He is the boss of Mr Krabs. He is a jerk for a boss though. Any money Mr Krabs makes, he gets 5/6 of it. However, this changed like crazy. After Mr Krabs bragged, he changed it to 6/7. After Mr Krabs asked why, he changed it to 7/8. After Stevegee left without paying, Moar Krabs changed it to 8/9.
He ended up finding out that the Corona-Virus gets in Krabby Patties, so he got Meegee to help him solve this problem. He's so greedy, he made a tournament for the Trolliverse, just so he can get money. He didn't care about the action.