Zhang Yiming, one of the co-founders of fast growing social media platform, TikTok, is stepping down.
The 38 year old billionaire is the CEO of ByteDance, the Chinese company that owns TikTok.
On Thursday May 20, Zhang said he will be spending his time “solidarity activities like being online, reading, daydreaming eye”
He also said that he is leaving the role because he lacks managerial skills. According to Bloomberg, he resigns with a net worth of $44.5billion, making him 31st on a list of the world’s richest people.
On Monday, May 24, Zhang announced his resignation in an official letter to his employees. he reiterated that he lacked some skills that’d 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,” he said.