Sunday, January 16

Elon Musk effect: another CEO of a tech firm sold shares of his company

Sales Slootman, who was not a founder of the database software company but was brought in in 2019 to go public, continues to
an increase in demand for cloud software since the start of the pandemic that has made it one of the hottest corners of the technology sector.

Other software company bosses who have cashed in this year include Eric Yuan, a director at video conferencing company Zoom, which has sold $ 609 million in stock, according to research by InsiderScore / Verity. Yuan’s sales have spanned a year in which Zoom’s stock price has steadily eroded, falling 67% from the peak it reached last year.

Dave Duffield, president of the human resources software company Workday, and Henry Schuck, director of ZoomInfo, which manages a database of business contacts, have also raised more than $ 600 million each from share sales this year. , according to InsiderScore.

ZoomInfo said its CEO’s sales were “primarily” to cover a tax bill caused by a corporate restructuring. The other companies did not immediately give reasons for the stock sale.

Shares in DocuSign, an electronic signature company, plunged more than 40% earlier this month, a day after it issued a disappointing sales forecast. His boss, Dan Springer, had already sold $ 82 million in company stock earlier this year, according to InsiderScore.

Days ago Elon Musk, CEO of Tesla, also sold another 934,091 shares of the company, for about 963.2 million dollars. Musk has already sold a total of 11.03 million shares.

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