Categories: Business

Zoom CEO eric yuan became 4 billion richer in just few hours

Photo: SOCIAL MEDIA

zoom stock surge

new Delhi. On the one hand, the corona epidemic has brought economic activity around the world to a standstill, although on the other hand it is due to the fact that the giants of the world's tech sector are continuously increasing their wealth. Another name has been added to this episode, that of Eric Zoom, CEO of Zoom, a company that facilitates virtual meetings. Eric's wealth rose by $ 400 million in just a few hours, which is equivalent to 29 thousand crore rupees in Indian money, due to a jump in the company's quarterly profit following the ongoing sanctions caused by the Corona virus.

This increase in Eric's wealth has been attributed to the rise in the company's stock after the quarterly results. On Monday itself, the company announced that its sales had risen by 355 per cent to reach $ 63 million during the quarter. At the same time, the company has estimated that its income can reach the level of Rs 239 crore in a year. Shares of the company were seen after the news. And the stock rose nearly 26 percent to $ 410. With the help of this boom, Eric, the founder and CEO of the California-based company, has raised $ 4 billion. At the same time, the total wealth of the CEO of Zoom has increased by $ 12.8 billion so far this year.

Tech sector companies have seen a sharp jump in income after the restrictions due to the corona virus. In particular, there has been an upsurge in the sales of companies which are offering solutions to meet the needs of businesses with social distancing.

This post was published on September 2, 2020 1:38 am

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