Vishal Garg Fights to Regain Control of Better

Indian-American entrepreneur Vishal Garg, who drew global attention in 2021 after laying off about 900 Better.com employees during a Zoom call, is now at the centre of a high-stakes battle over control of Better Home & Finance.

Garg was removed as chief executive on August 3, 2026, with investor and board member Daniel Lewis taking over as interim CEO. The leadership change has since escalated into a dispute involving Garg, the board and shareholders over the future direction of the digital mortgage company.

Garg Seeks a Return to the Top Job

Following his removal, Garg has publicly challenged the board’s decision and is seeking to regain an executive leadership role. He has argued that the company was approaching a turnaround and has claimed support from a majority shareholder bloc for changes to the board.

Reports indicate that dissident shareholders aligned with Garg are seeking the removal of Lewis and several directors, potentially setting up a shareholder vote over the company’s leadership.

Board Defends Decision to Remove Founder

Better’s board has pushed back strongly. In a public statement, the company said every director other than Garg voted to terminate him after developing concerns about his judgment, temperament and credibility.

The board also pointed to the company’s financial performance, including substantial cumulative losses in recent years, and raised allegations concerning Garg’s handling of a delayed quarterly filing and communications that its advisers said could raise securities-law issues.

Garg and people close to him have disputed key elements of the board’s account, including claims surrounding the delayed filing and any suggestion of securities-law violations. No final legal determination on those allegations is established by the reports cited.

From Pandemic-Era Boom to Sharp Valuation Decline

Better expanded rapidly during the pandemic-era refinancing boom, when exceptionally low mortgage rates helped drive demand. The company was once valued at several billion dollars, but its fortunes changed as mortgage rates rose and refinancing activity contracted.

Better eventually went public through a SPAC merger in 2023. Its shares subsequently suffered a steep decline, while the company undertook major workforce reductions and attempted to reshape its business.

The 2021 Zoom Layoff That Made Global Headlines

Garg became internationally known in December 2021 after informing roughly 900 employees during a brief Zoom meeting that their employment was being terminated. The manner of the layoffs drew widespread criticism.

He later apologised for how the dismissals were handled and temporarily stepped away from day-to-day leadership before returning to the CEO role.

A Battle Over Better’s Future

The latest dispute has turned Better’s leadership transition into a broader governance struggle. Garg’s allies are seeking board changes, while the existing board is urging shareholders not to support efforts that would restore his influence.

The outcome could determine not only who leads Better but also the strategy pursued the mortgage technology company as it attempts to improve its financial position in a difficult housing and lending market.

Key Points

•   Vishal Garg was removed as Better Home & Finance CEO on August 3, 2026.
•   Daniel Lewis was appointed interim chief executive.
•   Garg is seeking to regain influence and has claimed majority shareholder support for board changes.
•   Better’s board says directors other than Garg unanimously supported his termination.
•   The two sides dispute aspects of the circumstances surrounding Garg’s removal and the company’s delayed quarterly filing.
•   Garg became widely known after laying off roughly 900 employees over Zoom in December 2021.

Editorial note: This is an ongoing corporate governance dispute. Claims made by Better’s board, Garg and shareholder groups are attributed to the respective parties and should not be treated as established findings unless independently confirmed.

Sources: CNN reporting, Better Home & Finance corporate statements, and other current reporting published in August 2026. Rewritten and restructured for publication.