Let’s find out “Why Did Gustavo Arnal Jump From 18th Floor of Tribeca Building?” The person who leaped off the Tribeca skyscraper in Manhattan on Friday has been identified as Gustavo Arnal. His wife and kids have not expressed their opinions in the media.
On Friday, September 2, calls were received about a guy who had leapt from the 18th floor of the renowned Tribeca skyscraper.
Gustavo Arnal, 52, the CFO of Bed Bath & Beyond, was revealed to be the guy early on Sunday morning. Police sources verified that the CFO had fallen from the 18th storey of the structure.
The revelation comes as a shock and comes after a string of unfortunate events for a once-powerful firm. Due to a decline in revenue, Bed Bath & Beyond’s CEO was only fired in June.
The company was further looking to sack off its employees and was closing 150 of its stores. And with this news, the shares of the company plunged sharply leaving it at only $9.36.
Arnal joined the company in 2020 and had previously worked in many major companies such as Avon and Walgreens.
Why Did Gustavo Arnal Jump From 18th Floor of Tribeca Building?
On September 2, 2022, Gustavo Arnal decided to end his life as he jumped to his death from the new Tribeca Building. Arnal plunges from the 18th floor of the apartment purposely designed misaligned apartment.
On August 16, 2022, Arnal sold 42,513 shares of his company stock for $1 million as reported by MarketBeats.com.
The company Bed Bath & Beyond had been facing a turbulent start to the year.
With its CEO Mark Tritton fired in June as the sales plunged 25% in the first quarter and the company closing down 150 of its stores, it looked like Gustavo Arnal’s job was on the line.
Many people are bewildered by Gustavo’s actions. His company might have been at loss but the man himself was a multi-millionaire. Some have mentioned that Gustavo might have been in debt up to the ears which prompted to take him action.
Others have hinted that it could be personal life woes that made the CFO jump off the building.
Who Is Gustavo Arnal? Wikipedia
Gustavo Arnal was the Executive Vice President and CFO at Bed Bath & Beyond. Gustavo had actively worked in the position of CFO for many top companies in the past decade including Procter and Gamble and Avon.
Gustavo graduated from the Metropolitan University in 1997 with a master’s degree in Finance. He further challenged himself and succeeded in completing his higher degree from The Wharton School of the University of Pennsylvania.
Gustavo was currently working for the company Bed Bath & Beyond since 2020. When Gustavo was hired in April 2020, the company spokesman said that they were bringing one of the best people for the job.
The spokesman further stated that with Gustavo’s 20 years of experience and expertise in the field the company could rebuild its brand under him.
Arnal and his deep knowledge in the field of the retail and consumer goods space were admired by the company which led them to hire him in the first place.
Though hired with lots of promises by Bed Bath & Beyond Gustavo failed to live up to his reputation and jumped to his death from the Tribeca skyscraper.
The company was making losses and was cutting its cost and was struggling due to high inflation and a sagging economy. The company had announced to close 150 stores and lay off 20% of its staff.
Gustavo Arnal’s Age
At the time of his death on September 2, 2022, Gustavo Arnal was 52. A man who had completed his undergraduate degree in Mechanical Engineering from Simon Bolivar University seemingly decided to pursue his path in the finance sector.
With the company facing a turbulent time it was no doubt that Gustavo faced a lot of scrutiny for his work and was brought in 2020 to change the outlook of the company.
In his 20 years of career, this was the first time Arnal was going through a situation where he was helpless. Before working at Bed Bath & Beyond, Gustavo had done a fabulous job at the beauty company Avon.
The billion-dollar company hired Gustavo in 2018 and experienced good growth under him before he moved on for bigger opportunities at Bed Bath & Beyond.
Who Is Gustavo Arnal’s Wife?
Gustavo Arnal’s wife has decided not to speak to the media regarding the topic of her husband’s death. It is known that Gustavo and his wife are parents to children but have always kept their personal lives away from the media.
It’s believed that Gustavo and his wife lived in their New York apartment.
Many have speculated that his wife might have known the problem her husband was going through before he decided to take his own life.
It is hard to imagine what Gustavo felt during his last days at this job as he was completely alone and was probably waiting for the sacking.
As a man who was used to living in luxury, Gustavo probably thought he would not be able to afford his opulent lifestyle, which made him to take such a rash decision.
What Is Gustavo Arnal’s Net Worth?
As of writing, Gustavo Arnal’s had a net worth of about $6.05 million. With 20 years of experience in the finance world and working for some of the biggest companies at the highest position, it was without no doubt that Gustavo Arnal’s net worth is in the millions.
Gustavo owned over 55,013 units of Bed Bath & Beyond and over the last three years had sold his share for over a million dollars.
In addition, Arnal earned a salary of $1.9 million as the executive vice president and CFO at Bed Bath & Beyond.
In 2021 he made a salary of more than $2.9 million including $775,000 in salary and the rest in stock.
