Chinese video gaming billionaire plans relocation with family abroad after draconian Shanghai lockdown
- XD co-founder and chief executive Huang Yimeng has told colleagues that he is making preparations to move out of China
- A rising number of Chinese middle-class families are contemplating relocation to escape strict Covid-19 control measures
Huang Yimeng, the billionaire co-founder of one of China’s largest video gaming companies, XD, said he is relocating with his family abroad next year, joining a growing number of rich and educated Chinese people considering emigration amid the country’s rigid Covid-19 measures.
Huang, 40, said in an internal memo seen by XD employees that the move will take place “after the next summer break”, without disclosing his destination. He will be travelling for several weeks from Wednesday onwards to make preliminary preparations for the relocation.
XD confirmed the authenticity of the memo and said Huang does not plan to give up his Chinese citizenship. Huang declined a request for interview.
One of China’s youngest nouveau riche with a net worth of US$1.2 billion according to the 2021 Forbes Rich List, Huang currently lives with his school-age children in Shanghai, where XD is headquartered.
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Shanghai residents confront officials after swift return of lockdown
His decision to move his family out of China comes after Shanghai recently emerged from a two-month citywide lockdown that began on April 1.