KEY POINTS
- Eric Yuan is the founder of Zoom
- His net worth increased as much as $12 billion in 6 months
- Zoom’s value skyrocketed during the pandemic
Eric Yuan’s net worth was just $5 million six months ago. He saw his wealth increase by as much as $12 billion during the pandemic, thanks to the company he founded, Zoom.
COVID-19 wreaked havoc to many businesses. It forced others to shift to digital while some were shut down permanently. Zoom, as a video conferencing app, did not encounter such problems. It even grew bigger than Lyft and Pinterest. When the pandemic put the world on a standstill, people relied on Zoom to somehow put normalcy in life: they used it to communicate with relatives and friends, conduct meetings with officemates, and carry on online schooling, among others.
Yuan was already rich when Zoom went public last year pre-COVID, so what the