ByteDance founder donates $77 million amid China billionaires’ charity rush

BEIJING: The founder of TikTok owner ByteDance will give 500 million yuan ($77.35 million) 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 and improve technical education infrastructure, the city’s education bureau said in a statement.