Free Fire owner: find out why executive is not receiving salary

In addition to the closure of Shopee's activities in several countries, BOOYAH, the streamer platform should be closed soon

25 de September de 2022 Ronny Rolim

Without a doubt, one of the most downloaded games and which has one of the largest communities currently in Brazil is Free Fire , the game has taken over all the cell phones of young people around the country and currently there are very few people who don't know what it is. this Battle Royale , however, what few people know and know is its owner Forrest Li , who was responsible for creating the game for smartphones and who is currently a billionaire .

Aged 45 years old, born in China and currently living in Singapore, Forrest Li is not only the owner of Free Fire and Garena , he is also the head of several other companies, with Shopee , an e-commerce platform, being one of the best known of its kind. great empire.

Now, the owner of Free Fire is going through a difficult situation and has promised to stay without a salary until the financial results of his companies return to the expected numbers.

Free Fire owner is not receiving a salary

Forrest Li is the owner of Free Fire and Shopee

Shopee, Garena 's sister company, is in crisis, and its founder, billionaire Forrest Li , has promised not to receive a salary until the company improves . According to information obtained by Bloomberg , the executive said in an internal statement that he will remain without compensation until the company becomes self-sufficient and emerges from the current abysmal stage, which has led to layoffs and restructuring.

Surprisingly, no company leader will receive salaries in the next few months until Shopee achieves positive cash flow:

Leadership has decided that we will not receive any cash compensation until the company achieves self-sufficiency. We can now see that this is not a storm that passes quickly: these negative conditions are likely to persist in the medium term.

While both Free Fire and Shopee are doing well in Brazil, the e-commerce platform recently closed down in four Latin American countries: Argentina, Chile, Colombia and Mexico . The change is a result of the latest financial report, which reported a loss of $931.2 million in the second quarter of 2022.

In fact, the owner of Free Fire has reason to be concerned. In addition to the closure of Shopee's activities in several countries, BOOYAH, the streaming platform, should be closed soon . Recently, Garena promoted a mass dismissal of several workers linked to BOOYAH, but has not yet officially announced the end of the platform.

Finally, the entrepreneur tried to calm users down by saying that Shopee has a “solid cash base”, something that puts it “in a safe position”. Even so, he warns that this base can easily be extinguished "if we're not careful."