Zhang Yiming, the 31st richest person in the world and CEO of ByteDance, the Chinese company that owns TikTok, has resigned. He said he is resigning to create more time for him to read books and daydream.
The 38-year-old announced his resignation in an official letter to his employees on Monday, May 24, 2021, saying he is leaving the role because he lacks managerial skills.
Bloomberg reports that Yiming resigns with a net worth of $44.5billion, making him the 31st on a list of the world’s richest people.
Yiming said, “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.”