Zoom Video CEO and founder Eric Yuan transferred 18 million shares worth about $6 billion to unspecified beneficiaries last week, according to Seeking Alpha. The donations are more than a third of his stake in the company.
The distributions are consistent with Yuan’s “typical estate planning practices”-Zoom spokesman
Zoom stock fell 8% on Monday but attempted to rebound, gaining 4% in premarket.
Zoom stock is currently gaining. ZM: NASDAQ is up 4.09%
