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Eric Yuan, CEO of video conferencing platform Zoom, grew $ 5 billion in a single day after the company he ran reported record increases in the second quarter, according to Business Insider.
Zoom said second quarter sales were up 355% over the same period last year. Thus, Yuan joins to a group which includes billionaires like Elon Musk and Jeff Bezos, which posted record increases during the coronavirus pandemic.
The video conferencing service has made more money in the last three months than in all of 2019 as the number of people working from home has increased massively due to the crisis caused by COVID-19. The platform’s shares have risen nearly fourfold this year, managing to beat analysts’ already optimistic estimates.
Thanks to the latest results, Zoom has updated its revenue target for fiscal 2021 from $ 1.78-1.8 billion to $ 2.37-2.39 billion.
Bloomberg estimates the yuan’s fortune at $ 16.4 billion, a 360% increase from the beginning of the year. Meanwhile, Zoom’s market value has reached $ 129 billion.
