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Eric Yuan – Zoom CEO’s worth soars to $17 billion – thanks to Covid19

Zoom is now a household name and everyone including kindergarteners know it. It’s CEO Eric Yuan saw his network raising to $17 billion, thanks to his company zoom who beat its mega rivals such as Microsoft, Google, Cisco and Facebook.

Yuan was already a billionaire before Covid-19, after listing Zoom in Nasdaq in April 2019 and investors are impressed with the combination of popularity, fast growth and of course profitability. Now he’s one of the world’s 100 richest people. His Zoom shares are worth almost $17 billion, according to FactSet.

Zoom’s growth isn’t always come easily. Zoom found itself with concerns about the it’s platforms privacy and security. Many questioned Zoom’s connection to China including Nancy Pelosi, speaker of the House of Representatives, called Zoom a Chinese entity on live television.

Yuan responsed in a blog post with “I became an American citizen in July 2007, … 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.”

Recently Zoom is in decline, currently trading around $375 from the high of $588.84. Navigating the future of the Zoom past the covid is challenging for investors, company and Eric Yuan. Zoom trades at 127 times next year’s earnings, the stock’s recent pullback pushed it below its 50-day moving average, and there is possibility of it retesting its 200-day at $303.

Recently this week on Gordon, founder of TradingAnalysis.com, told in an interview that “The first one that I want to cut, unbelievably, is Zoom. We’ve had a great run in it. I don’t like the way the stock is trading here from a technical point of view. From a fundamental point of view, it’s really overvalued.”

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