Let his family and company members know how the company can enter a formal profit state, make them profitable, and let them know his incompetence and your Excellence.
(2) Use his family, people close to him and people around him to constantly put pressure on him and instill in him from time to time what he will pay and what his family will pay if the company collapses.
If there is no hope, let him continue to live his happy life. You help him make money and let him squander it. When he depends on you, that is, when you control him.
Learn to kiss up to such people. When you shoot the horse down, it's when you get on it.