Eric Yuan is a rich Chinese-American businessman, engineer, and professor. He founded and is the CEO of Zoom Video Communications. In 2021, Yuan’s net worth is expected to be about $17 billion. His net worth is now $7.9 billion (as of 2022).
Because of the COVID-19 outbreak, individuals all around the world began using Zoom, and the company saw a significant boost. Yuan left Cisco Systems to start his own business. His visa had been denied nine times before arriving in the United States, and he spoke very little English.
Yuan is now one of the world’s wealthiest people. Time magazine selected him as Businessperson of the Year in 2020. Here’s Eric Yuan’s narrative of accomplishment.
Early life and struggles: Eric Yuan was born in China on February 20, 1970. His parents were geological engineers. Yuan used to gather building scraps and debris and recycle them for money while he was in the fourth grade.
He went to Shandong University of Science and Technology to finish his education. There, he got a degree in applied mathematics. Yuan took 10-hour train excursions to see his sweetheart during his freshman year in college. This made him want to make software for videoconferencing so he could find an easier way to see and talk to her.
He had always had this concept in the back of his mind, and he eventually invented Zoom. Yuan attended China University after graduation and earned a master’s degree in geology engineering.
He moved to Beijing after finishing his master’s degree. Then he went to Japan for a training program. Bill Gates visited Japan in 1995, and his speech prompted Yuan to relocate to the United States. Yuan’s visa was rejected nine times before he moved to America in 1997. He also spoke very little English and had difficulty communicating.
He, however, did not give up. Yuan then joined WebEx, a videoconferencing start-up. Yuan was appointed vice president of engineering in 2007. He introduced the notion of developing a smartphone-friendly video conferencing system in 2011. They, however, rejected the notion. Yuan made the decision to leave his employment and create his own firm, Zoom Communications. He had faith in himself and his concept.
After leaving Cisco Systems, Eric Yuan founded Zoom Communications, a video conferencing firm. He released the software in 2013, and it had 1 million users by May. Zoom became a unicorn firm in 2017, with a $1 billion valuation.
Because of the COVID-19 pandemic, millions of people started using Zoom for different reasons, which led to a big jump in the number of users. Yuan’s net worth has risen to $17 billion in less than two years. He is one of the wealthiest people in America.
The corporation is now worth roughly $35 billion. Zoom surpassed Lyft and Pinterest in value within two years. Yuan’s hard work and devotion helped him build one of the world’s most profitable businesses. He was always confident in himself and his aspirations.
Yuan was selected as the 2020 Businessperson of the Year by the New York Times. Furthermore, he was named to the Times’ list of the 100 most influential people in 2020.
Eric Yuan’s story: Yuan’s concept to create a web conferencing app was initially rejected. He took the plunge and quit his job to pursue his goals. We must constantly have faith in ourselves and never give up.
The secret to success is hard work. It teaches us perseverance, dedication, and determination. Finally, make an effort to learn from your failures.
Courtesy: Failure Before Success