US stock market flotation earns Zoom boss Jonathan Chadwick £20m

  • Video conferencing firm Zoom listed on Nasdaq on Thursday 
  • Jonathan Chadwick, who is a director of Zoom, is sitting on 400,000 shares

A Briton is set to make £20million after his £7billion company joined the rush of technology firms floating on the US stock market.

Video conferencing firm Zoom listed on Nasdaq on Thursday, becoming the latest major technology firm to offer shares.

They were priced at $36 (£28), valuing the company at around £7billion, but they leapt 80 per cent on the first day of trading to $65, giving it a £13billion price tag.

Video conferencing firm Zoom listed on Nasdaq on Thursday

Video conferencing firm Zoom listed on Nasdaq on Thursday

Accountant Jonathan Chadwick, who is a director of Zoom, is sitting on 400,000 shares now worth £20million thanks to the flotation.

He can immediately cash in around a third, but will have to wait for the rest as they pay out in monthly instalments.

Chadwick, who studied at Bath University, has previously served as chief financial officer of software giant VMware, video chat firm Skype, and cyber security company McAfee.

 



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