British tech mogul Mike Lynch, 59, is among six people missing after a freak storm hit their superyacht, Bayesian, off the coast of Sicily. for Reuters.

BBC is reporting that Lynch's 18-year-old daughter is also missing. Lynch's wife and 14 other people survived.

The luxury yacht was carrying 22 passengers. Italian authorities confirmed that the incident occurred in the early hours of Monday, when a stream of water hit the area where the British-flagged ship, the Bayesian, was moored near Palermo.

^{A coast guard vessel and a private sailboat help search for missing passengers after a yacht capsized on August 19, 2024, off the coast of Palermo, Italy. Several people, including four Britons, two Americans and a Canadian national, are missing. Italy's coast guard and firefighters brought 15 people to safety, while rescue and recovery efforts continue. (Photo by Vincenzo Pepe/Getty Images)}

The 56-meter Bayesian costs approximately $215,000 per week to charter.

Rescue efforts are ongoing.

Lynch and his wife's joint estate has been reported about 649 million dollars.

This is a developing story.