_ceo-larry-culp39s-overhaul-of-ge-will-make-him-a-billionaire.jpg "CEO Larry Culp's Overhaul Of GE Will Make Him A Billionaire from stay on pageimal ge Video Screenshot Preview")
GalleryPlay Video:
(Note: The default playback of the video is HD VERSION. If your browser is buffering the video slowly, please play the REGULAR MP4 VERSION or Open The Video below for better experience. Thank you!)
⏲ Duration: 5:18
👁 View: 9.3M times
✓ Published: 02-Apr-2024
👁 View: 9.3M times
✓ Published: 02-Apr-2024
Description:
When Larry Culp stepped into the CEO role at General Electric in 2018, he was the first outsider to lead the iconic company. Founded by Thomas Edison in 1892, GE had morphed over more than a century into a sprawling conglomerate that was struggling under $135 billion in debt.<br/><br/>One of Culp’s predecessors had made a costly acquisition bet, investors had fled, and the company’s market cap had shrunk to $70 billion, down more than half a trillion dollars from August 2000, when it was the most valuable company in the world. Culp turned GE’s board down twice before accepting the CEO job, but ultimately extracted a multimillion-share incentive package linked to GE’s share price. At the time, CNBC’s Jim Cramer said it was “the best performance-oriented contract I’ve ever seen.”<br/><br/>Spoiler alert: It paid off.<br/><br/>Read the full story on Forbes: https://www.forbes.com/sites/sarahwhitmire/2024/03/31/general-electric-ceo-larry-culp-to-join-small-club-of-billionaire-executives/?sh=7902b57d449b<br/><br/>Subscribe to FORBES: https://www.youtube.com/user/Forbes?sub_confirmation=1<br/><br/>Fuel your success with Forbes. Gain unlimited access to premium journalism, including breaking news, groundbreaking in-depth reported stories, daily digests and more. Plus, members get a front-row seat at members-only events with leading thinkers and doers, access to premium video that can help you get ahead, an ad-light experience, early access to select products including NFT drops and more:<br/><br/>https://account.forbes.com/membership/?utm_source=youtube&utm_medium=display&utm_campaign=growth_non-sub_paid_subscribe_ytdescript<br/><br/>Stay Connected<br/>Forbes newsletters: https://newsletters.editorial.forbes.com<br/>Forbes on Facebook: http://fb.com/forbes<br/>Forbes Video on Twitter: http://www.twitter.com/forbes<br/>Forbes Video on Instagram: http://instagram.com/forbes<br/>More From Forbes:http://forbes.com<br/><br/>Forbes covers the intersection of entrepreneurship, wealth, technology, business and lifestyle with a focus on people and success.
When Larry Culp stepped into the CEO role at General Electric in 2018, he was the first outsider to lead the iconic company. Founded by Thomas Edison in 1892, GE had morphed over more than a century into a sprawling conglomerate that was struggling under $135 billion in debt.<br/><br/>One of Culp’s predecessors had made a costly acquisition bet, investors had fled, and the company’s market cap had shrunk to $70 billion, down more than half a trillion dollars from August 2000, when it was the most valuable company in the world. Culp turned GE’s board down twice before accepting the CEO job, but ultimately extracted a multimillion-share incentive package linked to GE’s share price. At the time, CNBC’s Jim Cramer said it was “the best performance-oriented contract I’ve ever seen.”<br/><br/>Spoiler alert: It paid off.<br/><br/>Read the full story on Forbes: https://www.forbes.com/sites/sarahwhitmire/2024/03/31/general-electric-ceo-larry-culp-to-join-small-club-of-billionaire-executives/?sh=7902b57d449b<br/><br/>Subscribe to FORBES: https://www.youtube.com/user/Forbes?sub_confirmation=1<br/><br/>Fuel your success with Forbes. Gain unlimited access to premium journalism, including breaking news, groundbreaking in-depth reported stories, daily digests and more. Plus, members get a front-row seat at members-only events with leading thinkers and doers, access to premium video that can help you get ahead, an ad-light experience, early access to select products including NFT drops and more:<br/><br/>https://account.forbes.com/membership/?utm_source=youtube&utm_medium=display&utm_campaign=growth_non-sub_paid_subscribe_ytdescript<br/><br/>Stay Connected<br/>Forbes newsletters: https://newsletters.editorial.forbes.com<br/>Forbes on Facebook: http://fb.com/forbes<br/>Forbes Video on Twitter: http://www.twitter.com/forbes<br/>Forbes Video on Instagram: http://instagram.com/forbes<br/>More From Forbes:http://forbes.com<br/><br/>Forbes covers the intersection of entrepreneurship, wealth, technology, business and lifestyle with a focus on people and success.
Share with your friends:
Whatsapp | Viber | Telegram | Line | SMS
Email | Twitter | Reddit | Tumblr | Pinterest
Related Videos
_how-to-move-pictures-in-microsoft-word-tutorial.webp "Helpful DIY")
_ge-aerospace-spins-off-as-standalone-company-expects-billions-in-profits-and-job-growth.webp "GE Aerospace, formerly GE Aviation, has spun off as a separate company based in Evendale, Ohio. The spinoff is part of General Electric's breakup of its industrial conglomerate into multiple standalone businesses. GE Aerospace expects over $6 billion in annual profits, growing to as much as $10 billion by 2028. The company is investing over $100 million in its Evendale plant, employing around 9,000 local workers. The UAW local president welcomed the opportunities for expanded employment and manufacturing at the Evendale site.")
⏲ 0:48 👁 8.5M
_learn-how-to-use-mac-pages-in-5-minutes.webp "macmostvideo")
_13-ways-to-make-images-stand-out-in-pages-documents.webp "macmostvideo")
_coreweaves-brannin-mcbee-on-the-future-of-ai-infrastructure-gpu-economics-amp-data-centers-124-e1925.webp "This Week in Startups")
⏲ 55 minutes 57 seconds 👁 504
_39he39s-a-damn-fool39-marjorie-taylor-greene-slams-mike-johnson-over-ukraine.webp "CNN")
⏲ 9 minutes 30 seconds 👁 175.8K
_will-christopher-morel-stay-at-third-base.webp "Will Christopher Morel stay at third base? from stay on pageimal ge")
_one-of-the-best-color-ways-in-a-while-keep-your-eyes-peeled-because-these-are-popping-up-soon.webp "Jay The Sneaker Guy")
⏲ 10 minutes 3 seconds 👁 7.5K
_how-to-move-pictures-in-microsoft-word-tutorial.jpg)
_ge-aerospace-spins-off-as-standalone-company-expects-billions-in-profits-and-job-growth.jpg)
_learn-how-to-use-mac-pages-in-5-minutes.jpg)
_13-ways-to-make-images-stand-out-in-pages-documents.jpg)
_coreweaves-brannin-mcbee-on-the-future-of-ai-infrastructure-gpu-economics-amp-data-centers-124-e1925.jpg)
_39he39s-a-damn-fool39-marjorie-taylor-greene-slams-mike-johnson-over-ukraine.jpg)
_will-christopher-morel-stay-at-third-base.jpg)
_one-of-the-best-color-ways-in-a-while-keep-your-eyes-peeled-because-these-are-popping-up-soon.jpg)
![[+]](/images/menu.gif){kind=small}