• About
  • Contact
Thursday, March 4, 2021
Next Big Brand
  • .
  • News
  • Internet
  • Startup
  • OTT
  • Industries
  • FMCG
  • Cryptocurrency
  • Retail
  • Tech
  • Case Study
  • Interview
No Result
View All Result
Next Big Brand
Home News

Zoom Record Quarter Adds $4.2 Billion to CEO Eric Yuan’s Fortune

Pritish raj by Pritish raj
September 1, 2020
in News
2 min read
0
Eric Yuan- Next Big Brand

Eric Yuan- Next Big Brand

Share on FacebookShare on Twitter
  • Chief Executive Eric Yuan of Zoom Video Communications Inc, got $4.2bn richer in just a few hours.

Chief Executive Eric Yuan of Zoom Video Communications Inc, got $4.2bn richer in just a few hours.

His virtual-meeting firm’s shares soared to as much as 26 percent to $410 in late U.S. trading as it posted a quarterly sales leap and indicated exponential growth would continue. If the stock were to retain the gain on Tuesday, the fortune of the Yuan would reach $20 billion.

It’s been a year full of eye-popping rallies for the richest names in the tech world — Jeff Bezos from Amazon.com Inc. saw his net worth rise by $13 billion in a single day in July, and Elon Musk from Tesla Inc. added $8 billion in 24 hours last month. Both men have hit record wealth levels, with Bezos reaching $200 billion last week and Musk going over $100 billion.

Zoom was one of the clearest winners of the coronavirus pandemic, with corporations and educational institutions turning to the app for remote work and teaching.

The video conference app announced on Monday that revenues soared 355 percent to $663.5 million over the three months through July 31 — the second-largest increase among Nasdaq 100 Index members last quarter, just behind the biotech company Moderna Inc., data compiled by Bloomberg show. Zoom said revenues in the fiscal year ending in January would amount to as much as $2.39 billion, meaning revenue will almost quadruple in just one year.

One of the biggest gainers this year is the founder of the San Jose, California-based firm, whose net worth is largely made up of its more than 50 million Zoom shares. Yuan, 50, was $12.8 billion richer at the close of Monday as the stock nearly quintupled.

Li Ka-shing and Samuel Chen, early Zoom holders, are also getting a wealth boost from the rally. According to the Bloomberg Billionaires Index, assuming both men still hold the stock, Li could add $2 billion in one day and Chen more than $650 million should Zoom share hit $410 at the next close.

Previous Post

boAt Raises ₹25 crore, Eyes ₹1,000 crore revenue in FY24

Next Post

en:lyft Announces Creator Fund Worth $5 Million For The Content Creators

Pritish raj

Pritish raj

Pritish Raj is a content writer at Next Big Brand. Hailing from the diversified state of Bihar, he is an engineer by education who chooses the way of poetry, photography, and writing to kick off his career. Highly enthusiastic about brands and startups, he aims to be a travel content creator.

Related Posts

Noise ranked as India’s No.1 Wearable Watch Brand in 2020 by IDC
News

Noise ranked as India’s No.1 Wearable Watch Brand in 2020 by IDC

March 4, 2021
Midhula Devabhaktuni: Inspiring Women with Her Successful Entrepreneur Journey
News

Midhula Devabhaktuni: Inspiring Women with Her Successful Entrepreneur Journey

March 4, 2021
Deepinder Goyal, Asish Mohapatra, Sarbvir Singh, and Manish Vij Invest in Bijnis
News

Deepinder Goyal, Asish Mohapatra, Sarbvir Singh, and Manish Vij Invest in Bijnis

March 4, 2021
Netflix Launches Tiktok Inspired Short Video Platform “Fast Laughs”
Netflix

Netflix Launches Tiktok Inspired Short Video Platform “Fast Laughs”

March 4, 2021
Truecaller Launches Personal Safety App, Guardians
News

Truecaller Launches Personal Safety App, Guardians

March 4, 2021
MX TakaTak is the Most Downloaded App in India in February
News

MX TakaTak is the Most Downloaded App in India in February

March 3, 2021
Next Post
en:lyft creator fund- Next Big Brand

en:lyft Announces Creator Fund Worth $5 Million For The Content Creators

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

RECOMMENDED NEWS

nextbigbrand.in

Homegrown company Karbonn to relaunch Sansui in India

2 years ago
Sundar Pichai Google CEO- Next Big Brand

Alphabet CEO Sundar Pichai Compensation Is Worth $281 Million In 2019

10 months ago
Boat Logo white

boAt Is Now Fifth Largest Wearable Brand In World

3 months ago
Most Valuable NAtion Brand- Next Big Brand

India Is 7th Most Valuable Nation Brand In World: Brand Finance

1 year ago

FOLLOW US

  • 28.6k Fans

BROWSE BY TOPICS

2018 League amazon Amazon Great Indian Sale Amazon Prime Apple Apple Inc Automobile Industry Balinese Culture Bali United Budget Travel Champions League Chopper Bike Doctor Terawan facebook Facebook app future group hotstar Indian OTT Platforms Indian Smartphone Market Istana Negara Jio Market Stories Maruti Suzuki National Exam Netflix Netflix India Netflix Originals oppo OTT OYO Realme Reliance Industries Limited Reliance Jio RIL Samsung Tata Motors Tiktok TikTok India TikTok Videos Visit Bali Vivo whatsapp Xiaomi Xiaomi India YouTube
Next Big Brand

We Talk About Brands

Follow us on social media:

Recent News

  • Noise ranked as India’s No.1 Wearable Watch Brand in 2020 by IDC
  • Midhula Devabhaktuni: Inspiring Women with Her Successful Entrepreneur Journey
  • Deepinder Goyal, Asish Mohapatra, Sarbvir Singh, and Manish Vij Invest in Bijnis

Instagram

Follow Me!

Latest News

Noise ranked as India’s No.1 Wearable Watch Brand in 2020 by IDC

Noise ranked as India’s No.1 Wearable Watch Brand in 2020 by IDC

March 4, 2021
Midhula Devabhaktuni: Inspiring Women with Her Successful Entrepreneur Journey

Midhula Devabhaktuni: Inspiring Women with Her Successful Entrepreneur Journey

March 4, 2021
  • About Us
  • Privacy Policy
  • Terms and Conditions
  • Disclaimer
  • DMCA Policy
  • Our Team
  • Contact Us
  • Sitemap

© 2019 NBB. All Rights Reserved.

No Result
View All Result
  • .
  • News
  • Internet
  • Startup
  • OTT
  • Industries
  • FMCG
  • Cryptocurrency
  • Retail
  • Tech
  • Case Study
  • Interview

© 2019 NBB. All Rights Reserved.

Login to your account below

Forgotten Password?

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.