Eric S Yuan is a Chinese-American business magnate and engineer who founded and serves as Zoom Video Communications’ CEO and founder. He also holds a 22% stake in the company. he is 52 years old, born on February 20th, 1970 in Taian, China.
Contents
Eric Yuan Net Worth
Eric Yuan has a net worth of $25 billion and is a Chinese-American businessman and entrepreneur. Eric made a lot of money when he started and ran Zoom Video Communications. Must read this article Kim Pegula Net Worth.
Eric owns 19% of Zoom as of this writing. In June 2019, when the company went public, his share was worth $3 billion. After Coronavirus, a year later, his wealth had grown to $14.6 billion.
Zoom is now worth more than ExxonMobil—and founder Eric Yuan’s net worth has nearly doubled in 3 months https://t.co/5uaZLTRhzv by @skleb1234 pic.twitter.com/l412Y3w1n7
— Forbes (@Forbes) November 1, 2020
Amid Layoffs, Zoom Ceo Eric Yuan Cuts His Pay By 98%.
Zoom CEO Eric Yuan emailed staff on Tuesday that he would slash his salary by 98% and not take a bonus after the company announced 1,300 layoffs.
“As the CEO and founder of Zoom, I am responsible for these mistakes and our actions today,” Yuan informed employees.
“I want to show accountability in words and actions,” he said.
The pandemic and work-from-home culture boosted Zoom’s expansion. Yuan launched the 2011 California-based startup. In October 2020, the stock reached $559. Check also Les Brown Net Worth.
Like many companies that surged during the crisis, it had a difficult landing—its stock is currently trading at roughly $80 (it went up around 10% post-layoff announcement).
Yuan told colleagues that the epidemic rollercoaster prompted the cuts. He said Zoom grew 3x in 24 months to meet demand and enable innovation.
“We didn’t spend enough time analyzing our teams or assessing if we were developing sustainably, towards the top priorities,” he said.
Zoom announced massive layoffs. Amazon, Google, and Meta have fired thousands of workers in the past four months.
Bloomberg reported Yuan’s $301,731 base compensation last year. His pay will drop to $10,000.
The filing stated that other executives will take 20% pay cuts and forgo bonuses for the ensuing year. Check also Tommy Lee Net Worth.
If you liked this article, follow our website, serveupdate.com, and don’t forget to follow our social media handles.
