Michael Lynch’s profile picture

Michael Lynch

Michael Lynch’s profile picture
Net worth 2018: $1 Billion
Industry: Technology
Education: Doctorate, Cambridge University; Bachelor of Arts / Science, Cambridge University
BIOGRAPHY

Michael Lynch was born in United Kingdom. British tech entrepreneur Michael Lynch is still fighting off fraud allegations in the deal that made him a billionaire four years ago, when he sold his software firm Autonomy to Hewlett-Packard. A year after buying Autonomy, founded by Lynch in 1996 off technology he developed as a Cambridge student, HP claimed the company used accounting tricks to artificially inflate its value prior to the sale. "HP's allegations are false," says Lynch. So far he's escaped any prosecution. In January 2015, the U.K. Serious Fraud Office closed its inquiry into the deal after two years; the U.S. Department of Justice and SEC continue to investigate. Meanwhile, HP is trying to settle several shareholder class-action suits over the acquisition and has said it eventually plans to sue Lynch. It's been expensive for HP already: The company says the deal has cost it $8.8 billion. Away from the Autonomy debacle, Lynch remains on the advisory board of Blinkx, a video-search engine that spun off from Autonomy, one in which he retains a 5% stake, and runs Invoke Capital, a $1 billion UK-based venture capital firm that bets on European technology startups.

NET WORTH STATISTIC
2014

$1 Billion

2015

$1 Billion

2018

$1 Billion

TIMELINE
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