The British tech entrepreneur Mike Lynch has been confirmed dead by search and rescue authorities after his yacht sank off the coast of Sicily during a violent storm, according to officials.

Lynch, 59, the founder of Autonomy Corporation, was among six people missing after the British-flagged 56-metre sailing boat Bayesian capsized at about 5am local time on Monday off the coast of Palermo when the area was hit by a tornado.

Lynch’s body was retrieved from the wreck on Thursday, Massimo Mariani, an interior ministry official, told Reuters after being briefed by the emergency services. Agence France-Presse also reported that Lynch’s body had been recovered, citing a coastguard official.

His wife, Angela Bacares, was rescued on Monday, while his 18-year-old daughter, Hannah, is still unaccounted for. Mariani said her body may be inside the wreck or she could have been tossed into the sea as the boat sank.

A spokesperson for the Italian fire brigade said it could take days before the last missing person was found, given the difficulties facing the divers on a wreck 50m (165ft) below the surface.

The bodies of four people were recovered from the wreck on Wednesday. The body of the yacht’s chef, Recaldo Thomas, was found on Monday, shortly after the vessel sank.

Lynch, once described as Britain’s Bill Gates, spent much of the last decade in court defending his name against allegations of fraud related to the sale of Autonomy to the US tech company Hewlett-Packard for $11bn (£7bn).

He was acquitted by a jury in San Francisco in June after he had spent more than a year living in effect under house arrest. The boat trip was a celebration of being cleared of the charges.

Lord Browne, the chair of the Francis Crick Institute, was among the first to pay tribute to Lynch. In a post on X, he wrote: “Mike Lynch should be remembered as the person who catalysed a breed of deep tech entrepreneurs in the UK.

“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.”

Lynch was a member of the Create the Change fundraising board, set up by Cancer Research UK and which helped fund the building of the institute.

He was also a director of the BBC for five years.

David Tabizel, Lynch’s co-founder at Autonomy, posted on X: “It looks like we’ve lost our dear Dr Mike Lynch. RIP. The world has lost a genius. His family have lost a giant of a man.” Speaking to BBC News, he described Lynch as a “human supercomputer”.

The Royal Academy of Engineering, where Lynch was a fellow, said in a statement that it was deeply saddened by his death: “Mike became a fellow of the Royal Academy of Engineering in 2008 and we have fond memories of the active role he played in the past, as a mentor, donor and former council member. He was also one of the inaugural members on the enterprise committee. Our thoughts are with his family and friends at this time.”

Tim Davie, BBC director general, paid tribute to Lynch on Thursday. He said: “We are deeply saddened by the awful news about the deaths of those aboard the Bayesian yacht. Mike Lynch was an outstanding BBC director, who made a major contribution during his time on the board, from 2007 to 2012.

“Wise, generous and insightful, he played a particularly key role in accelerating our transformation as a digital organisation. Our thoughts are with his family and all others involved.”

Earlier on Thursday, a senior official confirmed to the Guardian that divers had recovered a fifth body from the wreck. The head of Sicily’s civil protection agency, Salvatore Cocina, said the body had been successfully recovered and transported to Porticello’s pier.

Italian media, quoting sources among the divers, said the victims retrieved on Wednesday were Chris Morvillo and his wife, Neda, as well as the executive chair of Morgan Stanley International, Jonathan Bloomer, and his wife, Judy. The Bloomers’ family described them as “incredible people and an inspiration to many”.

Questions remain about why the yacht sank within minutes. The head of the company that built the boat yesterday hit back at suggestions that the length of its mast was a risk factor.

Giovanni Costantino, head of the Italian Sea Group, which includes the Perini Navi company, insisted the boat was safe. He said a series of human errors had contributed to the tragedy. In an interview with Italy’s Corriere della Sera, Costantino cited hatches being left open and the keel not being fully lowered.

The bodies recovered on Wednesday were taken to hospitals in the nearby city of Palermo. They have not been officially identified.

There were 22 people onboard when the yacht sank. Fifteen survived, including a one-year-old girl.