Zoom execs dumped $580M of stock as its share price rose 622%
Chief exec Eric Yuan just dumped $69 million worth of company stock
Compared to Bezos, Zoom’s insider dumps are rookie numbers
While SEC docs show that each Zoom insider sold shares according to pre-set trading plans, Yuan’s latest trades were even more profitable due to company’s raging share price.
Overall, Zoom stock has returned 622.5% year-to-date, having skyrocketed from $68.72 to $496.50 to propel its CEO to #43 onForbes’ billionaires list. Zoom stock has also more than doubled since Yuan last sold stock in August.
[Read: Has Jeff Bezos ended world hunger? Twitter account skewers Amazon chief’s absurd $178B fortune]
To most people, Yuan’s $251 million is a fortune, but to Amazon’s baldking Jeff Bezos, it’s chump change.
Indeed, Bezos hasdumped $7.2 billionworth of Amazon stock so far in 2020—more than 12 times the money Zoom execs have collectively cashed in over the same period.
Story byDavid Canellis
David is a tech journalist who loves old-school adventure games, techno and the Beastie Boys. He’s currently on the finance beat.David is a tech journalist who loves old-school adventure games, techno and the Beastie Boys. He’s currently on the finance beat.
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