Zoom Founder Eric Yuan’s Net Worth Surges Amid COVID-19 Pandemic, Report Says

Since the world shouldn’t be but over the COVID-19 pandemic, many individuals are nonetheless staying of their properties. But human communication did not need to cease with self-isolation, as individuals started to work, examine and even watch films collectively on Zoom video calls.

The founder and everlasting CEO of Zoom Video Communications, the corporate chargeable for making a videotelephony software the entire world now makes use of, Eric Yuan, has made it to the checklist of the world’s richest 100 individuals, CNBC reported Saturday.

As the coronavirus pandemic hit the world in March 2020, individuals turned holed up of their properties and firms all of the sudden needed to reorganize their work processes to incorporate cloud techniques and distant work, Zoom’s income skyrocketed, very quickly making it one of many greatest shares on Nasdaq.

According to the Bloomberg Billionaires Index, Yuan is at the moment holding the a centesimal place on the checklist of the world’s wealthiest individuals, with a fortune reportedly estimated at $18.2 billion.

Yuan started his profession as one of many founding engineers of the net conferencing firm WebEx in 1997 and have become a vice-president at Cisco Systems after it purchased the corporate for $3.2 billion in early 2007. In 2011 he left Cisco to determine his personal enterprise known as Zoom. The firm filed for an preliminary inventory providing in March 2019 and was listed on New York’s Nasdaq Global Select Market the next month, elevating a complete of $751 million.

In the spring, considerations in regards to the firm’s software program’s privateness and safety have been raised, together with its alleged connections to China amid the overall US-China tech tensions. Yuan dismissed all such allegations, stating that the corporate was based within the US, is predicated in San Jose, California, and is working in accordance with US legal guidelines.

Sourse: sputniknews.com

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