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Zoom CEO Eric Yuan Transfers $6 Billion Worth of his Shares

Published by

December 5, 2024
(GMT+2)

Zoom Video Communications Inc. founder Eric Yuan transferred about 40% of his ownership in the company he runs, a stake valued at roughly $6 billion, after Zoom’s shares more than tripled last year.The transaction was recorded as two gifts of almost 9 million shares, to unspecified recipients and from two trusts for which Mr. Yuan and his wife are co-trustees, according to a securities filing made late on Friday.In a statement, a Zoom spokeswoman said “the distributions were made in accordance with the terms of Eric Yuan and his wife’s trusts, and are consistent with the Yuan’s typical estate planning practises.” The company didn’t say who now controls the shares. Mr. Yuan and his wife didn’t respond immediately to the requests of the comment. Mr. Yuan was the company’s largest shareholder with a 15% stake in the value of the company and roughly 40% of the company’s voting power before last week’s transactions, according to InsiderScore, which analyzes stock transactions by corporate insiders. The gifts amounted to roughly 6% of the company’s shares outstanding, InsiderScore said.

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