachts have a base price, which is the weekly rate to rent the boat. But in addition to base costs, what other expenses, like food/drink, local taxes, or fuel, are charterers required to pay?
Experts believe the yacht was battered by a tornado over the water, known as a waterspout. Local fisherman Giuseppe Cefalu told the PA news agency that he saw a "tornado" close to the scene, and ...
The Bayesian yacht was sunk by a sudden and powerful storm in the early hours of Monday morning. 11 hrs ago. Europe. 13 hrs ago. UK ambassador says survivors described 'distressing' situation.
Y.CO - The Yacht Company, Monte-Carlo, Monaco. 12,818 likes · 9 talking about this · 35 were here. Y.CO is a full-service yacht company.
Raised in Essex, he went on to study at the University of Cambridge, before co-founding software company Autonomy in 1996. The 59-year-old made his riches by selling the company to US tech giant ...
Mike Lynch's co-defendant dies after being hit by car days before yacht sinking. The two businessmen had faced charges of fraud and conspiracy but were acquitted by a US jury in June.
This yacht charter guide will answer FAQs and will guide you through the whole process of chartering a yacht. Discover how to charter a yacht with Y.CO here.
Six people, including British tech tycoon Mike Lynch remain missing after a luxury yacht sank off the coast Sicily. Chef Recaldo Thomas is reported to have died. ... > Co-defendant in fraud trial killed in separate tragedy. What happened to the Bayesian? The Bayesian is a 56m-long luxury yacht. (Danny Wheelz/YouTube)
Lynch, a tech entrepreneur, had recently been acquitted on federal fraud charges in the U.S. The yacht he was on, the Bayesian, sank two days after Lynch's co-defendant was killed by a car.
The sleek yacht, named the Bayesian, was carrying a crew of 10 people and 12 passengers when it suddenly sank near the Mediterranean island that is part of Italy at about 4 a.m. on Monday. One ...
Tech tycoon Mike Lynch among those missing after sinking of the Bayesian yacht. It was reportedly anchored off the coast of Sicily. A 'violent storm' is said to have caused the sinking of the ...
Tech tycoon, defense attorney, and Morgan Stanley banker among those missing in freak yacht sinking. A superyacht that sank off the Sicilian coast during a storm left six passengers missing ...
Either you have just purchased your first fractional boat ownership yacht or, you plan to invest in a yacht share network soon. Either way, there are several factors that you should consider when becoming a yacht co-owner. Here is a comprehensive list of the do's and don'ts of being a co-owner:
6 people, including 2 Americans, missing after yacht sinks off Italian coast 00:26. The outing was intended at least in part as a celebration of Lynch's acquittal and a "looking forward to what ...
A paper trail indicates that the ill-fated yacht is owned by Lynch's wife, Angela Bacares. ... He studied machine learning before it was fashionable, and co-founded a series of start-ups. One ...
Find out more about Y.CO yacht brokerage. Y.CO is an international yacht company whose dedicated team looks to improve every aspect of the yacht experience.
World's largest selection of brokerage boats for sale by professional yacht brokers with new, used, sailing, power and super yachts for sale.