Explainer | Who Zhang Yiming is and how he grew ByteDance and TikTok into a global sensation

  • Liang Rubo, long-time collaborator and co-founder of the company, will take over in a move that should enable Zhang to focus on long-term strategy
  • The low-profile Zhang has had to face multiple challenges in recent times, including a stand-off with the US over ownership of TikTok

Coco Fengin BeijingandTracy Quin Hong Kong
Zhang Yiming (right), CEO of ByteDance, attends the opening ceremony of the 5th World Internet Conference in Wuzhen in eastern China's Zhejiang Province. Photo: AP
Employees at Beijing-based ByteDance were taken by surprise on Thursday when Zhang Yiming, the soft-spoken founder of the world’s largest unicorn, announced he was giving up his role as chief executive to “be more impactful on longer-term initiatives”, less than one month after the company’s IPO plans were put on hold.

The 38-year-old billionaire, estimated by Forbes to have a net worth of US$35.6 billion and now the third Big Tech founder in China to have taken a step back in recent times after Alibaba Group Holding’s Jack Ma and Pinduoduo’s Colin Huang, appears at first blush to be just another ordinary Chinese engineer.

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