Overseas: According to the release of The Bloomberg on Tuesday, the founder of ByteDance Ltd. Zhang Yiming, the parent company of TikTok Entertainment, is known to have decided to donate 500 million yuan ($ 77.3 million) to an education fund in his hometown.
The source added that the 38-year-old billionaire transferred the money directly to a fund known as Fangmei Educational Development in the southeastern city of Longyan, most of which was used. For infrastructure, education, technology, as well as the construction of accommodation for students.
He is the fourth richest man in China, worth $ 44.5 billion, with ByteDance currently worth $ 250 billion.
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