Zoom founder lost more than $ 3 billion in a day

Zoom founder lost more than $ 3 billion in a day

Investing.com — The capital of the creator of the Zoom video conferencing service Eric Yuan declined by $ 3.1 billion in a day..

The fortune of the Yuan, which owns 15% of Zoom, after that decreased, according to Forbes Real-Time, to $ 17.9 billion. In the spring, the businessman's capital was $ 5.5 billion. However, after the outbreak of the pandemic, the Yuan began to rapidly grow richer. — Zoom stock has skyrocketed as telecommuters use video calls to chat with coworkers.

>> Zoom reported on record revenue

On Tuesday, December 1, the service released its financials for the third financial quarter of 2020, reporting an impressive $ 777.2 million in revenue. However, investors were disappointed by Zoom's forecast of a year-on-year slowdown in fourth-quarter revenue. Market players also fear that the company's shares are too overvalued: now their price exceeds $ 406 per share..

The text was prepared by Yana Shebalina

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