Home / World News / $4 bn in hours: Zoom CEO's wealth soars as revenue jumps 355% in Q2

$4 bn in hours: Zoom CEO's wealth soars as revenue jumps 355% in Q2

Shares of his virtual-meeting company surged as much as 26 per cent to $410 in late US trading as it reported a jump in quarterly revenue and suggested the explosive growth will continue.

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Yuan’s net worth soared by $5.2 billion as shares of his company surged 32% to $429.28 in early trade on Tuesday | Photo: Bloomberg

Agencies

2 min read Last Updated : Sep 02 2020 | 1:52 AM IST

In just a few hours, Zoom Video Communications Inc Chief Executive Officer Eric Yuan got $4.2 billion richer.

Shares of his virtual-meeting company surged as much as 26 per cent to $410 in late US trading as it reported a jump in quarterly revenue and suggested the explosive growth will continue.

Zoom Video Communications reported the second-largest sales surge among Nasdaq 100 companies last quarter, providing an emphatic demonstration that businesses and consumers have continued to flock to the video-meeting service in even larger numbers than expected. Shares soared more than 32 per cent in early trading on Tuesday. Revenue jumped more

Topics : Zoom Video Calling

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