Zoom founder Eric Yuan storms into list of world's richest people
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Founder and CEO of Zoom, Eric Yuan has become one of the world&#39;s richest people in 2020 as Covid-19 sent people rushing to meet on video.</p>
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In an age of video calls, Zoom&#39;s revenue has quadrupled and profit increased 90-fold, becoming one of the top stocks of the year alongside the likes of vaccine maker Moderna and Chinese Tesla challenger Nio &mdash; with a gain of more than 450 per cent, reveals a CNBC report.</p>
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It said that Zoom came from nowhere and wasn&rsquo;t backed by bigwigs like Cisco, Facebook, Google or Microsoft. &quot;That&rsquo;s been helpful for Yuan, who previously worked on the Webex video calling software that Cisco bought in 2007. Yuan was already a billionaire before Covid-19, having taken Zoom public in April 2019 and impressed investors with the combination of fast growth and profitability.</p>
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Now he&rsquo;s one of the world&rsquo;s 100 richest people. His Zoom shares are worth almost $17 billion, according to FactSet,&quot; the report mentioned.</p>
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Jordan Novet, the technology reporter for CNBC.com, says that the company&#39;s expansion however hasn&#39;t come easily as Zoom faced unprecedented demand, was bombarded with privacy and security concerns and questions were also raised about Yuan&rsquo;s connections to China with Nancy Pelosi, speaker of the House of Representatives, even calling Zoom a Chinese entity on live television.</p>
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Yuan had responded by issuing a post on a corporate blog. &quot;I became an American citizen in July 2007,&rdquo; he wrote. &ldquo;I have lived happily in America since 1997. Zoom is an American company, founded and headquartered in California, incorporated in Delaware and publicly traded on Nasdaq.&quot;</p>
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