Zoom founder Eric Yuan transferred 18 million shares of the company, about 40 percent of his shares last week. This means shares worth more than $ 6 billion. During the pandemic, an increasing number of students and professionals increased the fortune of the Zoom founder.
Yuan launched Zoom in 2011 and listed it on the US stock market in 2019, making it a billionaire. He currently has a fortune worth $ 13.7 billion, according to Forbes.
Zoom’s stock has almost tripled in the last 12 months, and the company’s market capitalization has reached nearly $ 100 billion. In Zoom’s annual results last week, Zoom executives said they expect strong growth to continue this year as well.
The video conferencing company expects sales to rise by more than 40 percent this year to over $ 3.7 billion. However, Zoom said he does not expect growth to continue at the pace it has achieved last year.
Yuan was named 2020 Time Businessman of the Year and was included in the list of 100 most influential people.