The generous donations of 18 million shares from Eric Yuan, CEO of Zoom

The founder of the videoconferencing platform gave around 6% of the company’s capital to two beneficiaries, whose identity is unknown.

The donations of shares made by Eric S. Yuan, the founder and CEO of the video conferencing platform star Zoom, represent around 6% of his company’s capital. According to who has been able to consult official documents from the American financial regulator, the wealthy leader made two donations of nine million Zoom shares each, to two beneficiaries whose identity is unknown. At 337 dollars the Zoom Video Communication share (its closing price on March 8), this represents a sum of approximately 6 billion dollars.

Eric S. Yuan previously held 15% of the capital and 40% of the voting rights of the company he founded in 2011. According to the Wall Street Journal, he would therefore only have 9% of the capital and a little less than 27% of the voting rights.

“Estate plan”

In the United States, this transfer of participation is permitted by a financial instrument used by members of the same family, to avoid certain taxes. According to a spokesperson for the company, this transfer is consistent “at the estate planFrom Eric Yuan, 51 years old.

After a phenomenal 2020 for his company, whose name has even entered into common parlance for videoconferencing, Eric S. Yuan entered the Forbes ranking of the “400 richest Americans” last year with an estimated fortune. to $ 13.7 billion. He has three children.

In 2020, Zoom Video Communication gained 385,000 new business customers, its turnover jumped 327% to $ 2.65 billion and its net profit was multiplied by 26 to reach $ 672 million! Result: the valuation of the group which went public in 2019 was multiplied by 4 in 2020, and now reaches 120 billion dollars. It employs more than 3,800 people around the world.