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TikTok tycoon Zhang Yiming now calls Singapore home – as do many Chinese tech titans these days
- Billionaire ByteDance Ltd. founder Zhang Yiming is living in Singapore while keeping Chinese citizenship, court filings recently revealed
- He joins a raft of corporate chieftains who relocated to the city state from China after years of regulatory tightening and Covid restrictions
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Among the facts TikTok’s lawsuit against the US government surfaced: billionaire ByteDance Ltd. founder Zhang Yiming is living in Singapore while keeping Chinese citizenship.
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Zhang joins a raft of corporate chieftains who’ve relocated to the island state after years of regulatory tightening and Covid restrictions hammered China’s once freewheeling tech sector. Fellow entrepreneurs with close ties to the Asian financial hub include Alibaba Group Holding Ltd. CEO Eddie Wu – who is a naturalised Singaporean citizen – and cryptocurrency pioneer Wu Jihan. Alibaba owns the South China Morning Post.
Zhang is a Chinese national living in Singapore who now owns roughly 21 per cent of TikTok’s parent, ByteDance said in its lawsuit challenging the TikTok divest-or-ban law. Global investors and ByteDance employees own the rest.
The billionaire spent much of 2022 overseas, using Singapore as a primary base, The Information reported at the time, fuelling speculation he had applied for foreign citizenship. TikTok included Zhang’s status in a section outlining influential figures at the company.
Like many of China’s corporate elite, several of ByteDance’s honchos have shown a predilection for the prosperous city state in past years.
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Zhang years ago handed leadership at ByteDance to fellow co-founder and college roommate Liang Rubo, who is now also based in Singapore. TikTok CEO Chew Shou Zi himself is Singaporean. Other senior executives for ByteDance’s Chinese operations, including commercialisation chief Zhang Lidong, remain in their home country.
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