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Sea’s Billionaire CEO Opens Up After 75% Stock Crash

  • Singapore tech giant faces investor pressure for more openness
  • Stock plunge has left shareholders questioning Sea’s strategy
Forrest Li
Forrest LiPhotographer: Wei Leng Tay/Bloomberg
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Last Monday, Sea Ltd. employees were starting their week when an email from Chief Executive Officer Forrest Li arrived. In the 900-word memo, the billionaire adopted a contrite tone, addressing head-on a $150 billion plunge in his company’s value since late 2021.

“This drop is painful, and you might be feeling frustrated, disheartened, or worried about Sea’s future,” the 44-year-old wrote in his email seen by Bloomberg News, sent company-wide the first working day after Sea notched its third-biggest stock decline. “Do not fear: we are in a strong position internally, and we are clear on our next steps. This is short-term pain that we have to endure to truly maximize our long-term potential.”