Zhang Yiming, chief executive officer and founder of Bytedance. ByteDance declined to comment, the newspaper said. However, in response to the FT report, ByteDance this evening called the article “inaccurate,” without elaboration. ByteDance, whose investors include Sequoia-backed funds, was valued at $180 billion in a fundraising round in late 2020; chairman Zhang Yiming has an estimated fortune worth $35.8 billion on the Forbes Real-Time Billionaires List today. See related post:Reported ByteDance IPO Highlights Appeal Of Hong Kong Bourse’s Own SharesChina Can’t Afford To “Eradicate” Its Private Sector: Harvard’s Tony Saich@rflannerychina

Source: Forbes August 08, 2021 10:52 UTC