Mar 09, 2021 09:11 AM (GMT+8) · EqualOcean
Yuan Zheng, founder and CEO of zoom video communications, last week transferred about 18 million shares, worth more than $6 billion, or about 40% of the company's shares, to unspecified beneficiaries, according to a recent regulatory filing. The share transfer was carried out in two batches, each batch of about 9 million shares, which was regarded as a gift. A zoom spokesman said the transfers were related to Yuan Zheng's estate planning. "The money was distributed according to the terms of the trust fund of Yuan Zheng and his wife."