yacht luminosity owner

Billionaire oligarch who owns the Alfa Nero also allegedly owns a $270 million superyacht that lies abandoned in Montenegro – So advanced is the vessel that it has 310 miles of cables, a 36-tonne battery pack that lets it sail as quietly as a Tesla, massive satellite dishes and more.

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Russia superyacht symbolises challenge of seizing assets

A legal battle over who owns a luxury superyacht symbolises the difficulties of seizing Russian assets since the war in Ukraine started.

When BBC reporters investigated the case of the £54m Alfa Nero, it led them to a British firm whose lawful help allows a Russian oligarch to claim that such mega-assets do not really belong to him at all.

This week a court case resumes in Antigua. It was launched by the daughter of Russian billionaire Andrey Guryev to challenge the seizure of the Alfa Nero superyacht.

The island's government wants to sell the vessel and keep the proceeds. It even changed the law ahead of auctioning the yacht off last June.

It was eventually purchased by former Google CEO Eric Schmidt for £54m, but he has now withdrawn his bid amid a flurry of legal challenges, including the one from Mr Guryev's daughter.

She claims she is the sole adult beneficiary of the trust that owns the yacht, rather than her billionaire father.

Investigating that challenge led the BBC to uncover some £500m worth of assets connected to the sanctioned billionaire.

It also helped reveal how trust structures lawfully managed by a British firm over many years allow Mr Guryev to claim, by the time he was sanctioned, that the yachts and London properties we have identified do not belong to him at all.

The Kremlin connection

On a tour in Antigua's exclusive Falmouth Harbour, a port employee is open to talking about the Alfa Nero's many features, but when we ask who used to own it, his tone changes.

"I don't know," he says, as he looks down at the gleaming, teak deck.

Before the yacht was seized in April, the US government said it belonged to Mr Guryev, whom it called a "known close associate" of Vladimir Putin.

The US Treasury says Mr Guryev is part of a group of "Kremlin-connected elites" who "generate substantial revenue for the Russian regime".

Mr Guryev earned his wealth from PhosAgro, a fertiliser company he co-founded following the collapse of the Soviet Union.

By the time PhosAgro listed on the London Stock Exchange in 2011, Mr Guryev had bought Witanhurst Estate, a dilapidated Georgian mansion he transformed into one of London's most expensive properties, estimated to be worth £300m.

Companies House filings submitted in May 2023 show Witanhurst Estate, along with the Alfa Nero, is actually connected to the Guryev family through an address in Guernsey, a British crown dependency.

And they are not the only incredibly valuable assets linked to this same address in the Channel Islands.

The Luminosity is one of the world's biggest hybrid superyachts, measuring in at 353ft (107.5m). It has its own helipad plus a separate swimming pool and jacuzzi, along with dozens of staff.

Shortly after Russia's invasion of Ukraine began, the Luminosity left port in northern Italy, arriving in non-EU Montenegro on 10 March.

That was the day after Mr Guryev's son was sanctioned by the EU.

When a government inspector boarded, they discovered that this huge vessel was also linked to the same address in Guernsey.

'Not our client'

When you travel to that address, you find the unassuming offices of a wealth manager called Opus Private.

On its website, the firm said it helped "some of the world's wealthiest individuals manage and protect their assets".

Along with a number of other properties, including a £50m London penthouse, we established a total Guryev family portfolio worth over £500m, all linked to this one firm.

We have also seen documents showing the relationship has been going on for at least a decade.

Back in Antigua, that relationship with at least some members of the Guryev family continues.

Court documents we have seen show Opus Private was involved in a legal action that failed to stop the Alfa Nero initially being auctioned off.

It is important to note that it is legal to keep working for a sanctioned individual, with government permission, and Mr Guryev's daughter has not been sanctioned by the UK, EU or US.

The court documents detail how ownership of the superyacht is tied up in a trust, which a judge in Antigua suggested Mr Guryev still exercised a degree of control over.

We know there has been a change in the beneficiaries of the trust, but we cannot independently determine when it happened. If it was after sanctions were imposed, it would be unlawful; if it was before, it would not.

Both Mr Guryev's daughter and Opus told us it happened before her father was sanctioned.

Opus also insisted that Mr Guryev was not their client as he was no longer a beneficiary of the trust.

But the firm says it has made UK and Guernsey authorities aware of the trust assets it treats as frozen in line with UK sanctions against Mr Guryev. It says it treats these assets as frozen because, while Mr Guryev is not a beneficiary of the trust, he is deemed to have "control" over it under UK sanctions law.

A very different approach in Ukraine

These assets are being watched closely in Ukraine, where the cost of war damage is estimated at more than £300bn, and rising.

"We've been quite intensively confiscating assets belonging to Russian individuals," says Vlad Vlasiuk, a sanctions adviser to Ukraine's president Volodymyr Zelensky.

Not only has Ukraine sanctioned around 9,000 people and companies, it has gone further than most of its allies in moving from freezing to seizing assets. Among those sanctioned by Ukraine are Mr Guryev, his son, wife and daughter.

"We think that Mr Putin is weaponising the fertiliser [industry] and threatening the whole of the world in terms of global food security. We don't want that to happen," Mr Vlasiuk says.

Since the sanctions were imposed, Guryev Snr and Jnr have both resigned their positions at PhosAgro, but the family remains major shareholders.

The company - which operates globally - has made record sales since the invasion, and Guryev Jnr even met President Putin in April to discuss the fertiliser industry.

Mr Vlasyiuk would like to see the UK go further when it comes to frozen assets linked to Mr Guryev: "I think those assets should be confiscated and then transferred to Ukraine."

They include the Witanhurst Estate and a five-storey penthouse with views across the River Thames, estimated to be worth £50m.

"Those monies would be very much used to rebuild Ukraine and that would also send a strong message," he says.

The UK government's position is to hold on to frozen assets until Russia pays compensation for the war damage it has caused in Ukraine.

The two departments responsible for sanctions, the Treasury and the Foreign, Commonwealth and Development Office, did not respond to specific questions about the Guryev family's UK-based assets.

A spokesman for Mr Guryev said there was no "proper or legitimate basis" for the sanctions against him.

Opus Private told us: "Trusts are legal structures, and their use is lawful. Opus provides trust services to, and for the benefit of, the discretionary beneficiaries of the trust structure."

"It provides those trust services in compliance with all applicable laws," it said.

Additional reporting by Yordan Tsalov

What are the sanctions on Russia and are they working?

Inside the capture of a russian oligarch's superyacht, owners of firms behind uk properties stay hidden.

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This Epic Hybrid 352-Foot Gigayacht May Be the Greenest Vessel to Ever Hit the Water. Now It’s Up for Sale.

While owners typically wait five years for their custom builds, the benetti "luminosity" was listed just weeks before her scheduled delivery to her owner., howard walker, howard walker's most recent stories.

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Opportunities like this come along once in a blue moon. Here’s a chance to buy a new, 352-foot Benetti -built superyacht without the usual five-year wait. All you need is a quarter of a billion dollars.

Launched to huge fanfare at Benetti’s Livorno yard in Italy in February 2019, Luminosity is currently having the finishing touches made to her. She’ll be completed this summer. Luminosity is jointly listed with the brokerage firms Fraser and Burgess .

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“This is truly a rare opportunity for a buyer to acquire an essentially brand-new yacht, without the lengthy build time, and all the planning and engineering time,” says Stuart Larsen of Fraser Yachts . “Plus, Luminosity comes with a two-year factory warranty.”

One of the greenest gigayachts built to date, the 352-footer also has all the niceties one would expect, including this counter-flow swimming pool in the beach club.  Fraser Yachts

No word as to why the owner is selling, though Larsen says it’s not unusual for an owner to put a new yacht on the market so soon after launch.

Designed to be one of the “greenest” superyachts on the ocean, the big-windowed Benetti features advanced diesel-electric hybrid power. Its high-tech battery technology includes 35 tons of lithium polymer batteries that provide juice for up to 12 silent hours at anchor with zero emissions and no generator noise.

The yacht’s groundbreaking interior, with almost 9,000-square-feet of floor-to-ceiling windows on four levels, takes “going green” literally. A five-story glass stairwell creates a virtual forest where you can watch “e-flowers” open and close as they detect motion in the dining room.

Within the yacht’s 352-foot length and 56-foot beam is a staggering volume of 5,844GT. Built to the Passenger Yacht Code, she can accommodate 26 guests in 12 suites, including a huge dedicated owner’s deck with large terrace, floor-to-ceiling windows and an elevator that services every deck level.

The yacht has 35 tons of lithium-ion batteries that will power the house systems with zero emissions for 12 hours.  Fraser Yachts

“ Luminosity is all about innovation. In response to increased public awareness, Benetti has invested time and resources into green solutions. The engine room is just one impressive example of the yacht’s efficiency and state-of-the-art engineering,” says Larsen.

Six 1,334-hp Caterpillar C32 diesel generators drive two 2,200kW ABB Azipods giving a top speed of 16 knots. Throttle-back to the yacht’s 10-knot cruising speed and she’ll run for 8,000 nautical miles with extremely low levels of noise and vibration.

Built with a steel hull and aluminum superstructure, the exterior was designed by a consortium that included Azure Naval Architects, Reymond Langton Design, Zaniz Interiors and Giorgio Cassetta. The sleek, minimalistic interior is the work of London-based Zaniz Jakubowski, of Zaniz Interiors.

Many of the guest bedrooms have the same levels of luxuries and amenities as the master suites of other superyachts.  Fraser Yachts

One of the yacht’s multitude of jaw-dropping features includes a state-of-the-art health club with drop-down hull doors that open it to the sea on three sides. It features a steam room, gym, and cold plunge pool maintained at an invigorating 4degC.

Need to swim laps? In the beach club is a 323-sq-ft counter-flow pool that, at the touch of a button, can convert into a dance floor.

Other standout features include a conference room, hospital, moon lounge for star-gazing, cigar room, and a commercial-grade helipad for a Bell 429 or similar with its own refueling and foam fire-fighting station. And to launch the multitude of tenders, jet skis, rescue boats and nautical toys, there are no fewer than 12 cranes on board.

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By Conor Feasey 24 Oct 2023

Burgess granted licence to pay sanctioned crew

After a protracted process, the crew of luminosity and alfa nero will finally receive their pre-sanction salaries before the end of the year….

  Burgess has been granted a license by the UK government to pay the crew of Luminosity and Alfa Nero the salaries that were withheld due to sanctions. Having secured the licence from the Office of Financial Sanctions Implementation (OFSI), crew who were employed on board the yachts at the time sanctions were imposed will likely get their salaries before the year’s end.

“The crew have been incredibly patient. They are relieved this matter is now coming to an end,” Lucy Medd, Partner, Head of Crew Management, Burgess tells SuperyachtNews.

The license allows Burgess Crew Services (BCS) PCC Ltd 347 Alfa Nero and 437 Luminosity to pay all outstanding agreed salaries and notice as set out in the termination of employment letters issued to each crewmember in March 2022 at the time the sanctions were imposed.

“It also allows BCS to pass on the Alfa Nero gratuity to the crew that was agreed upon before sanctions were imposed,” adds Medd. Due to the nature of the sanctions, however, Burgess is unable to pay any salaries for any work or services that occurred past the date of the owner’s designation.

Whilst the immediate payoff for the crew may offer some relief, there is still more red tape ahead. A large proportion of the money held to pay the crew is in US dollars and authorities require any transaction using US dollars to have an Office of Foreign Asset Control (OFAC) license first.

Despite this, Burgess remains hopeful that both crews will be paid in full before the end of the year. “BCS is also applying for a license to release the money from the Policy & Resources Committee in Guernsey,” says Medd. “One crewmember asked if they would receive interest on the money owed, but I explained that it is illegal to provide interest in sanctioned money.”

Both Alfa Nero , the 82m Oceanco yacht and 108m  Benetti Luminosity allegedly belong to sanctioned Russian oligarch, Andrei Guryev. Alfa Nero has been at the centre of a heated ownership dispute in Antigua, whilst Luminosity has been quietly docked at Porto Montenegro for over a year.

The former head of PhosAgro, one of the world's largest producers of phosphate-based fertilizers, Guryev was sanctioned by the UK, EU and US shortly after the invasion of Ukraine and is worth around $9.10bn according to the Bloomberg Billionaire Index.

Despite the breakthrough, Medd does not believe the development to be emblematic of more governments allowing similar processes for crew on sanctioned yachts.

“Without the OFSI license we could not apply for the OFAC or P&R licenses,” she says. “The reason it has taken so long to obtain the license is because OFSI did know what category to put the application under.  We believe it has been processed under an independent heading. But this is our internal speculation.”

OFAC did not immediately respond for comment.

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LUMINOSITY Yacht – Luxurious $275M Superyacht

LUMINOSITY yacht is currently the 43rd largest yacht in the world at a total length of 107.6 m (353 ft).

She was built by Benetti in Italy at their Livorno shipyard and delivered to the owner.

LUMINOSITY has won several design awards, including the “Outstanding Lifestyle Feature” at the Design and Innovation Awards for her exceptional beach club.

LUMINOSITY yacht interior

The interior of the LUMINOSITY yacht was developed by the high-profile design house Zaniz Jakubowski Design. Onboard there are twelve cabins that have space for up to twenty-seven guests.

This includes one master, eight doubles, three twins, and an additional three Pullman berths. Thirty-seven crew members also find space onboard LUMINOSITY to cater to every need of her guests. The interior of this massive yacht is luxurious and furnished with unique and custom-made items.

The large glass staircase with an interactive video wall is one of the highlights in the central part of the vessel. The style is opulent yet tastefully minimalist, with clean lines and inviting layouts.

A large pool with glass sliders perfectly combines indoor and outdoor living, and the yacht’s innovative spa is one-of-a-kind.

LUMINOSITY has spacious entertaining areas that invite the owners to host elaborate celebrations and events on board.

Specifications

The LUMINOSITY yacht has a total length of 107.6 meters (353 ft), a beam of 17 meters (55.9 ft), and a draft of 4.55 meters (14.11 ft).

She weighs 5,844 tons and is powered by six hybrid diesel, electric Caterpillar engines.

Her range of 8,000 nautical miles is more than impressive, although her average cruising speed of 10 knots is relatively slow. She can, however, reach top speeds of 17 knots if needed.

The LUMINOSITY yacht has been described as a “glass palace”, which refers to her many windows allowing the yacht to feel open and bright.

The exterior of the yacht was designed by the Rome-based architect ​​Giorgio Cassetta who has worked on over 400 nautical projects in the past.

LUMINOSITY is an all-white yacht with a large aluminum superstructure and a steel hull. She features a helipad on the top deck and a spacious beach club on the aft with an extendable swimming platform.

The LUMINOSITY yacht owner reportedly bought LUMINOSITY for a total price of US $275 million, and she has been listed for sale for only US $225 million. The yacht incurs annual running costs of US $25 million.

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Delivered: 108m Benetti superyacht LUMINOSITY

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By Katia Damborsky   16 April 2020

The 107.6m/ 353ft motor yacht LUMINOSITY , formerly known as Project Zoza and Benetti FB272, has been delivered and the first pictures of the yacht's interiors are now available.

Following rigorous sea trials, LUMINOSITY has now been christened and delivered. It comes after she was launched under the Project name 'Zoza' last year. 

The motor yacht sports elegant interiors from Zaniz Jakubowski, while her exterior styling is the result of a collaboration between Zaniz Jakubowsk, Giorgio M. Cassetta and Andrew Langton.  

Both her exterior and interior design are characterized by vast portions of glazing which lend her a distinctive profile and drench her interiors in natural light, making her well-deserving of her name. 

LUMINOSITY has been designed to impress. She features an interactive video wall that wraps around the central staircase, and her vast beach club includes a pool and cold plunge, as well as fold-down sea terraces that create an ocean-level living space. 

When not in use, the pool floor can be raised to create a dancefloor. The beach club connects the swim platform to the wellness centre via a lounging area with a long bar, making a great backdrop for socialising and entertaining. 

The yacht features an interactive video wall that wraps around the central staircase, and a vast beach club with pool and cold plunge.

The yacht is PYC-certified, and offers accommodation for up to 26 guests in 12 suites, which includes an expansive Owner's deck with private facilities, sea terraces and a guest elevator.

She features a fully-certified helideck on the aft, as well as an additional touch n go on the foredeck.

The 5,844 GT megayacht ranks at number 42 in the World's Top 100 Superyachts.

Benetti's 'Gigayacht Season' began with the delivery of 108m/ 254f t motor yacht IJE in July last year.

It is not yet known whether M/Y LUMINOSITY will be a superyacht for charter .

You can view and compare all Benetti charter yachts .

Benetti superyachts for charter:

64m Benetti 2009 / 2015

64m Benetti 2006 / 2023

62m Benetti 2010 / 2020

65m Benetti 2011

63m Benetti 2015

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Description

One of the most significant yachts recently completed, she is a masterpiece of luxury and technology. Boasting a sleek design paired with cutting-edge hybrid propulsion. Offering unparalleled comfort, elegance, state-of-the-art amenities and sustainable innovations. LUMINOSITY set a new standard for modern super yachts .

Tender & Toys

1x Reliant X40T Limousine tender – 11.50m × 3.65m × 2.61m; 8,470kg 

1x Reliant X40 Express craft – 11.50m × 3.65m × 2.84m; 9,298kg 

1x Reliant X40L Lander craft – 11.50m × 3.87m × 2.89m; 11,000kg 

Two retractable hydraulic boat booms, are installed amidships on starboard side, near the boarding platform.

Characteristics

Builder: Benetti 

Staterooms: 12 

Guests: 27 

Crew: 37 

Length: 107.6m (353.00ft)

Beam: 17.0m (55.09ft) 

Draft: 4.55m (14.11ft) 

Class: Lloyd’s 

Flag: Red Ensign Group 

Construction Material Hull: Steel 

Construction Material Superstructure: Aluminum 

Construction Material Deck: Teak 

Hull shape: Displacement

Cruising Speed: 10 knots 

Max Speed: 16 knots 

Range at 10 knots: 8,000+ nm 

Gross Tonnage: 5,844 GT

Exterior designer: Zaniz Jakubowski /Reymond Langton Design /Giorgio M. Cassetta 

Interior designer: Zaniz Jakubowski Design 

Designer for all external décor: Azimut Benetti Spa, Benetti Shipyard and Zaniz Jakubowski Design

Accommodation

Owner & Guests:

1 Owner’s suite on Owners Deck 

11 staterooms on Lower Deck, Main Deck, Owners Deck and Bridge Deck including one 4 berths children stateroom and one Pullman berth in Owners Deck blue guest stateroom. 

1 x Captain’s cabin on Bridge Deck 

1 x Officer cabin on Bridge Deck 

10 x double crew cabins on Lower Deck 

1 x triple crew cabin on Lower Deck 

1 x quadruple crew cabin on Lower Deck 

8 x Officer cabins on Lower Deck

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Inside Benetti's 107m Giga Yacht Luminosity

By Jenna Mehdi

Launched under the codename of ‘Project Zoza’, Luminosity departed the Livorno shed in the midst of Benetti’s ‘Giga Season’ at the beginning of 2019. Representing the second in a series of launches which would prove to propel the Italian yard into new heights of Top 100 build, images and details of Luminosity have thus far been extremely thin on the ground. Now, a collection of unseen images of the ‘glass palace’ have been released, offering a tantalising taste of life onboard Luminosity.

For a Top 100 superyacht of her size, it will come as no surprise that Luminosity ’s ability to accommodate a large number of guests in ultimate luxury is almost unsurpassed. In compliance with the Passenger Yacht Code classification, Luminosity comfortably houses up to 27 guests in 12 spacious suites, as well as 37 crew members. The superyacht also features a certified helipad, health club and 30-meter-square swimming pool, suitably up to standard with vessels of her size and stature. 

Yet even the most seasoned of superyacht guests will be taken aback with the ethereal character instilled throughout Luminosity's interior design. The yacht’s interior designer, Zaniz Jakubowski Design, has taken every measure to ensure an otherworldly atmosphere reverberates throughout her six decks of decadence. 

Tributes to art and literature can be found everywhere; from Damien Hirst’s famous coloured circles on the French limestone floor of the Main Deck Lobby, to the beginnings of Melville’s Moby Dick engraved on the crafted pillars. In the main lounge area, 264 white magnolia flowers sculpted in Corian resin on the aft wall greet guests by opening and closing as they pass by. The main lobby stairwell is a virtual forest, vibrant and moody, realised by a visual panel stretching 370 square meters along the height of the stairwell. 

Life onboard Luminosity is no ordinary experience, and the yacht’s designer has made no pretence of this. The result is an immersion into a floating fairytale, an onboard character and charm quite unlike any other, bolstered by the galvanising power, technology and innovation typical of any Benetti new build. 

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Imposing 108m Benetti mega yacht LUMINOSITY renamed from ZOZA

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Written by Eva Belanyiova

One of the largest and newest superyachts cruising our waters, the 107.8m (353ft) megayacht LUMINOSITY , previously named ZOZA, bares her new name with great pride and which also reflects perfectly her beautiful exterior looks and the extensive use of glass throughout. Built by Benetti shipyard in Italy and launched in 2020, LUMINOSITY is a masterpiece of a great collaboration between a team of expert designers and an established and respected shipyard. Her Naval architecture was created by Benetti SpA, while her exteriors are a joint work of Reymond Langton Design , Azure Yacht Design & Naval Architecture , Zanis Interiors and Giorgio M. Cassetta . Her bespoke interiors were created based on a design by Zanis Interiors.

108m Benetti yacht LUMINOSITY

The grand interior areas offer huge full-height windows reaching up to 3 metres in height. Twelve luxurious staterooms provide overnight stay and a private retreat for up to 27 guests onboard. The owner’s deck boasts a beautiful owner suite with a private ensuite bathroom. On the same deck, there is an additional Pullman berth in the blue guest stateroom. The further guest accommodation has been placed on the lower deck, while the wheelhouse deck is home to another stateroom with four berths, used either for children of as a staff cabin. The carefully-selected and highly-professional crew of 37 members are accommodated in the crew quarters. An elevator contacts the decks for easy and comfortable access.

Aerial view of LUMINOSITY following her launch at Benetti

One of LUMINOSITY ’s many highlights is the huge beach club that includes a counter-flow swimming pool and a cold plunge pool. Other amenities and facilities onboard include a gymnasium, a Hamman, hospital or a conference room, in addition to a number of saloons, dining areas (indoor and alfresco) and entertainment/relaxation and sunbathing areas. The spacious sun deck has been fitted with a Jacuzzi hot pool.

Benetti superyacht LUMINOSITY 108m

The owner and guests can reach the yacht by helicopter as well, thanks to her helicopter landing area. Further equipment includes 12 cranes, jet skis, a number of tenders and a great selection of water toys. She is powered by sic Caterpillar C32 994kW engines reaching a top speed of 16.5 knots.

MORE INFO & PHOTOS OF 108M LUMINOSITY SUPERYACHT 

Please contact CharterWorld - the luxury yacht charter specialist - for more on superyacht news item "Imposing 108m Benetti mega yacht LUMINOSITY renamed from ZOZA".

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Tech billionaire's sunken superyacht claimed to be 'unsinkable' by CEO after capsizing in storm, six bodies found

Giovanni Costantino, CEO of the company that built the superyacht which sunk off the coast of Sicily on Monday, said he was in "disbelief" upon learning of the vessel's tragic fate, revealing the yacht was meant to be "unsinkable". 

Tech billionaire Mike Lynch's sunken yacht has been touted as "unsinkable" by the CEO of the company that built it, with six bodies recovered since the vessel went down off the coast of Sicily in Italy.

The vessel, with 22 tourists and crew aboard, was caught in a ferocious storm in the early hours of Monday (local time) while anchored at the popular holiday destination.

It is understood those on board were asleep at the time, many in their cabins on the lower decks. 

Emergency services raced to the scene, rescuing 15 people, including a one-year-old baby and her mother.

CCTV footage shows the final moments before Mike Lynch’s superyacht capsized off the coast of Sicily. #Bayesian #MikeLynch pic.twitter.com/XqwohFubsO — Daily Mail Online (@MailOnline) August 21, 2024

Giovanni Costantino, CEO of The Italian Sea Group, the company that built the Bayesian yacht, told Sky News UK the vessel's structure and drift keel made them "unsinkable bodies".

"Being the manufacturer of Perini (boats), I know very well how the boats have always been designed and built," he said.

"And as Perini is a sailing ship, sailing ships, it is well known, are the safest in the most absolute sense." 

The body of Canadian-Antiguan chef, Recaldo Thomas, was located in the water near the shipwreck shortly after the incident.

Italian authorities have since recovered five more bodies since the $27 million superyacht sank including tech billionaire Mike Lynch,  Morgan Stanley International chair, Jonathan Bloomer, his wife Judy Bloomer, lawyer Christopher Morvillo and his wife Neda Morvillo. 

Mr Lynch's 18-year-old daughter, Hannah, is still unaccounted for, with divers continuing their search efforts. 

Mr Costantino said learning the yacht had sunk "put (him) in a state of sadness on one side and of disbelief on the other".

"This incident sounds like an unbelievable story, both technically and as a fact," he said.

Mr Costantino also told local television he blamed “human error” for the yacht’s sinking.

“It drives me insane,” he said.

“Following all the proper procedures, that boat is unsinkable.”

CCTV footage from a nearby villa emerged soon after the disaster, revealing the 56-metre luxury vessel, had sunk in less than a minute as a wild storm smashed the boat.

The 50-second clip showed the intense weather lashing the lit-up superyacht anchored some 200 metres from the shore before it disappeared and sank into the water.

“In just sixty seconds you can see the ship disappear," the owner of the villa told Italian news agency ANSA about the video.

“Of about twenty cameras installed in the house, only one was not disturbed by the wind and rain. You can clearly see what is happening. There was nothing that could be done for the boat. It disappeared in a very short time.”

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Weeks Before Mike Lynch Died in Yacht Sinking, He Spoke About Making the Most of 'Second Life'

Lynch was looking forward to "making up for lost time" with his family, a reporter who spoke to the businessman about his acquittal tells PEOPLE

Simon Dawson/Bloomberg via Getty

British tech entrepreneur Mike Lynch spoke about having a new lease on life and how he was looking forward to spending time with his family in the weeks before his death, according to a journalist who spoke with Lynch about his life after being acquitted of fraud.

On Thursday, Aug. 22, an Italian government official said Lynch's body had been retrieved  from the luxury yacht that sank off the coast of Sicily  days earlier, while his family and friends were celebrating his legal victory.

PEOPLE previously reported that  five bodies had been found  in the days after the  Bayesian  went into the water.

Although the Italian coast guard has not formally identified the bodies that have been recovered, an official with the Italian interior ministry,  confirmed to Reuters  that Lynch was one of the victim's found while his  daughter Hannah remained missing .

The father-daughter pair had been among six passengers missing in the aftermath of the sinking, while Lynch's wife, Angela Bacares, was one of 15 people who were rescued.

The remaining victims reported as missing were Christopher Morvillo , a New York City attorney, his wife, jewelry designer Neda Morvillo; as well as Chairman of Morgan Stanley International Jonathan Bloomer, and his wife, Judy .

The body of victim, identified as chef Recaldo Thomas , was recovered shortly after the yacht went down.

In the weeks before the ill-fated trip, Lynch's life changed after being acquitted of multiple fraud and conspiracy charges following a lengthy legal battle.

Speaking with The Sunday Times in an interview that was published on July 27, the father of two said that when the verdict came in, it felt like he had been given a "second life."

But, he added, "The question is, what do you want to do with it?”

Chris Ratcliffe/Bloomberg via Getty

In 2018, federal prosecutors in California indicted Lynch on several counts of securities fraud and conspiracy, per the  Associated Press  and the  BBC . The indictment related to the 2011 sale of Autonomy, a business software company he founded, for $11 billion to Hewlett Packard, per the AP.

At the time, the sale made him one of the richest people in the U.K., according to CBS News .

Lynch, who faced spending up to 25 years in U.S. prison, spent years fighting extradition, according to the BBC. Last May, he was finally extradited from Britain and then spent 13 months under house arrest while waiting for the trial to begin, per The Sunday Times .

“If this had gone the wrong way, it would have been the end of life as I have known it in any sense," Lynch told the outlet , noting at another point that he also had "various medical things that would have made it difficult to survive."

The trial began in 2024 and in June, he was acquitted on all 15 counts.

As he wondered what he would do with his freedom, he even told the newspaper he was interested in creating a British equivalent to the American nonprofit the Innocence Project .

Graham Barclay/Bloomberg via Getty

Speaking with PEOPLE before Lynch's body was recovered, Danny Fortson — who interviewed Lynch for the  The Sunday Times  — said that he felt the businessman was "excited and very thankful," but also still "struggling to accept" his new reality after such a sudden change.

He was also looking forward to "making up for lost time" with his family.

"This case, especially as it got closer to trial, became all-encompassing and so he missed out on a lot of stuff with his daughters," the journalist added.

Never miss a story — sign up for  PEOPLE's free daily newsletter  to stay up-to-date on the best of what PEOPLE has to offer​​, from celebrity news to compelling human interest stories.

According to The Sunday Times , Hannah was set to study poetry at Oxford while her older sister, 21, was studying physics at Imperial College, just like her father.

Hannah's disappearance left her former school Latymer Upper School in London "incredibly shocked."

In a statement obtained by PEOPLE before her body was found, a spokesperson said, "our thoughts are with their family and everyone involved as we await further updates."

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Inside the luxury £30m yacht that sank in Italy with billionaire Mike Lynch on board

The bayesian yacht that sank off the coast of sicily on monday was once one of the most luxurious vessels in the world.

Joshua Nair

The luxurious yacht that sank off the coast of Sicily on Monday was once a multi-award winner for its sharp interior design.

In the early hours of Monday (19 August) morning, the sailing ship known as the Bayesian capsized and sank when a storm hit the coast of Sicily.

At the time, it was carrying 12 passengers along with 10 crew members.

It has been confirmed this morning that five of the six missing bodies have been recovered, including that of British billionaire Mike Lynch, 69 .

Chef Recaldo Thomas has also been confirmed dead, as only 15 of the 22 passengers made it onto a lifeboat before being discovered by a fellow ship.

The 184 feet (56 metre) superyacht was sold to Dutch real estate developer John Groenewoud for almost $40 million (£30.4 million), before being bought by Lynch's wife, Angela Bescares, who survived on Monday, for around £27 million in 2014.

Previously called Salute, the vessel was British -flagged and boasted the tallest aluminium mast in the world when it was built in 2008, which stood at 72 metres, winning it the award of 'best exterior styling' at the 2009 World Superyacht Awards, according to The Telegraph.

The stunning interior included a number of sleek, luxurious furnishings created by Remi Tessier, a yacht design specialist.

This also earned the vessel a number of awards, having received acclaim through its masterfully designed master bedroom, three double and two twin bedrooms, which accommodated 12 guests.

The superyacht had dark wood furnishings that were complimented by beige sofas and a deck that featured a large canvas to keep guests cool while at sea in the summer.

There were more intricate details onboard too, with thin brown pillars and intricate terracotta sculptures adding some Japanese culture to the ship's styling.

The Bayesian went on to win best interior at the International Superyacht Society Awards in 2008, while also being voted as one of the best large sailing yachts at the 2009 World Superyacht Awards.

Currently owned by Revtom, a company that lists Bacares as its legal owner, the yacht's name comes from a statistical model called 'Bayesian', which helps financial investors calculate risk.

This was Lynch's Ph.D. subject, which would help him to build his multi-billion pound empire in the future.

Operated by Camper & Nicholsons, the superyacht had twin 965 break horsepower engines, which has a range of 3,600 nautical miles at around 14-17 mph.

Following the tragic accident involving those onboard the Bayesian on Monday, a number of people linked to those who have gone missing have offered words of hope and support in the search for their bodies.

A friend of Lynch, Brent Hoberman, told Sky News they were 'all hoping for a miracle'.

"We knew it was unlikely but you still hold out hope," he said. "It's just so unbelievably tragic for him to go through what he went through over the last 12 years, defending his name and not really living a full life, to now for his death to be confirmed is obviously incredibly sad."

Topics:  Travel , UK News , World News , Bayesian yacht

Joshua Nair is a journalist at LADbible. Born in Malaysia and raised in Dubai, he has always been interested in writing about a range of subjects, from sports to trending pop culture news. After graduating from Oxford Brookes University with a BA in Media, Journalism and Publishing, he got a job freelance writing for SPORTbible while working in marketing before landing a full-time role at LADbible. Unfortunately, he's unhealthily obsessed with Manchester United, which takes its toll on his mental and physical health. Daily.

@ joshnair10

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Mike Lynch death: Tributes flow for Autonomy cofounder and ‘creator of dreams’

It has now been confirmed that Mike Lynch, one of the most prominent and controversial figures in the U.K. tech scene, died in the sinking of his superyacht off Sicily on Monday. At least five others also died when the vessel capsized in a violent storm; Lynch’s teenage daughter Hannah remains missing.

I encourage you to read my colleague Ryan Hogg’s obituary of Lynch , who I was writing about just a couple weeks ago in the context of his legal travails. Following a lengthy extradition drama, Lynch, 59, was acquitted in June of criminal fraud charges relating to the sale of his data software firm Autonomy to Hewlett-Packard in 2011. Indeed, his fateful trip with family, friends and lawyers was reportedly a celebration of that victory.

Morgan Stanley International chair Jonathan Bloomer, who had chaired Autonomy’s audit committee during the HP sale, and who testified in Lynch’s defense, also died in the sinking of the Bayesian. In a grotesque coincidence, Lynch’s also-acquitted codefendant in the U.S. trial, former Autonomy finance VP Stephen Chamberlain, was fatally struck by a car while jogging in England on Saturday.

Although he was acquitted in the U.S., a U.K. civil case over Autonomy’s misrepresentation of its financials to HP resulted in a ruling that Lynch had known what was going on. As a result, Hewlett Packard Enterprise (which has been handling the case since it was spun out of HP in 2015) had been hoping to recoup billions of dollars from Lynch and former Autonomy CFO Sushovan Hussain, who received a five-year sentence in the U.S. over the affair.

“We’re saddened by this tragic event and our thoughts are with the families and friends of all those who lost their lives,” said an HPE spokesman, while declining to comment on the future of the legal proceedings.

Friends say Lynch had been at the “beginning of a new life” following his U.S. acquittal, and many tributes followed the confirmation of his passing.

“The world has lost a genius. His family have lost a giant of a man,” said Autonomy cofounder David Tabizel.

“Mike Lynch should be remembered as the person who catalyzed a breed of deep tech entrepreneurs in the U.K.,” said John Browne, the former BP CEO and the chair of the Francis Crick Institute, a biomedical research center for which Lynch once helped to raise funds. “His ideas and his personal vision were a powerful contribution to science and technology in both Britain and globally. I send my condolences to those close to him. We have lost a human being of great ability.”

David Yelland, the former editor of The Sun and Lynch’s public relations advisor, said Lynch was “failed in life by his country and his peers when he needed them most—as he looked for help in the unjust U.S. demand that he be extradited—and he has then suffered the most unfair and brutal of fates.”

“I was in touch with Mike just before he sailed,” Yelland wrote on X . “He wasn’t a mere dreamer of dreams, he was a creator of dreams not just for himself but for all those that knew him, worked with him or invested with him.”

Lynch was a fellow of the Royal Academy of Engineering, the board of which said it was “deeply saddened” to hear of his death. A spokesperson from industry body TechUK told the Evening Standard that Lynch had been “a hugely significant and pioneering figure in the U.K. technology sector.”

More news below. And do read my colleague Eleanor Pringle’s piece on X’s true owners , whose identities have just been revealed in the context of a lawsuit by former employees. Bill Ackman is no surprise, but the same can’t be said for Diddy.

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Here's a look at the people who are dead or missing in freak superyacht sinking

• By KELVIN CHAN AP Business Writer
• Aug 21, 2024
• ASSOCIATED PRESS, VALIDATED UGC

Divers scouring the wreck of a superyacht that sank off Sicily found four bodies Wednesday, as the search continued for two more missing passengers and questions intensified about why the vessel sank so quickly.

LONDON — A superyacht that sank Monday off the Sicilian coast during a storm left at least six people dead and one passenger missing. Among that list is 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.

Emergency services at the scene of the search for a missing boat, in Porticello Santa Flavia, Italy, Monday, Aug. 19, 2024. British tech giant Mike Lynch, his lawyer and four other people are among those missing after their luxury superyacht sank during a freak storm off Sicily, Italy’s civil protection and authorities said. Lynch’s wife and 14 other people survived. (Alberto Lo Bianco /LaPresse via AP)

Here's a look at the people who are dead or 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.

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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.

FILE - British tech magnate Mike Lynch walks into federal court in San Francisco, March 26, 2024, (AP Photo/Michael Liedtke, File)

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.

An Italian Firefighters helicopter flies over houses near the harbor of Porticello, southern Italy, Tuesday, Aug. 20, 2024, as rescue teams and divers returned to the site of a storm-sunken superyacht 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. (AP Photo/Salvatore Cavalli)

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.

What is known about the sinking of a luxury yacht off the coast of Sicily and those aboard

• By ANDREA ROSA and MIKE CORDER - Associated Press

Christopher Morvillo

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.

Italian firefighters scuba divers are docked at the harbor of Porticello, southern Italy, Tuesday, Aug. 20, 2024, as rescue teams returned to the site of a storm-sunken superyacht 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. (AP Photo/Salvatore Cavalli)

Jonathan Bloomer

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."

A life boat is docked at the harbor of Porticello, southern Italy, Tuesday, Aug. 20, 2024. Rescue teams and divers returned to the site of a storm-sunken superyacht 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. (AP Photo/Salvatore Cavalli)

Deep seas and tight spaces impede search for 6 missing after yacht sinks off Sicily

• By SILVIA STELLACCI, ANDREA ROSA and NICOLE WINFIELD - Associated Press

Stephen Chamberlain

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.

Scuba divers of the Italian Firefighters corp at the scene of the search for a missing boat, in Porticello, southern Italy, Tuesday, Aug. 20, 2024. Rescue teams and divers returned to the site of a storm-sunken superyacht 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. (AP Photo/Salvatore Cavalli)

Recaldo Thomas

The chef with Antiguan roots was the first confirmed death from the accident. Cooking for Lynch was supposed to be one of his last jobs before retiring, his cousin, David Isaac, told The Associated Press.

Thomas was born in Canada but he would visit his parents' homeland of Antigua as a child, moving permanently to the tiny eastern Caribbean island in his early 20s.

"He was a free spirit," Isaac recalled. "Nothing rattled him. I've never seen him upset."

Emergency services at the scene of the search for a missing boat, in Porticello, southern Italy, Tuesday, Aug. 20, 2024. Rescue teams and divers returned to the site of a storm-sunken superyacht 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. (AP Photo/Salvatore Cavalli)

Upon moving to Antigua, Thomas, best known as "Rick," started working as a bartender in Jolly Harbor so he could be close to the sea, his second love after cooking, Isaac said.

Thomas also picked up jobs on small boats and eventually went to culinary school and started working on bigger ships.

Isaac recalled how Thomas would be gone for several months at a time and then unexpectedly show up in Antigua between jobs.

"This particular incident was hard," Isaac said. "He was just ready to tie up the end of his journey in his career."

Isaac recalled Thomas' "big, infectious" laugh and said he found some solace in that "Rick did exactly what he was meant to do and what he loved doing."

AP writers Eric Tucker in Washington and Anika Kentish in St. John's, Antigua, contributed to this report.

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