Jonathan Bloomer, chairman of Morgan Stanley International was among the missing.
Fifteen people escaped before it went down, including Lynch's wife and a one-year-old girl.
For more financial news, go to the News24 Business front page.
One man died and six people were missing, including British tech entrepreneur Mike Lynch and his daughter, after a luxury yacht was struck by an unexpectedly violent storm and sank off Sicily early on Monday.
The British-flagged "Bayesian", a 56-metre-long sailboat, was carrying 22 people and was anchored just off shore near the port of Porticello when it was hit by ferocious weather, the Italian coast guard said in a statement.
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