Business News

Zoom Founder Eric Yuan Transfers $6 Billion Worth of Shares

(Bloomberg) — Eric Yuan, chief executive officer of Zoom Video Communications Inc., donated more than a third of his stake in the company, filings show.

Yuan gifted almost 18 million shares of the conferencing-technology firm last week. The filings didn’t specify the recipient of the shares, which were owned by a Grantor Retained Annuity Trust, or GRAT, for which Yuan is a trustee.

The shares were valued at about $6 billion, based on Friday’s closing price.

The distributions are consistent with the…

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