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March 16, 2023 | 7:49 PM
The former CEO of Silicon Valley Bank, who was at the helm of financial intuition when it collapsed, was spotted in Hawaii on Wednesday as his former colleagues scramble to pick up the pieces.
Greg Becker and wife Marilyn Bautista fled to their $3.1 million Maui mansion just days after Becker, who had been CEO of SVB since 2011, left the company, photos courtesy of the Daily Mail show.
Despite his change in employment status, Becker didn’t appear to be concerned about cash as the couple enjoyed a chauffeured limousine ride to San Francisco Airport and first-class tickets to their island paradise on Monday, the outlet reported.
The former boss wore shorts and flip flops while walking through Lahaina, where his custom-designed, two-story home sits in a gated community equipped with a tennis court, three surf breaks, three swimming pools and a clubhouse.
Becker at one point hid in the car while Bautista picked up their lunch from Cheeseburger in Paradise.
Becker has been heavily criticized for his handling of the bank’s demise and is even being investigated by the Justice Department for selling shares just before the SVB went under.
Follow The Post’s coverage of the collapse of Silicon Valley Bank
The ex-CEO cashed in 12,500 shares for nearly $3.5 million just two weeks before the company went under.
He and CFO Daniel Beck are also being sued by SVB shareholders for allegedly hiding the fact that rising interest rates made the company “particularly susceptible” to a bank run.
The collapse of the SVB last week caused widespread panic that other banks could follow suit.
On Thursday, Goldman Sachs raised its probability of the US economy going into recession in the next 12 months by 10 percentage points to 35%, citing stress on small banks.
However, Treasury Secretary Janet Yellen assured lawmakers that the US banking system is in a stable state.
“I can reassure the members of the committee that our banking system remains healthy and that Americans can be confident that their deposits will be there when they need them,” Yellen said Thursday.
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