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D'Natalin IV: The 49 metre American Beauty

Dennis and Judy Jones are not new to yachting. The American couple first chartered yachts 20 years ago, and since 2000 they’ve owned three yachts – each named  D’Natalin  and numbered in order. So, in 2012, when they were ready for  D’Natalin IV , they knew what would make them happy, yet couldn’t find an existing yacht that met their criteria.

An experienced broker made a compelling case for something not yet considered: the best way to get everything they wanted was to build. Although the family had chartered and owned yachts from European shipyards, when considering a construction project that would be a family legacy, Dennis Jones – once and always a US Marine – conveyed his patriotism by insisting they give priority to a US yard.

Searching for an American yard to build D'Natalin IV

They tasked the family’s broker, Christian Bakewell of Merle Woods & Associates, with finding an American yard that could build a yacht meeting all their criteria and deliver in a limited time frame. It seemed impossible, but Christian Bakewell says: “Our office had the inside track on a hull under construction at Christensen , so the choice became easier when we were able to get Christensen to commit to a very aggressive one-and-a-half-year delivery.” The laid hull was part of Christensen’s 49 metre 160 Custom Series. These builds begin with a set engineering package and a fixed price, but layout, décor and exterior styling are all open for customisation.

The Joneses were still wary of a new build project, even with such lofty promises as expeditious delivery and fixed pricing. But they didn't need to be wary: D'Natalin IV was launched in April 2014 .

“A lot of our early meetings centred on getting the Joneses comfortable with the idea,” says Christian Bakewell. “They had heard horror stories of poorly negotiated and managed new builds that ran way over budget, so were cautious.” That Christian Bakewell’s previous two builds had finished under budget and on schedule went a long way toward making the Joneses at ease. But it was not just logistics that drew the family to Christensen. They liked the traditional lines of Christensen yachts, and many of the Jones’s must-have features were already incorporated into the basic design.

“The owners love multiple areas to entertain family and friends, but also needed a six-cabin layout to accommodate their expanding family,” says Christian Bakewell. “I walked them through a newer Christensen and they were stunned how big she felt for her length. Her generous outdoor areas really appealed to them. When I told them this yacht was under 500GRT, which would mean lower operational costs, they were pretty much sold on Christensen building their yacht.”

A partnership between owner and yard

With an ambitious itinerary for delivery, Christian Bakewell flew to New York City to get the  D’Natalin IV  project started. “Working out the details of the general arrangement was a fun exercise for us,” says Christian Bakewell. “We sat on the back of their yacht and marked up full-size prints of the plans; I would take a picture of these plans and email it to Christensen.

"Within the hour, Christensen sent me an electronic copy of the CAD drawings, which I would have made into full-size prints. This allowed us to go through more than 10 versions in two days using the full-size paper prints, rather than doing it on a computer screen – a much less tactile process. And all this was done with the New York skyline as a backdrop.”

D'Natalin IV : A comfortable gentleman's yacht

For  D’Natalin IV 's interior, the Joneses worked with yacht designer Carol Williamson of Carol Williamson + Associates. “This was our first time working together, and it was an amazing experience,” Carol Williamson says. “[The owners] requested a transitional interior with a strong traditional influence.” The result is an interior her captain Gregory Clark describes as “a comfortable, gentleman’s yacht”. Though the owners hail from the Midwest, the colour palette for  D’Natalin IV  is reminiscent of the yacht’s Pacific Northwest origins.

The deep nautical blues, and smoky, mafic interior tones with creamy accents look perfectly at home when I meet up with  D’Natalin IV  during one of her maiden voyages in Juneau, Alaska. Secured at a face-dock on the Gastineau Channel, with the snow-capped Mt Roberts looming as a backdrop,  D’Natalin IV , with her traditional US lines, red bootstripe, white superstructure and navy blue hull, is nothing less than an American beauty.

A superyacht with a show deck, friends and family deck, party deck and recovery deck

Although they are well versed in the pedantic nomenclature for a yacht’s strata (main deck, lower deck...), the Joneses have their own names for  D’Natalin IV ’s decks. One boards her at the “show deck”, for example. A massive aft deck that can be completely enclosed with acrylic glass panels opens to an elegant main saloon and formal dining area.

Amidships are an elegant foyer, a nicely sized dayhead and an enclosed galley, which was designed in part by their son-in-law, who is the chef of the family. Forward of that is an exquisite full-beam master with an owner’s office and full-beam master bathroom with heated floors.

As a family yacht, the Joneses prefer to use the upper decks of  D’Natalin IV ; their favourite hobbies influenced the layout of these spaces. The upper saloon and boat deck – known as the “friends and family deck” – is Judy’s favourite level.

The upper saloon is appointed with a seating area, wet bar and a generous gaming table for games of cards, while a sizeable covered deck has space for another favourite pastime, stitching. In fact, while  D’Natalin IV  was being built, Judy Jones hosted friends and family for stitching parties where the ladies worked on designs for accent pillows. Finished projects were ultimately incorporated into  D’Natalin IV ’s décor.

The sun deck is known as the “party deck”, and is Dennis Jones’s favourite. “It is just a perfect place to take in the view and relax,” he says. A large wet bar and ample seating are situated aft of an equally massive spa pool.

“This is one of the spaces where we really put Christian and Christensen to task,” says Dennis. “We wanted control of airflow on this boat, so we did not have drinks and plates blowing over under way or in the wind. The removable glass panels look great and have been an effective solution.” And when one is finished on the party deck, just go below to the “recovery deck”. The lower deck has five additional cabins: two twins, two king cabins and a third VIP, which is essentially a second master in terms of size and finish.

Whimsical traditionalism

Throughout  D’Natalin IV , the owners’ whimsical traditionalism is evident. Colourful art by LeRoy Neiman are a nod to their Midwestern roots. Other works of art are souvenirs of their travels, each with a story to tell. The ship’s dog, Manfred, is a colorful metal sculpture that sits at the entrance to the main saloon reminding all who enter not to take themselves too seriously once they step aboard.

“This boat, from the beginning, was meant to be a family boat, and you really could not hope to find a nicer family,” says Clark. This is a sentiment echoed by everyone involved in making  D’Natalin IV  a reality. Christian Bakewell says: “Because they are such a gracious and genuinely kind, appreciative family, everyone involved was inspired to work that much harder for them.”

D’Natalin IV  is a collaboration of passion, professionalism, workmanship and ingenuity. Though designed to take her owners around the world, her essence is that of a timeless American beauty, and she is heartwarmingly symbolic of one family’s attainment of and belief in the American dream.

Superyacht D'Natalin IV specifications

Draught : 3m

Displacement : 390 tonnes

Gross tonnage : 499GT

Engines : 2 x 1,650hp Caterpillar 3512C

Speed (max/cruise) : 17/15 knots

Range : 4,000nm @ 10 knots

Owner and guests : 12

Tenders : 1 x 7.5m Novurania 750 LX; 1 x 4.6 Novurania 460 DL; 1 x 3.2m RIB

Construction : Composite

Classification : ABS Commercial Yachting Services

Naval architecture and exterior styling : Christensen Shipyards

Interior design : Carol Williamson + Associates

Builder/year : Christensen Shipyards/2014

Photography by Neil Rabinowitz and Cavan Hadley

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Wealth Matters

Seeing a Supersize Yacht as a Job Engine, Not a Self-Indulgence

By Paul Sullivan

• July 25, 2014

DENNIS M. JONES was struck by an intriguing coincidence when he took delivery of his custom-built 164-foot superyacht: The $34 million he paid for it was equal to the $34 million he had donated to charity since 2000. The contributions helped the neediest around St. Louis get an education, get healthy or get a fresh start.

But the money spent on the yacht helped save the shipbuilder and the jobs of the hundreds of people it employed.

Could the purchase of a such a yacht be more than an act of self-indulgence? Could it provide something as significant, Mr. Jones wondered, as the financial aid he has given to children, homeless people, drug addicts and groups that promote education and entrepreneurship?

Mr. Jones, who made his fortune when he sold Jones Pharma, a niche drug company, to King Pharmaceuticals for $3.4 billion in 2000, is under no illusions that a superyacht is an essential item, even for someone in the 0.1 percent.

“It’s a very expensive enterprise,” he said. “It’s the ultimate for people who want the ultimate.”

Yet the yacht he purchased helped save Christensen Yachts, a 30-year-old American yacht builder, whose work force shrank to 75, from 500, after the financial collapse. Beyond improving the leisure time of one very successful man, the yacht Mr. Jones ordered added jobs for people being paid craftsmen wages.

“The company is up and running better because of us,” Mr. Jones said. Today, Christensen has a three-year waiting period for one of its yachts.

When I heard about Mr. Jones’s story, and his willingness to tell it, I was intrigued. Was he just a wealthy man trying to justify spending tens of millions of dollars on a new yacht?

Or was he subtly challenging the billionaires who make a show of signing the Warren Buffett-Bill Gates pledge to give away most of their money to philanthropies during their lifetimes — those who seem almost embarrassed by the lifestyles funded by their enormous fortunes? Wealth is not something to be embarrassed by, Mr. Jones contends; in his view, people should be encouraged to seek it.

Mr. Jones is unabashed about his lifestyle. It is one that could fairly be called lavish. He and his wife, Judy, live in a 31,000-square-foot mansion outside St. Louis. (According to property records, they pay more in property taxes than all but one person in St. Louis.) When they want to cruise on their new yacht, D’Natalin IV, which will spend winters in the Caribbean and summers in Europe, they fly to it, and anywhere else they want to go, on a private jet.

“I retired at 62 after hitting an unbelievable home run, and now we have the great home, the great yacht and the method of getting there,” Mr. Jones, 75, said. “Wherever we go, we have the same level of service.”

Despite this luxury lifestyle, the charities he supports are not the most glamorous ones. He gives to St. Patrick Center , which provides help for homeless people in St. Louis, and Connections to Success , which helps low-income people find jobs and become self-sufficient. Another favorite organization is Junior Achievement because it teaches children about free enterprise.

On Thursday he donated $500,000 to Ranken Technical College to pay for a program that teaches ex-convicts in St. Louis a trade and helps get them a job.

“The one theme throughout is education,” Mr. Jones said of his charitable giving. “I only have a high school degree. It didn’t matter back then, but we have a different society today.”

Mr. Jones said he wanted to encourage other wealthy people to think about how their opulent lifestyles could provide jobs just as their charity helps people in need.

Which is where the 164-foot yacht comes in. After 15 years with a 151-foot Delta, which had room for 12 guests and 10 crew members, the Joneses wanted their own superyacht built from scratch. They chose Christensen Yachts, in Vancouver, Wash., because of its reputation for quality.

What Mr. Jones didn’t realize in early 2013 was how much Christensen Yachts was struggling from the recession. “There were only two other yachts plus ours being built,” he said.

Mr. Jones, who had employed 650 people at Jones Pharma and gave stock options to employees at all levels, liked the idea of his money providing jobs and maybe saving an American company.

Joe F. Foggia, chief executive of Christensen Yachts, does not dispute Mr. Jones’s recollection. His yacht order was a catalyst for others. “We had finished some boats, but the last one we delivered was in the latter part of 2010,” he said.

His business was so slow in 2013 that the company had reorganized itself and branched out into industries like manufacturing wind turbines and making smaller yachts that other companies would sell under their brand.

“Before 2008, no one took any interest in what we were doing,” he said of the residents of the city, which is just across the Columbia River from Portland, Ore. “When we started laying people off, we were viewed as the rich man’s toy box.”

That changed when the economic impact of hundreds of jobless workers was felt in the businesses around the shipyard.

“Ninety-plus percent of the contract price of $34 million goes into payroll, health care, American-made materials, goods, services, local and federal taxes,” Mr. Foggia said. “One boat affects close to 1,000 households nationwide. There are 180 brand-new cars in our yard in the last 18 months.”

Mr. Foggia noted that the flow of money kept going with a boat like D’Natalin IV. “It costs $170,000 a month in crew, insurance, moorage, fuel and the crew buying all their things for the boat,” he said. “It’s a constant cash flow machine for the local economy whenever one of those things pulls in.”

Mr. Jones’s friend and financial adviser, Niall Gannon, said this might sound like trickle-down economics, but he considers it something different. “I’d call it ‘fire hose economics’ because the money left his account that fast,” he said. “It’s out of his account and in the accounts of these 200 people who worked on his yacht.”

The yacht also has a full-time crew of 10. An experienced captain on a ship like this earns $200,000 a year, an engineer about $100,000 and the rest of the crew members can expect to earn from $40,000 to $50,000 — on top of living rent-free on the yacht, said Christian Bakewell, a broker in the superyacht division at Merle Wood & Associates, who oversaw the construction of Mr. Jones’s yacht.

“People see the splashy images of Beyoncé stepping on a yacht,” he said. “What they don’t see is how many people go into building that yacht and maintaining that yacht. Those things get missed, and people fall back to the one percent arguments.”

Still, some people may think Mr. Jones’s purchase is excessive. But Ken Nopar, principal at Nopar Consulting, a philanthropic advisory that helps wealthy people give their money away, disagrees. “If people are spending money, it is creating jobs and providing a way of life,” he said. “There is nothing wrong with it. Without that type of spending there would be a lot more people in need of help from social service agencies.”

And Mr. Nopar pointed out that there was still charitable value in D’Natalin IV: If Mr. Jones tires of it, he can give it to a donor-advised fund, which would sell it and give the money away. In doing so, he would get a break on estate taxes.

For now, Mr. Jones is eager to use his yacht. The maiden voyage lasted 29 days. The next trip is to the Panama Canal with his entire family at Christmas. After that, he plans to open it up to friends, as he has done with previous yachts.

“All of our friends on our yacht have been friends well before Jones Pharma was ever started,” he said. “These are regular working folks just like I was. Having them share in our lifestyle is a way of giving only second to giving to others.”

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Dennis jones' st. louis mega-mansion.

The retired founder of Jones Pharma Inc. lives here. At 33,000 square feet and a cost of over $8M to build, the “Jones Mansion” is the largest single family dwelling in the St. Louis metro area. The mansion has 9 bedrooms, 9 full and 7 half baths, wine cellar, two-lane bowling alley, indoor racquetball court, an exercise room, a movie theater, a dance studio, wet and dry saunas, and an elevator. The home also has a six car garage, tennis court, and swimming pool.

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By SuperyachtNews 18 Jul 2014

Christensen christens 'D'Natalin IV' with owner at Gig Harbour

Christensen yachts has delivered the trideck 48.78m 'd’natalin iv', which significantly, is the first custom series yacht to be delivered by the shipyard since the 2008 global recession.….

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Merle Wood & Associates

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Rich Guy Is Pretty Sure His Megayacht Counts As Philanthropy

Pharmaceutical gazillionaire Dennis M. Jones “was struck by an intriguing coincidence ” upon upgrading his 151-foot yacht to a 164-foot, custom-built yacht named the D’Natalin IV , the Times reports . That coincidence? That the D’Natalin IV ’s $34 million price tag was roughly equivalent to the $34 million he’d given to charity since   2000.

Which got him thinking: $34 million on curing disease and helping the homeless, $34 million on “ high gloss raised panel walnut cabinetry and inlay stone floors ” for a floating mansion. What’s the difference,   really?

No, really, that’s the thought process that went through Jones’s mind, according to the Times .

Could the purchase of a superyacht be more than an act of self-indulgence? Could it provide something as significant, Mr. Jones wondered, as the financial aid he has given to children, homeless people, drug addicts and groups that promote education and entrepreneurship?

The answer to all of those questions, of course, is “hell no, are you crazy?” (In fact, studies have shown the exact opposite — that high-end luxuries like yachts and sports cars actually perpetuate inequality .) But that didn’t stop Jones from rationalizing his Scrooge McDuck lifestyle as an act of charity. He even called in the CEO of Christensen Yachts, which built the boat, to testify about how truly meaningful his order had been to the once-struggling company.

“ It costs $170,000 a month in crew, insurance, moorage, fuel and the crew buying all their things for the boat,” said the CEO . “It’s a constant cash flow machine for the local economy whenever one of those things pulls in.” A friend of Jones’s added, “I’d call it ‘fire hose economics’ because the money left his account that fast.” And Jones himself chimed in with some self-congratulations: “ The [yacht-maker] is up and running better because of   us.”

“ Mr. Jones said he wanted to encourage other wealthy people to think about how their opulent lifestyles could provide jobs just as their charity helps people in need,” the Times   said.

Truly, Jones should be cheered for his selfless act of buying a big-ass boat. Perhaps a Nobel Peace Prize is in order for Kim and Kanye’s wedding , too?

• white men with money
• ok now seriously let's implement full communism

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After Yacht Sinking Tragedy, Family of Exec Jonathan Bloomer and Wife Judy Say 'Only Comfort' Is They're 'Together'

"This is an unimaginable grief to shoulder," Jonathan and Judy Bloomer's family said in a statement

Family Handout/PA Wire

The family of Morgan Stanley International chairman Jonathan Bloomer and his wife Judy are speaking out after the Sicily yacht tragedy .

Bloomer and his wife were among the 22 passengers on the Bayesian  when it sank around 5 a.m. local time on Monday, Aug. 19 off the coast of Porticello, though it remains unclear why exactly it went down so quickly .

In the aftermath of the sinking, 15 people were rescued and the body of the yacht's chef, Recaldo Thomas, was found nearby, while six people were reported as missing: Bloomer and his wife; British tech businessman  Mike Lynch and his daughter Hannah; as well as New York City-based lawyer  Christopher Morvillo  and his wife, Neda.

PEOPLE previously reported that  five bodies had since been found . Although the Italian coast guard has not yet begun formally identifying the bodies that have been recovered, an official with the Italian interior ministry told Reuters  that Lynch's daughter is the individual who remains missing .

In a statement obtained by the BBC and Sky News on Thursday, Aug. 22, Jonathan and Judy's family described the couple as "incredible people and an inspiration to many."

"But first and foremost they were focused on and loved their family and spending time with their new grandchildren," they added.

"Together for five decades, our only comfort is that they are still together now," their statement added. "This is an unimaginable grief to shoulder. Our only ask is that our family's privacy is respected at this time."

The CEO of a London-based insurance company that Jonathan was the chairman of has also said they are "deeply shocked and saddened."

"Our deepest sympathies go out to their family and friends at this devastating time," Aki Hussain, Hiscox Group CEO, said in a statement obtained by PEOPLE.

“It was a privilege to have known Jonathan and to have benefitted from his generosity and wisdom over the last year in his role as Chair of Hiscox," Hussain added. "His deep experience across our industry and in the broader business arena, combined with his personal values, made him both an excellent Chair and a person I was proud to know and work with. His advice and support were immensely valuable to me, and he will be dearly missed.”

In a separate statement obtained by PEOPLE, Morgan Stanley Chief Executive Ted Pick remembered Jonathan as "mentor to many," and said that "we will all greatly miss his wise counsel and spirit of kindness."

“We are deeply saddened by this tragic news. Our thoughts and deepest condolences are with the Bloomer family and all those affected by this tragedy," Pick said.

Meanwhile, Judy, who was a teacher before spending nearly 30 years working as a psychotherapist, has been remembered as a "wonderful friend," according to the BBC.

She was also a former Trustee for The Eve Appeal , a U.K.-based charity that funds research and raises awareness for gynecological cancers.

"Everyone at the charity is deeply shocked to hear the news," CEO Athena Lamnisos wrote in a statement on X (formerly known as Twitter), after news spread that the Bloomers were among the missing.

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

Lamnisos added, "Our thoughts are with Judy and Jonathan’s family, and all those who are still waiting for news after this tragic event."

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SOLD OUT! Dennis & Judi 25th Anniversary Cruise

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NOTE: The Dennis & Judi 25th Anniversary Cruise is now SOLD OUT! Thank you for your support! You can win a pair of tickets by entering here!

Meet New Jersey 101.5’s Dennis & Judi aboard Teal  Cruise s for their 25 th  Anniversary  cruise ! Celebrate 25 years of broadcasting aboard the motor yacht  Festiva  with passed appetizers including caprese skewers, meatball lollipops, filet mignon crostini and shrimp cocktail along with a grazing table of artisanal cheeses, fruits, and breads.   Coffee and soft drinks are included.  Alcohol is BYOB in soft sided coolers only.

Enjoy spectacular views of the Sandy Hook Bay, Twin Lights and more while cruising in comfort and style with Dennis & Judi.

Boarding begins promptly at 6:30 pm.  The  cruise  departs at 7:00 pm and returns at 9:30 pm.  Seating is limited.

For tickets:

• Click on TealCruises.com .
• Click on 'Book Now' in the lower right hand corner.
• Select 101.5 Dennis & Judi Anniversary Cruise.
• Click on 'August 11' on the calendar.
• Click on the information box under the calendar.
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Water pressure at 160ft means Bayesian victims are unlikely to be found alive even with air pockets, fears diving expert

• Ryan Merrifield
• James Halpin
• Published : 17:51 ET, Aug 20 2024
• Updated : 4:00 ET, Aug 21 2024
• Published : Invalid Date,

A DIVING expert fears it's unlikely the missing Bayesian superyacht passengers are alive because of how intense the water pressure is 164ft below the surface.

Phil Jones , of the UK-based search team Beneath the Surface, told The Sun that the wreckage sinking so far down means the chances of finding any survivors is slim.

He said it very quickly "becomes a recovery operation" in such circumstances .

The frantic hunt for survivors is about to enter its third day as divers desperately look for a way to access the yacht's cabins 50 metres under the surface.

It comes as horrifying CCTV shows the moment the yacht was engulfed by the storm - while investigators are probing whether crew left hatches open accelerating the sinking.

The 184ft boat - which was anchored for the night off the coast of Sicily, was caught in a storm, including a tornadic waterspout which snapped the mast, at around 5am on Monday.

READ MORE ON THE SEARCH

Fears grow for superyacht victims as divers ‘reach yacht’s lounge’

Mike Lynch's plans for 'second life' after 10-yr battle… before party tragedy

It sunk quickly to the depths within minutes - and six people remain missing with hopes quickly fading that they will be found alive.

Among them are four Brits, including yacht owner and tech tycoon Mike Lynch - who was hosting a party to celebrate being cleared of fraud charges in the US.

Diving expert Phil Jones, from Trawden, Lancashire, said an air bubble could have formed underwater when the superyacht went down.

But he said it's unlikely that would be the case for the Bayesian passengers because even if it had formed, the wreck sunk down 160ft below the surface where the pressure would have been fatal.

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Mr Jones said: "Normally, in underwater conditions you are looking at the first hour or so.

It comes as...

• 'UK's Bill Gates'  Mike Lynch  & his daughter Hannah, 18, remain missing on the wreck
• Also missing are  Jonathan Bloomer , Judy Bloomer,  Chris Morvillo  and Neda Morvillo
• Lynch's wife revealed  how she was awoken by a 'tilt' as the yacht sank
• The  captain of the Bayesian  broke his silence on the horror storm
• Experts believe the yacht's 'tallest mast in the world' may have contributed to the disaster
• Pictures showed the  tiny raft that saved up to 15 people
• Frantic text messages  from the survivors revealed the chaos

"Then it becomes a recovery operation."

He explained those who survived the ordeal to be quickly rescued were lucky.

He explained: "It all happened so quickly that I think unless you're very close to an open exit it'd be very difficult then to escape.

"And I believe that some of them may have even been asleep."

The yacht's cabins would have quickly filled with water, and combined with the pressure at 50 metres down, chances of survival would be slim, Mr Jones said.

"Without oxygen the brain starts to get damage after between five and eight minutes," he said. 

"So, it really is a very short period to be able to try and save somebody who is underwater."

Mr Jones went on to say in "some rare circumstances" when ships capsize they are found to have "created an air bubble, an air pocket that somebody's survived in".

But he warned: "That's very rare. It very quickly underwater becomes a recovery operation rather than rescue."

Asked if it was possible air pockets had occurred on Monday, meaning more survivors, Mr Jones said: "It is very unlikely, unfortunately."

"Once it's sunk, there's going to be so many hazards and entrapment," he said.

He added that searching coastal conditions - particularly for divers - is "very difficult, almost impossible".

"The best case scenario would be that there's people alive, but I think that's unlikely now.

"The second best scenario is that they are contained inside that yacht, and the divers eventually will be able to clear that yacht."

Asked how much forewarning those on board would have had of the incoming storm, he said: "They may not have known the the full extent.

"They may have had weather warnings and some idea of adverse weather coming.

Who are the six still missing from the Bayesian yacht tragedy?

By Ellie Doughty, Foreign News Reporter

THE BAYESIAN superyacht was hosting a lavish party for 12 guests, with 10 crew also onboard.

After 15 people were rescued from the water on Monday, six people remain missing and one has been found dead.

Italian authorities said the man recovered near the yacht wreckage was the chef working onboard.

Four of the missing are British and two are American.

Mike Lynch, 59, and his daughter Hannah, 18, are among the four Brits lost at sea.

International chairman of bank giant Morgan Stanley, Brit Jonathan Bloomer, 70, is also missing along with his wife Judy.

As is top New York lawyer Chris Morvillo, a solicitor at major firm Clifford Chance who worked for Mike Lynch, and his wife Neda.

"Weather conditions can change extremely quickly, especially in these tropical climates.

"And especially when there's been previous storms already throughout the last couple of weeks in the area."

Mr Jones continued: "It may have changed very quickly. It may have been that it was just unsafe for them to head support once they in adverse weather.

"Sometimes it's actually more dangerous to head into shore, and so it’s a race."

Referring to the waterspout, he said: "There's two different types. There's the fair weather waterspout, which is more common than the tornadic one... and you'd have to be very unfortunate to get in the way of one of those. 

Mr Jones added: "They do happen. It could just be a very unfortunate tragic accident that they would just caught in the wrong place."

He went on to describe the difficulties faced by the dive teams tasked with scouring the wreckage.

The specialist divers are navigating pitch black depths in 10-minute intervals - but that's only half of it.

Once it's sunk, there's going to be so many hazards and entrapment. Phil Jones Beneath the Surface diving team

He said he is unsure the exact reason for the dive intervals but that the teams will be looking at "gas mixtures" and the best ways of manoeuvring the space.

"It'll all be down to depth," he added.

A hole was also being created in the hull to open up the wreckage a little more.

"Anyone who's been on a boat or a yacht will know that the corridors and doors are quite narrow, anyway," said Mr Jones.

"And they are considerably more so under underwater.

"There's gonna be furniture and other kind of debris lying around, possibly blocking doors.

"It’s gonna be a very difficult search inside the yacht itself."

He continued: "I mean, you're looking at the mast itself with the ropes and things like that, they can all be dangerous to divers.

"As soon as the diver gets down there everything is going to be methodical and for the divers' safety."

'A BIG CHOICE'

It comes as emergency teams trying to access the Bayesian will have to make "a big choice" as the rescue efforts intensify, a maritime diving and wreckage expert said.

Bertrand Sciboz told BBC News: "I think 50 metres is a limit to dive with a certain category of professional divers, so you will need to dive with some kind of helmet and pipe and (be) connected to the surface for oxygen, and also for for speaking and hearing and telling what you see and and do.

"It's always very difficult, and especially with a sailing vessel, because you've got rope everywhere, you've got a sail which is floating in the current, because we are in Mediterranean Sea and not in the English Channel.

"But the main thing, you know, it's the fact that in those kind of conditions, it's very hard to go inside the wreck, and they will have to have to make a big choice at one moment, of salvaging the whole wreck or rescuing the bodies."

The yacht was carrying 12 passengers and 10 crew. It sank half a mile off the coast of the island's capital Palermo.

Footage and pictures from the scene showed hordes of firefighters, divers and police scouring the water all day Monday, overnight and again on Tuesday.

All six people missing are tragically believed to still be inside the wreck, the Italian Coast Guard has said.

Tech tycoon Mr Lynch and his 18-year-old daughter Hannah are among those unaccounted for.

Top New York lawyer Chris Morvillo, a solicitor at major firm Clifford Chance who worked for Mr Lynch, and his wife Neda are also missing.

International chairman of bank giant Morgan Stanley, Brit Jonathan Bloomer, 70, along with his wife Judy, are also missing.

Clifford Chance lawyer Ayla Ronald, 36, and her partner were also among those rescued - as was Mr Lynch's wife Angela Bacares, 57.

The latter suffered horrific injuries after walking across broken glass to safety.

Mr Lynch, previously dubbed "the British  Bill Gates ", was hosting a party on the boat along with his wife and daughter.

The business tycoon - worth an estimated £852m - was surrounded by members of his legal firm and company Invoke Capital to celebrate a US jury clearing him of fraud earlier this summer.

He was extradited to the US in 2023 over the £8.5billion sale of his software firm Autonomy to Hewlett-Packard in 2011 and was accused of inflating the company’s value.

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The dad-of-two had spent a year under house arrest in the States.

He was cleared of 16 counts of wire fraud, securities fraud and conspiracy, following a trial in San Francisco in June.

Who is Mike Lynch?

By Georgie English, Foreign News Reporter

ENTREPRENEUR Mike Lynch is still believed to be missing hours after a £14m luxury yacht capsized in a tornado off the coast of Sicily.

The tech tycoon, dubbed "Britain's Bill Gates", was one of the 22 people sailing onboard the £166,000 a week vessel, the Telegraph reported this afternoon.

Lynch, 59, sold Autonomy Corporation - a tech company for $11b to Hewlett-Packard in 2011.

He has also been involved in Invoke Capital and cybersecurity company Darktrace.

He was awarded an OBE for his services to enterprise in 2006.

Born in Ilford, Lynch had a firefighter father from County Cork and a nurse mother from County Tipperary.

Away from work, Mike is married to wife Angela Bacares and the pair have two children together.

In 2023, the Sunday Times rich list set the couple's value at £852m.

Just weeks ago, Lynch was acquitted of criminal charges by a jury in San Francisco after a 12-year legal battle over the $11bn sale of his firm, Autonomy, to Hewlett-Packard in 2011.

He was extradited to the US on fraud charges back in 2023 with a judge setting his bail at £79m.

US Marshsals took Lynch into custody at Heathrow, putting him in chains and bundling him on board a United Airlines flight.

However, he had a few things in his favour.

The nature of the case led to a boring and turgid trial, including painstaking parades of emails, reports and spreadsheets filled with jargon, leaving jurors glassy-eyed.

One was even dismissed because he repeatedly fell asleep.

Lynch argued that any questionable activity was entirely immaterial in the context of a thriving business bringing in hundreds of millions a year.

While his lawyers claimed the books were approved by outside accountants and that, by British standards, the deals in question were appropriately accounted for.

Lynch was used as the final witness and rather than going "right for the jugular", as his head lawyer Brian Heberlig said, the prosecutors simply "reviewed a chronology of documents, with no probing questions". The jury agreed.

Dennis M. Jones

Age, biography and wiki.

Dennis M. Jones was born on 12 September, 1938. Discover Dennis M. Jones's Biography, Age, Height, Physical Stats, Dating/Affairs, Family and career updates. Learn How rich is He in this year and how He spends money? Also learn how He earned most of networth at the age of 78 years old?

We recommend you to check the complete list of Famous People born on 12 September. He is a member of famous with the age 78 years old group.

Dennis M. Jones Height, Weight & Measurements

At 78 years old, Dennis M. Jones height not available right now. We will update Dennis M. Jones's Height, weight, Body Measurements, Eye Color, Hair Color, Shoe & Dress size soon as possible.

Dating & Relationship status

He is currently single. He is not dating anyone. We don't have much information about He's past relationship and any previous engaged. According to our Database, He has no children.

Dennis M. Jones Net Worth

His net worth has been growing significantly in 2022-2023. So, how much is Dennis M. Jones worth at the age of 78 years old? Dennis M. Jones’s income source is mostly from being a successful . He is from . We have estimated Dennis M. Jones's net worth , money, salary, income, and assets.

Dennis M. Jones Social Network

After selling Jones Pharma, the Joneses retired in Ladue, a suburban St. Louis community. In 2014, Dennis and Judy Jones ordered the build of a $34 million, 164 ft. motor yacht – D’Natalin IV - by U.S. yacht builder, Christiansen Yachts. Jones died in St. Louis, Missouri on September 20, 2016.

In the summer of 2000, the Joneses decided to sell the company to King Pharmaceuticals, based in Bristol, TN for $3.4 billion, an all-time record price for a company with annual sales of $200 million. According to public filings, the vast majority of the company sales proceeds were realized by the company's 600 employees and other public shareholders. Jones initiated one of the first employee stock option programs in the pharmaceutical industry.

The Dennis M. Jones Family Foundation is a St. Louis, Missouri-based foundation with a mission to support initiatives which empower individuals to succeed in life, with a focus on providing scholarships to underprivileged students. It was founded in 2000, and since then, more than $35 million has been contributed to charitable causes including civic organizations, education, Marines & Veterans, fighting homelessness, fighting poverty, and many others.

By 1999, they had made 19 acquisitions. Jones acquired a product named Thrombin USP, a hemostat that acts as a clotting agent in surgery. They tenaciously marketed the product and it wasn't long before sales of Thrombin surpassed similar products at Parke Davis and Johnson & Johnson, eventually driving both out of the market. The company completed its initial public offering in 1986, trading under the ticker symbol JMED on the NASDAQ. For a decade in the 1990s, with Dennis as the Chairman and CEO, Jones Pharma's return to investors was the largest of any pharmaceutical company and the second largest on Wall Street.

Dennis and Judy Jones gathered their entire savings, $100,000, along with an additional $200,000 from friends, and founded Jones Medical, later renamed Jones Pharma, on March 16, 1981. The idea was to purchase products and companies, eliminate duplicate overhead, and make profitable acquisitions.

Upon his return to the U.S. in 1961, he worked for Rockford Life Insurance Company, where he stayed for three years, eventually becoming the youngest district sales manager in the company’s history.During that time, he met Jim O’Neal who had just started his own company. Jim O’Neal was impressed with Jones and hired him in sales for his upstart pharmaceutical company, Sig: Laboratories. After a few years, O’Neal sold the company to a subsidiary of Revlon. O’Neal and Jones formed OJF Pharmaceutical Sales company, which in 1978, was acquired by Chromalloy American Corporation.

In 1958, a year after enlisting, he married his high school sweetheart, Judy Pearce, who was from a more affluent area. Dennis wanted to run in her social circles and eventually provide her with the lifestyle she was accustomed to. Dennis and Judy began their married life in a trailer home. Dennis knew he wanted to start a career in pharmaceutical sales early on. He thought because of his farm equipment sales exposure, sales would be the best way to provide for the family.

As a teenager, Dennis’ father often took him to St. Louis for trade shows where he experienced first-hand the polished side of business and the art of salesmanship. He also read books about business and success, including Dale Carnegie’s How to Win Friends and Influence People. Dennis wasn’t a particularly good student, and after graduating from high school in 1956, college was not an option because his parents could not afford it. He worked for a year at Ford Motor Company in Chicago Heights, Illinois, and then enlisted in the U.S. Marine Corps.

Dennis M. Jones (September 12, 1938 – September 20, 2016) was an American businessman and pharmaceutical magnate, best known as the founder of Jones Pharma and Dennis M. Jones Family Foundation.

Jones was born in Terre Haute, Indiana, in 1938, the son of a farm equipment dealer and a registered nurse. The family moved to Marshall, Illinois when he was a young boy. As early as age 10, Dennis was helping out with the family business, sweeping floors and dusting the sales barn at his father's farm implements dealership. By high school, Dennis was earning about 25 cents an hour, or $15 a week, and paying his parents $12 a week for room and board, leaving him $3 per week to buy school lunches and enjoy 75 cents of spending money. He considered those valuable learning experiences about business and the value of money.

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What we know about the Bayesian superyacht that sank

The Bayesian, which capsized in the early hours of Monday, was an award-winning yacht with the second-tallest mast in the world.

News reporter @niamhielynch

Thursday 22 August 2024 10:07, UK

The Bayesian, an award-winning superyacht, sank during bad weather off the coast of Sicily in the early hours of Monday.

On Thursday, authorities confirmed divers had found the bodies of British tech tycoon Mike Lynch, Morgan Stanley International boss Jonathan Bloomer, his wife Judy, and one of Mr Lynch's lawyers Chris Morvillo, and his wife Neda.

Recaldo Thomas, the on-board chef, was the first to be confirmed dead earlier this week.

Mr Lynch's wife, Angela Bacares, was rescued along with 14 others - including Charlotte Golunski, a mother who told la Repubblica she held her one-year-old baby above the waves to save her from drowning.

Mr Lynch's 18-year-old daughter Hannah is still missing.

But what do we know about the ship?

The British-flagged 56-metre ship - previously called the Salute - was built in 2008 by Italian shipyard Perini Navi, and refitted in 2020.

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Its 72-metre mast was the world's tallest aluminium mast, and the second-tallest overall. The yacht could reach a maximum speed of 15 knots and weighed 543 tonnes.

The French design house Remi Tessier fitted out the Japanese-style interior decor, with touches of light and dark beige and dark wood furnishings, as well as a teak deck.

It won the best exterior styling at The World Superyacht Awards in 2009, and best interior at the International Superyacht Society Awards 2008.

It had six guest bedrooms - one master, three doubles, and two twins - holding 12 people, and could carry another 10 crew members.

Pictures show air conditioning units in several of the bedrooms, which could counter expert claims open windows may have caused water to rush in and tip the boat over faster.

Shipspotting.com says it was owned by a firm called Revtom Limited. Mike Lynch's wife, Ms Bacares, is named as the sole shareholder of the firm on company documents.

Read more from Sky News: Lynch's co-defendant dies after being hit by car We can learn from Lynch's unsuccessful prosecution

The yacht's name would resonate with Mr Lynch because his PhD thesis and the software that made his fortune involved a statistical method known as Bayesian inference, based on an 18th-century theory, which helps forecasters predict outcomes more reliably.

Keep up with all the latest news from the UK and around the world by following Sky News

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It was listed for rent for up to €195,000 (£166,000) a week, according to online charter sites.

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Inside divers’ gruelling mission to recover Bayesian victims as they find 5 bodies including Mike Lynch & daughter, 18

• Ryan Merrifield
• Published : 0:11, 22 Aug 2024
• Updated : 7:18, 22 Aug 2024
• Published : Invalid Date,

DIVERS scouring the wreckage of the doomed superyacht Bayesian have been delving into untold dangers for days.

They've navigated in the pitch black through the vessel's cramped passages filled with hazards as they attempt to recover bodies trapped within .

The luxury boat is lying on its side at a depth of around 160ft, and in the treacherous coastal waters some half a mile off Sicily since Monday morning's sinking.

The eight divers from across Italy have so far found five bodies inside the vessel - with another person still missing.

Two of those recovered are believed to be British tech tycoon Mike Lynch, 59, and his 18-year-old daughter Hannah, Sicily’s civil protection chief Salvo Cocina told the Daily Telegraph.

The body of Canadian-Antiguan chef, Recaldo Thomas, was found in the open water on Monday and a seventh person remains missing.

READ MORE ON THE SEARCH

Unanswered questions on Sicily sinking including how yacht went down in 60 secs

Moment waterspouts batter Italian coast on same day that superyacht was sunk

The missing include Morgan Stanley International bank chairman Jonathan Bloomer and his wife Judy, and Clifford Chance lawyer Chris Morvillo and his wife Neda.

It comes as...

• The bodies of  Mike Lynch  & his daughter Hannah, 18, were believed to have been recovered from the sunken superyacht
• Another two bodies were found in the search for the missing passengers
• Lynch's shell-shocked wife  revealed how she was  awoken by a 'tilt'  as the yacht sank
•  The  captain of the Bayesian  broke his silence on the horror storm and was  quizzed by cops for over two hours
•  Experts believe the yacht's ' tallest mast in the world ' may have contributed to the disaster after a  freak ‘Black Swan’ weather event struck
•  Pictures showed the  tiny raft that saved up to 15 people
•   Frantic text messages  from the survivors revealed the chaos

Experts have told how the divers - who are going down to the wreckage at 10-minute intervals - will be traumatised by the arduous task and are risking their own lives.

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The salvage teams began scouring the wreckage with remote controlled underwater vehicles just hours after the sinking, as of around 8am.

The robots can be used at depths of 300m and are equipped with “advanced technology to investigate the seabed and record videos and detailed images”, according to the Coast Guard.

Naval units and cave divers are also taking part in the search.

Fire crews described the operation as "complex".

One person remains missing - with the search halting for the night until Thursday morning.

The Bayesian sunk at around 4am with 12 passengers and 10 crew on board.

Bertrand Sciboz, who runs a company specialising in shipwreck research and salvage, told the BBC : "For myself and for my team of divers, it's always very difficult if you have to do this job.

Who is Mike Lynch?

FORMER billionaire entrepreneur Mike Lynch was reported to have been found dead after a £14m luxury yacht capsized in a tornado off the coast of Sicily Monday morning.

The tech tycoon, dubbed "Britain's Bill Gates", was one of the 22 people sailing onboard the £166,000 a week vessel.

Lynch, 59, was a serial entrepreneur having founded and sold tech and software companies with one of his biggest being Autonomy Corporation.

He was also been involved in Invoke Capital and cybersecurity company Darktrace.

As well as being awarded an OBE for his services to enterprise in 2006.

Born in Ilford, Lynch had a firefighter father from County Cork and a nurse mother from County Tipperary.

Away from work, Mike was happily married to wife Angela Bacares and the pair had two children together.

Angela is among those who have been rescued on the superyacht.

In 2023, the Sunday Times rich list set the couple's value at £852m.

But Mike was extradited to the US on fraud charges back in 2023 with a judge setting his bail at £79m.

Just weeks ago, Lynch was acquitted of criminal charges by a jury in San Francisco after a 12-year legal battle over the $11bn sale of his firm, Autonomy, to Hewlett-Packard in 2011.

The doomed yacht, named Bayesian, is also said to be owned by the Lynch family.

"It's always a big trauma," he added, even if the divers are used to recover missions like this one.

Sciboz said it will be especially challenging to recover any missing passengers who were in the lower decks when the yacht sank.

"The worst thing in this case will be taking off all the debris just floating everywhere in the yacht."

Phil Jones , of the UK-based search team Beneath the Surface, said the reason for the brief dive intervals is likely due to the " gas mixtures" used in the oxygen tanks - and will be part of a well-drawn plan to ensure safety.

He told The Sun : "It'll all be down to depth."

A hole was also being created in the hull to open up the wreckage a little more.

"Anyone who's been on a boat or a yacht will know that the corridors and doors are quite narrow, anyway," he said.

"And they are considerably more so under underwater.

"There's going to be furniture and other kinds of debris lying around, possibly blocking doors.

"It’s gonna be a very difficult search inside the yacht itself."

He continued: "I mean, you're looking at the mast itself with the ropes and things like that, they can all be dangerous to divers.

"As soon as the diver gets down there everything is going to be methodical and for the divers' safety."

The recovery operation will enter its fourth day on Thursday.

Mr Jones, 36, from Trawden, Lancashire, explained those who survived the ordeal to be quickly rescued were lucky.

"It all happened so quickly that I think unless you're very close to an open exit it'd be very difficult then to escape," he said.

"And I believe that some of them may have even been asleep."

He added: "Normally, in underwater conditions you are looking at the first hour or so.

"Then it becomes a recovery operation."

Salvatore Cocina, the head of Sicily's civil protection agency, confirmed that searches had finished for the day on Wednesday and will resume on Thursday morning.

He confirmed that the whereabouts of the missing sixth person remains unknown.

Identities of the recovered bodies have not been confirmed by authorities, despite local and international media reporting some had been identified.

Body bags were seen being taken to the port of Porticello on Wednesday afternoon, with the process of bringing the fifth body to shore being described by Mr Cocina as "ongoing".

He said there will be an investigation in due course, but the priority is finding the missing.

As the body bags were taken back to the port, dozens of emergency services staff were waiting, and one bag was seen being put in the back of an ambulance.

Inspections of the yacht's internal hull took place on Wednesday morning.

A team of four British inspectors from the Marine Accident Investigation Branch (MAIB) also arrived in Porticello to look at the site of the sinking.

The MAIB is looking into what happened because the Bayesian was flying a British flag, it is understood.

The Italian coastguard said the MAIB is not involved in the search for the missing people and has not been requested to assist.

A helicopter was drafted in to help the search effort as divers from the local fire service entered the water with torches attached to their headgear.

A police boat and divers also entered the water on Wednesday afternoon.

Fire crews said they had been accessing the vessel through natural entrances, without making openings.

The Bayesian was moored around half a mile off the coast of Porticello when it sank at about 5am local time on Monday as the area was hit by a storm.

Of the 22 on board, 15 - including Mr Lynch's wife, Angela Bacares - were rescued after escaping on to a lifeboat.

Survivors have been recuperating at a hotel complex in Porticello, where authorities were gathering witness statements.

The boat trip was a celebration of Mr Lynch's acquittal in a fraud case in the US.

The businessman, who founded software giant Autonomy in 1996, was cleared in June of carrying out a massive fraud relating to its 11 billion US dollar (£8.64 billion) sale to US company Hewlett Packard.

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The Financial Times reported that Mr Bloomer appeared at trial as a defence witness for Mr Lynch, while media reports suggest the pair are close friends.

In a separate incident, Mr Lynch's co-defendant in his US fraud trial, Stephen Chamberlain, died after being hit by a car while out running in Cambridgeshire on Saturday.

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Rescue boats operate on the sea to search for the missing, including British entrepreneur Mike Lynch, after a luxury yacht sank off the coast of Porticello, near the Sicilian city of Palermo, Italy August 20, 2024. REUTERS/Guglielmo Mangiapane

Four Bodies Retrieved from Mike Lynch’s Sunken Yacht Off Italy

Share this article.

By Giselda Vagnoni

PORTICELLO, Italy, Aug 21 (Reuters) – Four bodies were retrieved on Wednesday from the sunken wreck of a yacht belonging to the wife of British tech magnate Mike Lynch, the Italian fire brigade said, adding that they were continuing to search for two missing people.

The bodies were brought ashore on rescue boats and taken to nearby hospitals for formal identification. Local authorities refused to give any information about who they might have found. 

Britain’s Daily Telegraph reported that two of the dead were Lynch and his 18-year-old daughter, while Italy’s Corriere della Sera said the only bodies identified so far were Morgan Stanley banker Jonathan Bloomer and U.S. lawyer Chris Morvillo.

Bloomer’s wife, Judy, and Morvillo’s wife, Neda, also vanished when the British-flagged Bayesian , which had been carrying 22 people, was hit by a fierce, pre-dawn storm on Monday and sank.

Lynch, 59, was one of the UK’s best-known tech entrepreneurs and had invited friends to join him on the luxurious yacht to celebrate his recent acquittal in a U.S. fraud trial.

The 56-meter (184-foot) Bayesian had been anchored off the Sicilian port of Porticello when the storm struck and witnesses said it disappeared beneath the waves in a matter of minutes, baffling naval marine experts who said such a vessel, presumed to have top-class fittings and safety features, should have been able to withstand such weather.

The yacht is lying on its side at a depth of around 50 meters (165 feet), apparently largely intact.

Specialist rescuers have been searching inside the hull of the sunken yacht for the past two days. The victims were believed to have been trapped in cabins, which have proved extremely hard to get to, with divers only able to stay in the vessel for 8-10 minutes before having to re-surface.

Fifteen people, including Lynch’s wife, managed to escape the boat before it capsized, while the body of the onboard chef, Canadian-Antiguan national Recaldo Thomas, was found near the wreck hours after the disaster.

Besides the diving team, the coast guard has deployed a remotely operated vehicle to scan the seabed and take underwater pictures and videos that it said may provide “useful and timely elements” for prosecutors looking into the disaster.

MYSTERY 

The coast guard has been questioning survivors, including the captain of the Bayesian , and passengers on the yacht that was moored next to it who witnessed the ship going down, judicial sources said. That vessel survived unscathed.

No one is under investigation at the moment, sources added.

The Bayesian was built by Italian shipbuilder Perini in 2008 and was last refitted in 2020. It had the world’s tallest aluminum mast, measuring 72 meters (236 feet), according to its makers.

Lynch has been referred to as Britain’s Bill Gates. He built the UK’s largest software firm, Autonomy, which was sold to HP for $11 billion in 2011, after which the deal spectacularly unraveled with the U.S. tech giant accusing him of fraud, resulting in a lengthy trial. 

He was acquitted on all charges by a jury in San Francisco in June. Morvillo, who works for Clifford Chance, represented him at the trial, while Bloomer was a character witness on his behalf.

Bayesian’s captain, James Cutfield, a 51-year-old New Zealander who survived the shipwreck, was a “very good sailor” and “very well respected” in the Mediterranean, his brother Mark told The New Zealand Herald. 

Matthew Schanck, chair of the Maritime Search and Rescue Council, a UK-based non-profit organization that trains sea rescuers, said the Bayesian was the victim of a “high impact” weather-related incident.

“If it was a water spout, which it appears to be, it’s what I would class as like a black swan event,” he told Reuters, meaning a rare and unpredictable phenomenon. 

(Writing by Crispian Balmer and Alvise Armellini; Additional reporting by Guglielmo Mangiapane, Wladimiro Pantaleone and Matteo Negri, editing by Gavin Jones, Bernadette Baum, Sharon Singleton and Sandra Maler)

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For super yacht, 'fire hose economics' — not trickle-down

• New York Times

Dennis M. Jones was struck by an intriguing coincidence when he received his custom-built 164-foot super yacht: The $34 million he paid for it was equal to the $34 million he had donated to charity since 2000. The contributions helped the neediest around St. Louis get an education, get healthy or get a fresh start.

Could the purchase of a super yacht be more than an act of self-indulgence? Could it provide something as significant, Jones wondered, as the financial aid he has given to children, homeless people, drug addicts and groups that promote education and entrepreneurship?

Jones, who made his fortune when he sold Jones Pharma, a niche drug company, to King Pharmaceuticals for $3.4 billion in 2000, is under no illusions that a super yacht is an essential item, even for someone in the top 0.1 percent.

"It's a very expensive enterprise," he said. "It's the ultimate for people who want the ultimate."

Yet the yacht he purchased helped save Christensen Yachts, a 30-year-old American yacht builder, whose workforce shrank from 500 to 75 after the financial collapse. Beyond improving the leisure time of one very successful man, the yacht Jones ordered added jobs.

"The company is up and running better because of us," Jones said. Today, Christensen has a three-year waiting period for one of its yachts.

Is Jones just a wealthy man trying to justify spending tens of millions of dollars on a new yacht? Or is he subtly challenging the billionaires who make a show of signing the Warren Buffett-Bill Gates pledge to give away most of their money to philanthropies during their lifetimes — those who seem almost embarrassed by the lifestyles funded by their enormous fortunes?

Wealth is not something to be embarrassed by, Jones contends; in his view, people should be encouraged to seek it.

Jones is unabashed about his lifestyle.

He and his wife, Judy, live in a 31,000-square-foot mansion outside St. Louis. When they want to cruise on their new yacht, D'Natalin IV , which will spend winters in the Caribbean and summers in Europe, they fly to it — or anywhere else they want to go — on a private plane.

"I retired at 62 after hitting an unbelievable home run, and now we have the great home, the great yacht and the method of getting there," said Jones, 75. "Wherever we go, we have the same level of service."

Despite this luxury lifestyle, the charities he supports are not the most glamorous ones? He gives to St. Patrick Center, which provides help for homeless people in St. Louis, and Connections to Success, which helps low-income people find jobs and become self-sufficient. Another favorite organization is Junior Achievement because it teaches children about free enterprise.

He donated $500,000 to Ranken Technical College to pay for a program that teaches ex-convicts in St. Louis a trade and helps get them a job.

"The one theme throughout is education," Jones said of his charitable giving. "I only have a high school degree. It didn't matter back then, but we have a different society today."

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Jones said he wanted to encourage other wealthy people to think about how their opulent lifestyles could provide jobs just as their charity helps people in need.

That's where the 164-foot yacht comes in. After 15 years with a 151-foot Delta, which had room for 12 guests and 10 crew members, the Joneses wanted to have their own super yacht built from scratch. They chose Christensen Yachts in Vancouver, Wash., because of its reputation for quality and ability to handle a unique hull design.

What Jones didn't realize in early 2013 was how much Christensen Yachts was struggling from the recession. "There were only two other yachts plus ours being built," he said. "I learned all three of them had some financial issues with money to finish them. I came in with money transferred from my brokerage account and this got them out of debt and got the project moving again."

Jones, who had employed 650 people at Jones Pharma and gave stock options to employees at all levels, liked the idea of his money providing jobs and potentially saving an American company.

Joe F. Foggia, Christensen CEO, does not dispute Jones' recollection. His yacht order was a catalyst for others. "We had finished some boats, but the last one we delivered was in the latter part of 2010," he said.

His business was so slow in 2013 that the company had reorganized itself and branched out into other industries like manufacturing wind turbines and making smaller yachts that other companies would sell under their brand.

"Before 2008, no one took any interest in what we were doing," he said of the residents of the city, just across the Columbia River from Portland, Ore. "When we started laying people off, we were viewed as the rich man's toy box."

That changed when the economic impact of hundreds of jobless workers was felt in the businesses around the shipyard.

"Ninety-plus percent of the contract price of $34 million goes into payroll, health care, American-made materials, goods, services, local and federal taxes," Foggia said. "One boat affects close to 1,000 households nationwide. There are 180 brand-new cars in our yard in the last 18 months."

Foggia noted that the flow of money kept going with a boat like D'Natalin IV .

"It costs $170,000 a month in crew, insurance, moorage, fuel and the crew buying all their things for the boat," he said. "It's a constant cash flow machine for the local economy whenever one of those things pulls in."

Jones' friend and financial adviser, Niall Gannon, said this might sound like trickle-down economics, but he considers it something different. "I'd call it 'fire hose economics' because the money left his account that fast," he said. "It's out of his account and in the accounts of these 200 people who worked on his yacht."

The yacht also has a full-time crew of 10. An experienced captain on a ship like this earns $200,000 a year, an engineer about $100,000 and the rest of the crew members can expect to earn from $40,000 to $50,000 — on top of living rent-free on the yacht, said Christian Bakewell, a broker in the super yacht division at Merle Wood & Associates who oversaw the construction of Jones' yacht.

"People see the splashy images of Beyoncé stepping on a yacht," he said. "What they don't see is how many people go into building that yacht and maintaining that yacht. Those things get missed, and people fall back to the 1 percent arguments."

Still, some people might think Jones' purchase is excessive. But Ken Nopar, principal at Nopar Consulting, a philanthropic advisory, disagrees. "If people are spending money, it is creating jobs and providing a way of life," he said. "Without that type of spending, there would be a lot more people in need of help from social service agencies."

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Four bodies retrieved from sunken yacht in Sicily

Four bodies were retrieved on Wednesday from the sunken wreck of a yacht belonging to the wife of British tech magnate Mike Lynch, the Italian fire brigade said, adding that they were continuing to search for two missing people.

The bodies were brought ashore on rescue boats and taken to nearby hospitals for formal identification. Local authorities refused to give any information about who they might have found.

Britain's Daily Telegraph reported that two of the dead were Lynch and his 18-year-old daughter, while Italy's Corriere della Sera said the only bodies identified so far were Morgan Stanley banker Jonathan Bloomer and U.S. lawyer Chris Morvillo.

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Bloomer's wife, Judy, and Morvillo's wife, Neda, also vanished when the British-flagged Bayesian, which had been carrying 22 people, was hit by a fierce, pre-dawn storm on Monday and sank.

Lynch, 59, was one of the UK's best-known tech entrepreneurs and had invited friends to join him on the luxurious yacht to celebrate his recent acquittal in a U.S. fraud trial.

The 56-metre (184-foot) Bayesian had been anchored off the Sicilian port of Porticello when the storm struck and witnesses said it disappeared beneath the waves in a matter of minutes, baffling naval marine experts who said such a vessel, presumed to have top-class fittings and safety features, should have been able to withstand such weather.

The yacht is lying on its side at a depth of around 50 metres (165 feet), apparently largely intact.

Specialist rescuers have been searching inside the hull of the sunken yacht for the past two days. The victims were believed to have been trapped in cabins, which have proved extremely hard to get to, with divers only able to stay in the vessel for 8-10 minutes before having to re-surface.

Fifteen people, including Lynch's wife, managed to escape the boat before it capsized, while the body of the onboard chef, Canadian-Antiguan national Recaldo Thomas, was found near the wreck hours after the disaster.

Besides the diving team, the coast guard has deployed a remotely operated vehicle to scan the seabed and take underwater pictures and videos that it said may provide "useful and timely elements" for prosecutors looking into the disaster.

The coast guard has been questioning survivors, including the captain of the Bayesian, and passengers on the yacht that was moored next to it who witnessed the ship going down, judicial sources said. That vessel survived unscathed.

No one is under investigation at the moment, sources added.

The Bayesian was built by Italian shipbuilder Perini in 2008 and was last refitted in 2020. It had the world's tallest aluminum mast, measuring 72 metres (236 feet), according to its makers.

Lynch has been referred to as Britain's Bill Gates. He built the UK's largest software firm, Autonomy, which was sold to HP for US$11 billion in 2011, after which the deal spectacularly unraveled with the U.S. tech giant accusing him of fraud, resulting in a lengthy trial.

He was acquitted on all charges by a jury in San Francisco in June. Morvillo, who works for Clifford Chance, represented him at the trial, while Bloomer was a character witness on his behalf.

Bayesian's captain, James Cutfield, a 51-year-old New Zealander who survived the shipwreck, was a "very good sailor" and "very well respected" in the Mediterranean, his brother Mark told The New Zealand Herald.

Matthew Schanck, chair of the Maritime Search and Rescue Council, a UK-based non-profit organization that trains sea rescuers, said the Bayesian was the victim of a "high impact" weather-related incident.

"If it was a water spout, which it appears to be, it's what I would class as like a black swan event," he told Reuters, meaning a rare and unpredictable phenomenon.

Writing by Crispian Balmer and Alvise Armellini; Additional reporting by Guglielmo Mangiapane, Wladimiro Pantaleone and Matteo Negri, editing by Gavin Jones, Bernadette Baum, Sharon Singleton and Sandra Maler

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