Zoom CEO Eric Yuan transfers $6 billion worth of his shares

Tuesday, March 9, 2021 at 8:08pm UTC

Zoom Video Communications founder Eric Yuan transferred about 40% of his ownership in the company he runs, a stake valued at about $6 billion, after Zoom's shares more than tripled last year.

The transaction was recorded as two gifts of nearly 9 million shares a piece, 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.

Mr. Yuan was the company's biggest shareholder with a 15% stake in the value of the company and about 40% of the company's voting power before last week's transactions, according to InsiderScore.