News > Zoom founder Eric Yuan drops $5 billion as vaccine hits Covid-19 winners

Zoom founder Eric Yuan drops $5 billion as vaccine hits Covid-19 winners

Dais Newsfeed | 11/11/2020 10:33 AM | Click to read full article

Zoom shares fell 17% in New York on Monday, erasing $5.1 billion from Yuan’s net worth. He’s sold more than $275 million of Zoom stock in 2020 and is still worth $20 billion, according to the Bloomberg Billionaires Index.

Airlines, oil giants and hotel operators surged, but stocks that benefited from lockdowns and work-from-home arrangements — such as Peloton Interactive Inc., Netflix Inc. and Sea Ltd., Southeast Asia’s largest internet company — all slumped.