Zoom founder became $6 billion richer in 24 hours

Eric Yuan, founder of Zoom video conferencing service, added $6 billion to his fortune in 24 hours after the company reported a quadruple in revenue for the second, quarantine quarter of 2020. On this news, Zoom shares jumped 40%, reports Bloomberg.

In the second quarter, Zoom's revenue was $663.5 million, up 355% from the same period in 2019. The company's shares have risen in price by more than 40%. Their growth allowed Yuan, who owns a 22% stake in Zoom, to get rich by $6 billion. According to the Bloomberg Billionaires index, the capital of the founder of Zoom rose to $23 billion.

Another billionaire who has won on Zoom's reporting is Forbes' world No. 31, Hong Kong tycoon Li Ka-shing, who owns an 8.5% stake in the company. His fortune after Zoom reporting increased by $3 billion, to $32.6 billion.

According to Bloomberg, last quarter, Zoom posted the second-largest increase among the participants in the NASDAQ index. Only biotech firm Moderna, which is developing a coronavirus vaccine, was able to get ahead of Zoom.

Amazon founders Jeff Bezos and Tesla Elon Musk showed similar results after the recent reports of their companies in the summer of 2020: Bezos got rich by $13 billion in 24 hours, and Musk by $8 billion.