Tag: Zhang Yiming

China’s Rich List Reshuffles as Business Regulations Tighten

Xi Jinping’s crackdown on business has transformed the ranking of China’s wealthiest people. As indicated by the Hurun China Rich List 2021, many familiar names dropped several places, while at least nine tycoons have had their properties auctioned by the courts. New names were seen in the top three of this year’s rich list, with…


‘I’m Not Very Social’: ByteDance Founder to Hand CEO Reins to College Roommate

Zhang Yiming announced he will step down as CEO of TikTok-owner ByteDance, saying he lacked the social skills to be an ideal manager and naming his college roommate Liang Rubo as his successor to navigate a rising tide of Big Tech regulations. In a surprise announcement to employees on Thursday, first reported by Reuters and…