Forrest Li, the 44-year-old secretive billionaire CEO of Singapore-based technology firm Sea Ltd, which owns e-commerce platform Shopee, mobile game Garena Free Fire among other businesses, wrote a 900-word memo to his employees. The memo addressed a $150-billion plunge in his company's value since late 2021. He wrote, "This drop is painful...Do not fear: We're in a strong position internally."