Saylor steps down as CEO of Tysons tech company MicroStrategy

[mahatmakanejeeves]

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Saylor steps down as CEO of Tysons tech company MicroStrategy

Jeff Clabaugh | [e-mail]

August 3, 2022, 11:38 AM

Michael Saylor, who cofounded business intelligence software company MicroStrategy in 1989, will step down as the company’s chief executive Aug. 8 to focus on increasing the company’s bitcoin investments.

MicroStrategy President Phong Le will become CEO. Saylor will become executive chairman.

MicroStrategy is one of the biggest holders of bitcoin in the world. The company also just reported a $1 billion second-quarter loss on the recent plunge in the prices of cryptocurrencies.

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Jeff Clabaugh
Jeff Clabaugh has spent 20 years covering the Washington region's economy and financial markets for WTOP as part of a partnership with the Washington Business Journal, and officially joined the WTOP newsroom staff in January 2016.

[e-mail]
@wtopclabaugh

[Casady1]

1. kind of a big deal

in the business intelligence and the cube world. Microstrategy was like a cult.

[Yonnie3]

2. I've met Saylor several times.

I did technical support for live music on his yachts and at some parties. I modified amplifiers to work on European power on his boats. I doubt he'd recall me.