Forrest Li, once SG’s richest man, to forego salary; outlines Shopee’s cost-cutting measures including business travel via economy class and cheapest local ride services - The Independent Singapore News

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In addition to limiting business travel expenses, he wrote that neither he nor top-level management will be receiving their salaries until the goal is achieved.

“The leadership team has decided that we will not take any cash compensation until the company achieves self-sufficiency,” he wrote in a 1000-word memo that was published in full in Business Insider on Wednesday .

He added that “this is not a quickly passing storm: these negative conditions will likely persist into the medium term.”

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