Man becomes billionaire despite his US visa being denied 8 times

Man becomes billionaire despite his US visa being denied 8 times

A Chinese-born entrepreneur, Eric Yuan, who was denied a visa by the United States of America, is now a billionaire.

Yuan finally made it to the US two years after his visa rejection and has become a major shareholder of video conference services firm Zoom Video Communications Inc.

The video communications company raised $751 million in an initial public offering on Wednesday, 17 April, Bloomberg reported.

It was gathered that Yuan's family stock hit $57 million, based on Zoom’s IPO price of $36 a share.

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The billionaire's company's reported nett income of $7.6 million on revenue of $331 million for the year and is now nine times worth 1 billion.

Yuan, who started his career at WebEx communication, also worked at Cisco Systems Inc. before he came up with Zoom Video Communications.

He said his dream was to have a smart device which could allow him to see and talk to people in just one click.

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Denied US visa 8 times this man is now a billionaire

Eric Yuan. Photo credit: Bloomberg

The billionaire said, “And every day I thought about that.”

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Forbes recently released its 2019 list of the world’s billionaires and Briefly.co.za found it impressive to note that a number of black people also clinched top spots on the list.

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Source: Briefly.co.za

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