The CEO of zoom video communications got US$4.2billion richer in just few hours. Shares of his virtual meeting company rate as high as 26% to $410 in late US trading as it reported a rapid rise in quarterly revenue and suggested the explosive growth will continue. Should the trend continue as seen on Tuesday, Yuan's fortune would surpass $20billlion.
Eric Yuan is not the only person to experience such rapid increase in net worth. Amazon CEO, Jeff Bezos saw his net worth increase by $13billion in one day in July and Tesla's Elon Musk added $8billion in 24hours last month.
Zoom has benefited greatly from the pandemic.
The software developer reported that sales skyrocketed by 355% to $663.5million in 3months till 31july.
Zoom projected that sales would be as high as $23.9 billion in the fiscal year ending in January, suggesting that revenue would almost quadruple in just one year.