Could a billionaire be fired from his own company?

Say an executive started his own company and owned 90% of the stock, could he still be fired? Could he (or she) go broke?

10 Answers

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  • East
    Lv 4
    2 months ago

    The board should be able to approve who can serve as an officer, and if the investor doesn't pick a majority of directors, then the board could fire him/her.  It depends on how the investors had negotiated the terms of their investment: how many board seats and what approval rights did they get?

    Usually if someone holds 90% of the stock then s/he would control the board, and s/he could fire directors who tried to fire him/her as CEO.  So it's unlikely that someone who controlled 90% of the stock could be fired.  

  • Anonymous
    2 months ago

    If he wasn't the majority stock holder, then yes.

  • 2 months ago

    Anyone can go broke. Even a CEO who owns 90% of the company. If someone DOES own that much, they can't be fired--because in most companies, it's a board of directors who own the right to hire and fire--but it really depends on the company. They can and have fired CEOs from many major corporations. 

  • Judy
    Lv 7
    2 months ago

    If he owns 90%, no, he'd have the majority vote.  But could go broke.

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  • Bill
    Lv 6
    2 months ago

    Anybody can go broke.  Harry Gordon Selfridge went broke.  The Hunt brothers in Texas went broke.  

  • 2 months ago

    They can be forced out.

  • 2 months ago

    Someone who owns 90% would control who gets fired and who doesn't and therefore couldn't get fired.  But founders do occasionally get fired from companies where they own under 50%.

  • Anonymous
    2 months ago

    You really need to stop with the stupid questions.  50.01% voting control guarantees they are not getting fired. For practical purposes, even 30% would be very hard to force out.  Because the other side would need 50.01%.

  • 28AKO
    Lv 5
    2 months ago

    Anyone can go broke from mismanagement of their funds or someone else funds

  • Rick
    Lv 7
    2 months ago

    not if he owned a majority of the voting stock ...............................

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