ByteDance founder Zhang Yiming donates 500 million yuan for education amid rush by tech billionaires to show charitable side after Beijing crackdown

Source: Tech – South China Morning PostZhang Yiming, the 38-year-old founder of TikTok owner ByteDance, is the latest Chinese tech billionaire to make a generous charitable donation, giving away 500 million yuan (US$77 million) to set up an education fund in his home city of Longyan in China’s eastern Fujian province.Zhang, who announced last month that he plans to step down as chief executive of the world’s most valuable start-up by the end of this year, will put the money into a fund called “Fang Mei”, named after his grandmothers…Read More

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