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ByteDance founder donates 500 mil yuan amid China tycoons’ charity rush By June 22, 2021 10:00 PM Zhang unexpectedly announced he would step down as ByteDance CEO last month. (File pic) BEIJING: The founder of TikTok owner ByteDance will give 500 million yuan to the Chinese city of Longyan for education, city authorities said on Tuesday, the latest charitable donation by a tech business leader as the sector comes under scrutiny. Zhang Yiming’s donation to his hometown in Fujian province will go towards the “Fangmei Foundation”, named after Zhang’s grandmothers, to help teachers with advanced education, to support vocational education...
