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Zoom CEO made $4 billion in 3 months

Yuan got the idea for Zoom while trying to find a way to connect with his long-distance girlfriend.

Eric Yuan with Sheey, who inspired Zoom/ Getty image

Although coronavirus crisis has deduced millions of Americans’ sources of income, Zoom Founder Eric Yuan is doesn’t remain under this case. He has made around 4 billion USD  in 3 months as usage of his video conferencing software skyrockets amid the coronavirus pandemic

Even before the outbreak of the novel coronavirus forced people to work and socialize primarily online, Zoom’s share price grew exponentially. Just one year after joining the three-comma club, Yuan has amassed a fortune of over $7.5 billion, according to the Bloomberg Billionaires Index.

In the first two months of this year, Zoom saw over 2.2 million new monthly users. Then as of March 2020, the company’s daily users had spiked by nearly 380 per cent from the previous year.

Yuan according to Bloomberg Billionaires Index is currently he top 200 richest in the world but before 2020, he wasn’t even on the list.

The most interesting thing is, Yuan got the idea of Zoom while trying to find a way to connect with his long-distance girlfriend at his 19.

According to Forbes Yuan told, “I was only able to see her twice a year and it took more than 10 hours to get there by train. I was young then, 18 or 19 years old and I thought it would be fantastic if in the future there was a device where I could just click a button and see her and talk to her.”

However, in 2013, Zoom launched its first official product. It was built in the cloud and priced using a “freemium” model that lets anyone host a meeting of 40 minutes or less for free.

It quickly became popular with business clients. Over 3,500 businesses used Zoom within the first five months of launch and in the next two years, that number grew to about 65,000 companies.

This Chinese American Yuan was born in China in 1970 and got married at his 21 or 22. Currently, his net worth, according Forbes is US$12.1 billion as of July 2020.

 

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