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The coronavirus crisis has eliminated millions of Americans’ sources of income, but not Eric Yuan’s.
Yuan is the founder of video conferencing app Zoom. Even before the outbreak of the coronavirus forced people to work and socialize primarily online, Zoom’s share price grew exponentially. Less than two years after joining the three-comma club, Yuan has amassed a fortune of over $17 billion, according to the Bloomberg Billionaires Index. He also now officially ranks on the Forbes 400, making him one of the richest people in the US.
Yuan declined to comment on his net worth, career, or personal life when reached by Business Insider in April, saying through a representative that he was busy working 18-hour days at Zoom.
Keep reading to learn more about Zoom billionaire Eric Yuan.
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Eric Yuan, 50, is one of only a handful of Chinese Americans to lead a major Silicon Valley company.
Yuan was born in China’s Shandong province, according to The Financial Times. Yuan’s parents were mining engineers, according to Forbes.
Yuan has an undergraduate degree in applied mathematics and a master’s degree in engineering, Bloomberg reported. Yuan spent four years working in Japan after graduation but was inspired to move to California’s Silicon Valley to work for an internet startup after listening to Bill Gates give a speech about the dot-com bubble, according to Bloomberg.
The United States denied Yuan’s visa application eight times before allowing the future billionaire to move to California in 1997, Fortune reported. Yuan was 27 at the time, according to CNBC. Yuan told The Financial Times that he had a disagreement with the immigration official who processed his application.
Yuan has worked in teleconferencing since he arrived in the United States.
Yuan spoke little English when he first came to the United States, so he put all his attention on work, CNBC reported. “For the first several years, I was just writing code and I was extremely busy,” Yuan said, according to CNBC. Playing pick-up soccer was one of Yuan’s only hobbies during that time, according to Forbes.
Before founding Zoom, Yuan was a vice president at telecommunications equipment company Cisco Systems. Yuan worked for another videoconferencing company called WebEx that was acquired by Cisco in 2007.
Yuan got the idea for Zoom while trying to find a way to connect with his long-distance girlfriend.
Back when he still lived in China, Yuan and his girlfriend were enrolled in two different colleges that were separated by a 10-hour train ride, according to Fortune. The two later got married.
“I was only able to see her twice a year and it took more than 10 hours to get there …read more
Source:: Business Insider