Yachting Financial News

Specialist cave divers working in 12-minute underwater shifts are searching for six missing passengers and crew, including British tech tycoon Mike Lynch, believed to be in the submerged wreck of a luxury yacht that was slammed by a powerful storm and ...

Police divers have resumed searching for six people believed trapped in the hull of a superyacht that sank off Sicily

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

Tech tycoon Mike Lynch, one of six people missing from a sunken yacht off Sicily, had been trying to move past a Silicon Valley debacle that had tarnished his legacy as an icon of British ingenuity

Jonathan Bloomer, Chairman of Morgan Stanley International, is reported missing following the sinking of the superyacht Bayesian. Also missing are Mike Lynch, the yacht's owner, his 18-year-old daughter Hannah, and Chris Morvillo, a lawyer at Clifford Chance. Italian authorities confirm their disappearance, as reported by The Times. The Bayesian, a 56-meter superyacht, sank early Monday morning off the coast of Sicily. The vessel, which had been anchored near Porticello, was struck by a tornado. Initial assessments suggest that the yacht's large aluminum mast may have contributed to its instability and subsequent sinking, as per the reports of Yahoo news.

LONDON — British technology entrepreneur Mike Lynch was acquitted of fraud charges in June in a landmark trial over allegations made by Hewlett Packard that he had artificially inflated the value of his company when he sold it to the U.S. enterprise tech giant for $11.7 billion in 2011.

superyacht off Sicily on Tuesday to search for six people, including British tech magnate Mike Lynch, who are believed to be still trapped in the hull, 50 meters (164 feet) underwater. Divers were loading a rescue dinghy at the port of Porticello, near Palermo, after a first search Monday ended unsuccessfully. Fire rescue crews reported that divers were unable to access the below-deck cabins because they were blocked by debris that had shifted during the violent storm that toppled the luxury sailboat early Monday. Fifteen people survived, including a mother who reported holding her 1-year-old baby over the waves to save her. One body has been recovered, officials said.

Mike Lynch, the British tech magnate, and five other people were missing after their luxury superyacht sank during a freak storm off Sicily early Monday, Italy’s civil protection and authorities said. Lynch’s wife and 14 other people survived. Lynch was among six people who remain unaccounted for after their chartered sailboat sank off Porticello, near Palermo, sometime after 4 a.m. A tornado over the water known as a waterspout had struck the area overnight, said Salvo Cocina of Sicily’s civil protection agency. One body was recovered, and police divers spent the day trying to reach the hull of the ship, which was resting at a depth of 50 meters (163 feet) off Porticello where it had been anchored, rescue authorities said. They returned to the site after 10 p.m. to see if it would be possible to search through the night, when weather conditions were expected to worsen, said Luca Cari, spokesman of the fire rescue service.

A Florida insurance agent and his Georgia-based business built up a $300 million Ponzi scheme funded by more than 2,000 unwitting investors, the SEC said in charges filed this week.

Fractional ownership platform RealX has helped investors acquire over 3,500 square yards of commercial land in Ayodhya for Rs 10.4 crore. In a statement, RealX said it closed its Ayodhya commercial land parcel of 31,646 sq ft (3516.22 sq yards) at a value of Rs 10.40 crore. As many as 57 investors acquired commercial land. They invested between Rs 50,000 and Rs 25 lakhs to acquire proportionate ownership rights in the property. The deal signifies a step forward in making high-value real estate accessible to a broader audience through fractional ownership and property tokenisation, the statement said.

Supreme Court Justice Clarence Thomas has landed in a huge controversy with accusations of not disclosing at least 35 luxury gifts, a free yacht trip to Russia and a private helicopter journey to a palace in Vladimir Putin's hometown St. Petersburg. In a letter written to Attorney General Merrick Garland, Sens. Sheldon Whitehouse, D-R.I., and Ron Wyden, D-Or have also accused him of committing tax fraud and violating other federal laws by “secretly” accepting the gifts and income potentially worth millions of dollar, reports 'Daily Beast'. The senators have demanded to appoint a special counsel to probe Thomas.

Gavin Newsom’s yacht may be coming in after President Biden foundered last week in his debate with Donald Trump. Some Democrats are calling to replace the incumbent, and betting markets put Mr. Newsom as the favorite alternative.

Kim Kardashian, Jeff Bezos, and Lauren Sanchez are all having a sunny vacation in Greece. The pair was spotted apart on jet skis in the Aegean Sea on Wednesday. The founder of Amazon, Jeff Bezos, was decked up in swim trunks and a life vest, while his fiancée, Lauren Sanchez, had a little gold bikini on board her boat. The pair, who became engaged in May 2023, spent the day on the enormous yacht with Kardashian and her pals, as per the reports of 'Page Six'.

Bharat Agri Fert & Realty Ltd plans to develop a 7-star theme-based resort on the outskirts of Mumbai with an investment of about Rs 55 crore. It plans to launch an additional 170 rooms, along with a banquet hall and enhanced amenities by 2025-2026, thus offering the perfect venue for destination weddings on the banks of a river within the 120-acre freehold land, the company said in a statement.

yacht gliding across the ocean also being able to fly for a distance? This may have come true in some sci-fi fiction and movies. Now, this has become a reality, thanks to a London-based firm that is trying to make into a reality. It has been named a ‘flying pyramid’ due to its shape. The Tetra’s concept design would use hydrofoil to give it the impression that it is flying above the water. This is expected to scale up the sale for luxury living as yachts are popular in high-income groups across the UK. It is also expected to revolutionize the tourism industry, once it comes into commercial production and the business details are worked out. This has been reported by the Metro newspaper.

Rupert Murdoch, 93, tied the knot for the fifth time on Saturday, marrying Elena Zhukova, 67, at his vineyard estate in Bel Air, Los Angeles. The ceremony was held outdoors under clear skies, with Zhukova wearing a white off-the-shoulder dress designed by Emilia Wickstead, and Murdoch in a dark suit paired with sneakers. The event saw notable guests such as Robert K Kraft, owner of the New England Patriots, and Robert Thomson, CEO of News Corp.

A prosecutor told jurors at a fraud trial's start that a self-exiled wealthy Chinese businessman became an internet sensation and conned thousands of people worldwide out of $1 billion

Serbian model-actress Natasa Stankovic, as rumours of an impending divorce from ‘Mumbai Indians’ captain Hardik Pandya refuse to subside. Buzz of a potential rift between the lovebirds began when a post on the subreddit BollyBlindsGossip claimed that Stankovic had stopped sharing pictures of her husband on her Instagram handle and stopped the surname Pandya from her profile. Stankovic was also conspicuously absent from the IPL matches this year, adding fuel to the fire. The model who hails from Serbia, has had a rather colourful life. From participating in ‘Bigg Boss’ season 8 to dating Aly Goni, to marrying Pandya twice, here’s a timeline of how she came into limelight.

Hardik Pandya had proposed to his then girlfriend Natasa Stankovic on a yacht on January 20, 2020 and the duo welcomed their first child Agastya on July 30, 2020. They later renewed their vows at a ceremony in Udaipur on Valentine's Day last year.Some users were skeptical about the original Reddit post sharing the separation rumors and then the ensuing reports about Hardik Pandya losing 70% of his property in case of divorce.

A pod of orcas rammed another yacht sailing through the Strait of Gibraltar until it began taking on water and sank.

Vice President Teodorin “Teddy" Nguema Obiang was in a mood for payback. The Obiangs have run the oil-rich Central African country of Equatorial Guinea like a family ATM since 1979, accumulating mansions in Paris and Malibu, Ferraris and Bugattis, and at least three superyachts, according to court documents. And now a South African court was seizing Nguema Obiang’s two high-end Cape Town villas and the Blue Shadow, the yacht that carries his jet-ski collection while he vacations on one of the other two.