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CEO who went viral for firing 900 employees on Zoom before Christmas is now mad that he got fired
The Independent • • business
Key Points:
- Vishal Garg, founder and former CEO of Better Homes & Finance, was abruptly fired on August 3 and replaced by hedge fund manager Daniel Lewis, who had joined the board just a week earlier.
- Garg alleges that Lewis misled the board by praising the company’s strategy to gain their confidence before orchestrating Garg’s ouster and assuming the CEO role himself.
- Despite past setbacks, including a drastic drop in sales from $1.5 billion in 2021 to $70 million in 2023, Garg claims the company is recovering with AI-driven mortgage processing and is on track for $200 million in sales this year.
- The company’s stock has fallen 45% since Lewis became CEO, and Garg has hired a lawyer and demanded reinstatement, offering to work for $1 a year until Better returns to profitability.
- Garg maintains his commitment to the company’s mission of helping people save money and achieve the American Dream, expressing hope for a resolution and a bright future for Better.
