silicon valley bank crisis, story of SVB bank ruin: the man whose one lie drowned America’s strong bank, worldwide outcry – ceo greg becker the man behind svb crisis, how this america bank shut down

New Delhi: America’s big bank Silicon Valley has gone bankrupt. Bank of America is drowned, but the discussion is happening all over the world. The bank about which most of the people did not even know till a week ago, today there is hue and cry about it. The closure of this bank has not only worsened the condition of American’s banking sector, but the danger of recession is looming all over the world. The condition of this big bank has become such that the regulator had to shut it down. This storm in the American banking sector is bound to affect India as well. In such a situation, it is also necessary to know about the person who was in charge of this bank.

Greg Baker’s troubles increased

The pain of the sinking of Silicon Valley Bank had not yet subsided that the CEO of the company, Greg Becker, got another big blow. The company’s stockholders have filed a lawsuit against SVB Financial Group, the parent of Silicon Valley Bank, and its CEO, Greg Baker. He has been accused of hiding information, details related to the bank’s wealth from shareholders and customers. He has been accused of defrauding the shareholders. He is alleged to have sold shares worth $3.6 million just before the bank went bankrupt. Greg Baker is facing allegations that his bank was locked down because of his bad decisions and his mistake.

Baker gave assurance in 24 hours

In 1993, Greg Baker took over the command of SVB. CVB Bank was previously run by Baker during the dotcom bubble. In 2011, he was made the CEO of CVB Financial Group. Regarding the Silicon Valley crisis, he said 24 hours ago that everything is fine. People’s money is safe, but after 24 hours the situation completely reversed. In January too, Baker had assured that the condition of the bank was fine and people need not panic. Now he is being accused of hiding information. Not only the customers and investors, but the bank’s employees are also angry with Greg’s decisions.

who are the breakers

Greg was born in 1971 in America. He earned his graduation degree from Indiana University. Talking about Greg’s career, in the year 1993, he joined CVB Bank as a banker. He was appointed COO in May 1993. In 2008, he was made the president of Silicon Valley Bank and Silicon Financial Group. In 2011, he was appointed as the CEO of Silicon Valley Bank and SVB. Baker is fond of cycling, reading books. If we look at the net worth, then according to February 27, 2023, Greg Baker’s net worth is $ 382 million. In 19 years, Baker has sold $25,356,607 worth of SIVBP shares. While he still holds 12,451 shares, which is worth about $2,118,961. As President, Baker earns $10,677,500.