Cookies on the Business Insider India website

Business Insider India has updated its Privacy and Cookie policy. We use cookies to ensure that we give you the better experience on our website. If you continue without changing your settings, we\'ll assume that you are happy to receive all cookies on the Business Insider India website. However, you can change your cookie setting at any time by clicking on our Cookie Policy at any time. You can also see our Privacy Policy.

Zoom billionaire Eric Yuan made $5 billion in one day as the videoconference company reports record earnings

Taylor Nicole RogersSep 2, 2020, 01:33 IST

Business Insider

Eric Yuan, CEO of Zoom Video Communications walks on the street as he takes part in a bell ringing ceremony at the NASDAQ MarketSite in New York.Reuters

Zoom CEO Eric Yuan made $5.2 billion Monday after his videoconferencing company reported record quarterly earnings, Bloomberg reports.
Zoom said its revenue during the second quarter was 355% higher than it was during the same period last year, shattering analysts' estimates.
Yuan, along with Jeff Bezos and Elon Musk, is among the highest-earning billionaires throughout the coronavirus pandemic.
Zoom saw a major boost in market value as schools, companies, and social functions transitioned online to promote social distancing, with increasing reliance on videoconferencing technologies for day-to-day life.
Bloomberg now estimates Yuan is worth $16.4 billion, a more than 360% increase from his net worth at the start of the year.