Jay Chaudhry's Journey: Turning Employees into Millionaires

Tuesday, 30 July 2024, 18:28

Jay Chaudhry, the CEO of Zscaler, shares his inspiring story of how he transformed the lives of nearly 90% of his employees into millionaires after selling his first company, SecureIT. Following the sale to VeriSign in 1998 for $70 million, the value of VeriSign's stock skyrocketed, leading over 70 out of 80 employees to gain significant wealth as their stock options blossomed. This remarkable transformation not only highlights Chaudhry's business acumen but also sets a precedent for valuing employee contributions in the tech industry.
Yahoo Finance
Jay Chaudhry's Journey: Turning Employees into Millionaires

Jay Chaudhry's Inspirational Impact on Employee Wealth

Jay Chaudhry, the 65-year-old Indian American CEO of Zscaler, recalls an extraordinary chapter in his career that transformed his employees' lives. After the sale of his first company, SecureIT, to VeriSign in an all-stock deal worth $70 million in 1998, the fortunes of his employees changed dramatically.

From Life Savings to Millionaires

Chaudy and his wife, Jyoti, initially invested their life savings of approximately $500,000 to establish SecureIT. Their hard work paid off abundantly.

  • Over 70 out of 80 employees became millionaires "on paper".
  • VeriSign's stock soared more than 2,300% between 1998 and February 2000.
  • The stock price reached a high of $253 per share.

Conclusion

Chaudhry's experience underscores the potential for employee empowerment and wealth generation within the tech sector. His approach paves the way for future entrepreneurs to prioritize the financial well-being of their teams.


This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.


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