From your usual suspects to some lesser-known chief executives, here are the tech CEOs that deserve nothing but a lump of coal this Christmas – as well as some leaders that deserve some holiday cheer.
Sam Bankman-Fried
The first CEO who is heading straight for the naughty list this Christmas is Sam Bankman-Fried — or ‘SBF’ for short. However, after a series of shocking events, the MIT graduate’s business empire came crashing down in November. The company’s legitimacy was first put under scrutiny in an article in CoinDesk, which queried the balance sheet of Alameda Research, Bankman-Fried’s hedge fund, and its close ties with FTX. The former CEO was then accused of transferring $10 billion in customer funds to Alameda, and his house of cards truly started falling down. Within hours, $6 billion in funds had been withdrawn from the trading exchange — forcing the company into bankruptcy and wiping 94% of Bankman-Fried’s personal wealth. With around one to two billion dollars of customer funds yet to be located, the entrepreneur isn’t the only victim to lose out financially. Bankman-Fried currently faces a number of charges including defrauding investors and money laundering. He was arrested in the Bahamas on the 12th of December, and while the entrepreneur’s misdoings are still under investigation, it’s safe to say the crypto billionaire’s ‘do-good’ reputation is firmly behind him.
Richard Lui
Commonly regarded as the “Jeff Bezos of China”, Richard Lui Qiangdong is the founder and former CEO of the major Chinese ecommerce firm, JD.com. After expanding JD into what is now the fifth-biggest online retailer in the world and marrying celebrity influencer Zhang Zetian (also known as Sister Milk Tea), Lui became a staple of China’s billionaire class, even securing a place on the 2019 Forbes “China Rich List“. [/vc_column_text][/vc_column][/vc_row] After consistently denying allegations and refusing to testify in the trial, the former CEO settled the case hours before it was due to begin, to “avoid further pain and suffering caused by the lawsuit.” But while settling the case out of court allowed the disgraced businessman to avoid an indictment, he wasn’t able to dodge public scrutiny, with the incident being discussed over 86 million times on the Chinese social media site, Weibo. Due to the reputational damage incurred by the case, alongside a state crackdown on the tech sector in Beijing, Lui stepped back from his CEO position in April of this year. However, this was too late to prevent the controversy from having a seismic impact on the company, with JD.com losing a total of $10 billion of its market value in the three months following the trial.
Elon Musk
Could it really be a naughty list of tech CEOs without featuring the new Twitter chief executive and all-around online troll, Elon Musk? We think not. The SpaceX and Tesla CEO has never been scared of controversy. From referring to a diver involved in the Tham Luang cave rescue as a “pedo guy” in a 2018 Tweet, to promoting the use of chloroquine as a treatment for Covid-19, contention appears to follow Musk wherever he goes. However, after the world’s richest man finally acquired Twitter earlier this year (after a tumultuous back and forth that nearly resulted in him being sued for breaching his own deal) Musk’s bad behavior has appeared to reach new heights.
— Elon Musk (@elonmusk) October 26, 2022 In a move that was probably much funnier in his head, Elon Musk started as he meant to go on by rolling up to Twitter HQ with a kitchen sink, sending a clear message to let his arrival “sink in”. Since this dramatic entrance, Musk has been embroiled in controversy after controversy, including prompting an epidemic of fake accounts after putting the blue tick up for sale, taking a very laissez-faire approach to content moderation, and firing half his workforce to cut costs. But Musk’s tirade didn’t end with layoffs. In one of tech’s biggest HR nightmares to date, Twitter’s remaining workers were locked out of their headquarters this November, after being faced with the ultimatum: work long hours at high intensity or resign without pay. In a recent twist, it looks like Musk could be about to step down as CEO, at least that’s what he’s suggest after almost 10 million Twitter users voted that he should do so. So, whether you view Musk as a meme machine or public enemy number one, it’s safe to say he won’t be getting a visit from Santa this Christmas.
Mark Zuckerburg
Another tech CEO that is no stranger to the naughty list, is the CEO of Meta Platforms (FKA Facebook) and Silicon Valley kingpin, Mark Zuckerburg. Boasting anything but a clean track record, problematic behavior seemed to be traced right back to his Harvard days, when he was caught using Facebook login details to read users’ private details and was overheard making the statement “you can be unethical and still be legal; that’s the way I live my life” by a fellow classmate. Seeming to take heed of his own moto, Zuckerburg also landed in serious hot water in recent years over his company’s involvement in the 2016 Cambridge Analytica scandal as well as his failure to miss vital warning signs preceding the January 6 attack on the Capitol. And unfortunately for Zuck, controversy has followed him into 2022. From being sued left right and center and letting go of 11,000 employees, to relentlessly funneling money into the Metaverse while the social media empire’s value plunges by an eye-watering $700 billion, this year has been anything but jolly for the chief executive. Even his leadership style has faced criticism from publications like Fortune, which claim that he has three of the five traits found in ‘bad bosses’ — including glory-seeking and refusing outside advice. Pretty damming judgment for the former poster boy of Silicon Valley.
Lloyd Blankfein
Last up, we have Lloyd Blankfein, former CEO and current senior chairman of Goldman Sachs. While Goldman Sachs isn’t traditionally a tech company, the investment banking firm claims to be the next big player in fintech, and this is largely thanks to Blankfein himself. The former chief executive hasn’t always deserved to be on Santa’s bad side. Boasting an (unheard-of) 97% approval rating during his time as president in 2010, the New York businessman used to be extremely popular with his employees. However, Blankfein’s positive public image soon came crashing down after the executive was charged for profiting off the 2008 recession, before lying about his company’s involvement under oath. Despite stepping down from his leadership position in 2018, Blankfein’s dirty laundry has been aired once again in 2022. This time, for his involvement with the 1Malaysia Development Berhad (1MDB) scandal, a case where former Goldman Sachs bankers were found guilty of helping a Malaysian businessman launder over $4.5 billion of stolen taxpayer money. And Blankfein wasn’t just guilty by association. Recent findings reveal that he directly liaised with Malaysia’s former President, Najib Razak, to help find his children work in the company. Coming from the man who has also compared banking to “doing gods work”, it’s no wonder why we think he deserves a sack of coal this Christmas.
Which Tech CEOs Are On the Nice List?
Thankfully, it’s not all doom and gloom this holiday season. Here are some CEOs that have been making a positive impact on the tech sector and the wider world this year.
Jack Dorsey
It’s no secret that former Twitter CEO and current chief executive of Block has always been big on philanthropy. From donating a staggering $1 billion to combat the pandemic to funneling $10 million into antiracist research during the BLM protests, Dorsey has a long history of supporting good causes — and 2022 proved to be no different. When he wasn’t busy engaging in Twitter spats with Elon Musk, the tech disruptor donated a total of $7 million to several Ukrainian charities, including ‘World Central Kitchen’, a group serving hot meals to victims of the conflict, and ‘Razom’, a non-profit which provides humanitarian war relief.
Tim Cook
Another tech chief executive who we think deserves good karma this Christmas is Tim Cook. In a time where safeguards around data privacy are at an all-time low, Apple’s current CEO has a refreshing take on digital privacy, claiming that tech users should have greater ownership over their private data. This ethical conscience, alongside his disciplined attitude and philanthropic outlook, has even landed him a place on TIME’s most influential people of 2022. With many tech executives falling by the wayside and prioritizing profits over corporate social responsibility, we think a lot of leaders could take a page from Cook’s book.
title: “Which Tech Ceos Are On The Naughty List This Christmas " ShowToc: true date: “2022-11-15” author: “Patricia Wolford”
From your usual suspects to some lesser-known chief executives, here are the tech CEOs that deserve nothing but a lump of coal this Christmas – as well as some leaders that deserve some holiday cheer.
Sam Bankman-Fried
The first CEO who is heading straight for the naughty list this Christmas is Sam Bankman-Fried — or ‘SBF’ for short. However, after a series of shocking events, the MIT graduate’s business empire came crashing down in November. The company’s legitimacy was first put under scrutiny in an article in CoinDesk, which queried the balance sheet of Alameda Research, Bankman-Fried’s hedge fund, and its close ties with FTX. The former CEO was then accused of transferring $10 billion in customer funds to Alameda, and his house of cards truly started falling down. Within hours, $6 billion in funds had been withdrawn from the trading exchange — forcing the company into bankruptcy and wiping 94% of Bankman-Fried’s personal wealth. With around one to two billion dollars of customer funds yet to be located, the entrepreneur isn’t the only victim to lose out financially. Bankman-Fried currently faces a number of charges including defrauding investors and money laundering. He was arrested in the Bahamas on the 12th of December, and while the entrepreneur’s misdoings are still under investigation, it’s safe to say the crypto billionaire’s ‘do-good’ reputation is firmly behind him.
Richard Lui
Commonly regarded as the “Jeff Bezos of China”, Richard Lui Qiangdong is the founder and former CEO of the major Chinese ecommerce firm, JD.com. After expanding JD into what is now the fifth-biggest online retailer in the world and marrying celebrity influencer Zhang Zetian (also known as Sister Milk Tea), Lui became a staple of China’s billionaire class, even securing a place on the 2019 Forbes “China Rich List“. [/vc_column_text][/vc_column][/vc_row] After consistently denying allegations and refusing to testify in the trial, the former CEO settled the case hours before it was due to begin, to “avoid further pain and suffering caused by the lawsuit.” But while settling the case out of court allowed the disgraced businessman to avoid an indictment, he wasn’t able to dodge public scrutiny, with the incident being discussed over 86 million times on the Chinese social media site, Weibo. Due to the reputational damage incurred by the case, alongside a state crackdown on the tech sector in Beijing, Lui stepped back from his CEO position in April of this year. However, this was too late to prevent the controversy from having a seismic impact on the company, with JD.com losing a total of $10 billion of its market value in the three months following the trial.
Elon Musk
Could it really be a naughty list of tech CEOs without featuring the new Twitter chief executive and all-around online troll, Elon Musk? We think not. The SpaceX and Tesla CEO has never been scared of controversy. From referring to a diver involved in the Tham Luang cave rescue as a “pedo guy” in a 2018 Tweet, to promoting the use of chloroquine as a treatment for Covid-19, contention appears to follow Musk wherever he goes. However, after the world’s richest man finally acquired Twitter earlier this year (after a tumultuous back and forth that nearly resulted in him being sued for breaching his own deal) Musk’s bad behavior has appeared to reach new heights.
— Elon Musk (@elonmusk) October 26, 2022 In a move that was probably much funnier in his head, Elon Musk started as he meant to go on by rolling up to Twitter HQ with a kitchen sink, sending a clear message to let his arrival “sink in”. Since this dramatic entrance, Musk has been embroiled in controversy after controversy, including prompting an epidemic of fake accounts after putting the blue tick up for sale, taking a very laissez-faire approach to content moderation, and firing half his workforce to cut costs. But Musk’s tirade didn’t end with layoffs. In one of tech’s biggest HR nightmares to date, Twitter’s remaining workers were locked out of their headquarters this November, after being faced with the ultimatum: work long hours at high intensity or resign without pay. In a recent twist, it looks like Musk could be about to step down as CEO, at least that’s what he’s suggest after almost 10 million Twitter users voted that he should do so. So, whether you view Musk as a meme machine or public enemy number one, it’s safe to say he won’t be getting a visit from Santa this Christmas.
Mark Zuckerburg
Another tech CEO that is no stranger to the naughty list, is the CEO of Meta Platforms (FKA Facebook) and Silicon Valley kingpin, Mark Zuckerburg. Boasting anything but a clean track record, problematic behavior seemed to be traced right back to his Harvard days, when he was caught using Facebook login details to read users’ private details and was overheard making the statement “you can be unethical and still be legal; that’s the way I live my life” by a fellow classmate. Seeming to take heed of his own moto, Zuckerburg also landed in serious hot water in recent years over his company’s involvement in the 2016 Cambridge Analytica scandal as well as his failure to miss vital warning signs preceding the January 6 attack on the Capitol. And unfortunately for Zuck, controversy has followed him into 2022. From being sued left right and center and letting go of 11,000 employees, to relentlessly funneling money into the Metaverse while the social media empire’s value plunges by an eye-watering $700 billion, this year has been anything but jolly for the chief executive. Even his leadership style has faced criticism from publications like Fortune, which claim that he has three of the five traits found in ‘bad bosses’ — including glory-seeking and refusing outside advice. Pretty damming judgment for the former poster boy of Silicon Valley.
Lloyd Blankfein
Last up, we have Lloyd Blankfein, former CEO and current senior chairman of Goldman Sachs. While Goldman Sachs isn’t traditionally a tech company, the investment banking firm claims to be the next big player in fintech, and this is largely thanks to Blankfein himself. The former chief executive hasn’t always deserved to be on Santa’s bad side. Boasting an (unheard-of) 97% approval rating during his time as president in 2010, the New York businessman used to be extremely popular with his employees. However, Blankfein’s positive public image soon came crashing down after the executive was charged for profiting off the 2008 recession, before lying about his company’s involvement under oath. Despite stepping down from his leadership position in 2018, Blankfein’s dirty laundry has been aired once again in 2022. This time, for his involvement with the 1Malaysia Development Berhad (1MDB) scandal, a case where former Goldman Sachs bankers were found guilty of helping a Malaysian businessman launder over $4.5 billion of stolen taxpayer money. And Blankfein wasn’t just guilty by association. Recent findings reveal that he directly liaised with Malaysia’s former President, Najib Razak, to help find his children work in the company. Coming from the man who has also compared banking to “doing gods work”, it’s no wonder why we think he deserves a sack of coal this Christmas.
Which Tech CEOs Are On the Nice List?
Thankfully, it’s not all doom and gloom this holiday season. Here are some CEOs that have been making a positive impact on the tech sector and the wider world this year.
Jack Dorsey
It’s no secret that former Twitter CEO and current chief executive of Block has always been big on philanthropy. From donating a staggering $1 billion to combat the pandemic to funneling $10 million into antiracist research during the BLM protests, Dorsey has a long history of supporting good causes — and 2022 proved to be no different. When he wasn’t busy engaging in Twitter spats with Elon Musk, the tech disruptor donated a total of $7 million to several Ukrainian charities, including ‘World Central Kitchen’, a group serving hot meals to victims of the conflict, and ‘Razom’, a non-profit which provides humanitarian war relief.
Tim Cook
Another tech chief executive who we think deserves good karma this Christmas is Tim Cook. In a time where safeguards around data privacy are at an all-time low, Apple’s current CEO has a refreshing take on digital privacy, claiming that tech users should have greater ownership over their private data. This ethical conscience, alongside his disciplined attitude and philanthropic outlook, has even landed him a place on TIME’s most influential people of 2022. With many tech executives falling by the wayside and prioritizing profits over corporate social responsibility, we think a lot of leaders could take a page from Cook’s book.
