Zhang Yiming, 38, one of the billionaire co-founders of TikTok announced on Thursday, May 20, that he is stepping down as CEO of ByteDance, the Chinese company that owns TikTok.
According to Zhang, he will be leaving the role because he lacks managerial skills and added that he preferred “reading and daydreaming” to running the tech giant.
Zhang Yiming announced his resignation in an official letter to his employees on Monday, May 24, reiterating that he lacked some skills that would make him an ideal manager.
The truth is, I lack some of the skills that make an ideal manager. Similarly, I’m not very social, preferring solitary activities like being online, reading, listening to music, and daydreaming about what may be possible
Zhang Yiming will step down at the end of the year to focus on long-term strategy and according to Bloomberg, he resigns with a net worth of $44.5billion, making him 31st on a list of the world’s richest people.
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