Former Silicon Valley Bank CEO retreats to $3.1M Hawaiian home amidst controversy.

1 min read
Source: Daily Mail
Former Silicon Valley Bank CEO retreats to $3.1M Hawaiian home amidst controversy.
Photo: Daily Mail
TL;DR Summary

Ousted CEO of Silicon Valley Bank, Gregory Becker, has fled to his $3.1 million Hawaiian townhouse after the bank's collapse, leaving customers worried about accessing their funds. The Justice Department is investigating Becker's decision to cash out $3.57 million of stock just weeks before the bank folded. Becker and his wife are holed up in their spacious oceanfront townhome in Maui, where they were seen walking through the streets of Lahaina in shorts and flip flops. The collapse of Silicon Valley Bank on Friday caused turmoil in the financial markets, and analysts remain fearful of the episode causing another financial crisis and even a recession.

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