What is Vishal Garg’s net worth?

VISHAL Garg is the CEO of Better.com, a direct lender providing online mortgage financing to homeowners.

On Wednesday, December 1, 2021, Garg reportedly laid off hundreds of employees via a Zoom call.

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Vishal Garg is the Founder and CEO of Better.com

What is Vishal Garg’s net worth?

While an exact record of Vishal GargBetter.com’s financial situation is not publicly available, Better.com CEO is estimated to have a net worth of at least $ 1 billion.

According to The daily beastGarg received a $ 25 million cash bonus for the holidays in 2020.

The Daily news sensor has Garg’s estimated net worth of around $ 4 billion, while The Better Company itself is estimated to be around $ 7.7 billion.

In November 2020, Garg reportedly invested $ 10 million in AlphaFlow, a real estate debt investment platform.

The Daily Beast also reported that Better received $ 750 million in cash as part of a deal to go public in May 2021, including $ 500 million from SoftBank.

What happened with Vishal Garg on Zoom?

On Wednesday December 1, 2021, Vishal Garg reportedly laid off more than 900 employees during a Zoom call.

According to CNN, about nine percent of Better.com’s workforce was laid off just before the holidays.

“If you’re on this call, you’re part of the unlucky group that’s being fired,” Garg said on the call, which has since gone viral.

“Your employment here is terminated with immediate effect. “

The Diversity, Equity and Inclusion recruiting team were said to have been among those fired.

“Having to go through layoffs is heartbreaking, especially at this time of year,” Better.com CFO Kevin Ryan said in a statement to CNN.

“However, a stronghold record and a small, concentrated workforce have put us together to go on the offensive by entering a rapidly changing home ownership market.”

This isn’t the first time Garg has faced controversy with his employees. In a 2020 email obtained by Forbes, Garg calls his staff “silly dolphins.”

“You’re TOO D ** N SLOW. You’re a bunch of DUMB DOLPHINS… SO STOP HIM. STOP HIM. STOP HIM NOW. YOU EMBLEM,” he wrote.

Who is Vishal Garg?

Born in India and raised in New York City, Vishal Garg graduated from Stuyvesant High School.

After graduating from New York University, Garg founded MyRichUncle, an online student lender.

He also became a co-founder of One Zero Capital, “an investment holding company focused on building and investing in businesses at the convergence of consumer credit, technology and digital marketing,” according to his LinkedIn profile.

In January 2014, Garg launched Better.com, of which he has been CEO.

Vishal Garg went viral after laying off more than 900 employees in a Zoom call

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Vishal Garg went viral after laying off more than 900 employees in a Zoom callCredit: YouTube

What is Better.com?

Better.com is a fully online mortgage company with rates, loan pre-approvals, and resources available anytime.

With a plethora of mortgage options available, users typically receive pre-approval within minutes and are often able to close a mortgage in as little as three weeks.

Better.com, the fastest growing homeownership company in the United States, has grown over 400% since 2020.

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