Zoom founder Eric Yuan has transferred about 18 million of his shares worth more than $6bn (£4.4bn), according to a regulatory filing. Mr Yuan, who is also chief executive of platform, moved roughly 40% of his stake in the company last week.
The shares were shown as gifts to unspecified beneficiaries. Mr Yuan has seen his personal wealth rocket as Zoom became a household name during the COVID pandemic lockdowns.
An increasing number of students and professionals connected online boosting the fortunes of Zoom and its founder. A spokesperson for Zoom said the transfers were related to Mr Yuan's estate planning practices. "The distributions were made in accordance with the terms of Eric Yuan and his wife's trusts."
Zoom's shares have nearly tripled in the past 12 months and the company has a market valuation of around $100bn.
