<p>Video-conferencing platform Zoom Video Communications Inc founder Eric Yuan transferred about 18 million shares worth over $6 billion last week, according to a regulatory filing.</p>.<p>The transfers were related to Yuan's estate planning practices, a Zoom spokesperson said. "The distributions were made in accordance with the terms of Eric Yuan and his wife's trusts."</p>.<p>Yuan, who is also the chief executive officer of the company, transferred roughly 40% of his stake in the company to unspecified beneficiaries, Zoom disclosed in a filing late on Friday.</p>.<p>The transfers come as Zoom's shares have nearly tripled in the past 12 months, as the Covid-19 pandemic drove an increasing number of students and professionals to connect online.</p>.<p>The transfers were done in two tranches of about 9 million shares each and were shown as gifts, according to the filing.</p>
<p>Video-conferencing platform Zoom Video Communications Inc founder Eric Yuan transferred about 18 million shares worth over $6 billion last week, according to a regulatory filing.</p>.<p>The transfers were related to Yuan's estate planning practices, a Zoom spokesperson said. "The distributions were made in accordance with the terms of Eric Yuan and his wife's trusts."</p>.<p>Yuan, who is also the chief executive officer of the company, transferred roughly 40% of his stake in the company to unspecified beneficiaries, Zoom disclosed in a filing late on Friday.</p>.<p>The transfers come as Zoom's shares have nearly tripled in the past 12 months, as the Covid-19 pandemic drove an increasing number of students and professionals to connect online.</p>.<p>The transfers were done in two tranches of about 9 million shares each and were shown as gifts, according to the filing.</p>