Mike Lynch: Video shows search after yacht sinks with British tech tycoon believed to be among six missing

Sources have said that British technology tycoon Mike Lynch is among six people reported missing after a luxury yacht sank.

The 183ft superyacht, named Bayesian, reportedly capsized off the coast of Palermo in Sicily, Italy at around 5am local time following a storm overnight. A body has been recovered while 15 others were rescued, according to local media.

A one-year-old child was rescued by coast guards on patrol boats and firefighters along with 15 others earlier today. The baby, 1, was rushed to the nearby Children's Hospital of Palermo with its mother after they were found. Citizens from New Zealand, Sri Lanka, Ireland and France were also onboard alongside the British nationals, say Italian media.

The yacht is believed to have been flooded by water after a tornado struck it. The yacht was hit off the coast of Porticello, near Palermo, at around 5am on Monday morning.

The yacht is believed to be called Bayesian and sails under a British flag, according to a Facebook post. An expert team of divers have already been able to locate the hull, according to Italian media. It was discovered 160ft below the water around half a mile from the coast.

It comes just a week after a £1million yacht sank near Mallorca with five people including a child onboard. Terrifying footage showed an entire half of the vessel submerging down into the sea off Camp de Mar in Andratx, It prompted an urgent rescue mission with all five being rushed back to land safely.