A British tech magnate and several other people were missing after a luxury superyacht sank near the Sicily’s main city of Palermo during a violent storm, Italian officials and sources familiar with the matter told CNBC. At least one person was killed in the incident.

Mike Lynch, who was regularly described in U.K. media as “Britain’s Bill Gates,” was not among those rescued, said the sources, who preferred not to be named due to the sensitivity of the situation. They added that…