Shulou(Shulou.com)11/24 Report--

CTOnews.com May 4 news, CTOnews.com learned from the official website of Longyan Municipal Bureau of Education that Zhang Yiming, founder of byte beat, donated an additional 200 million yuan to Fangmei Education Development Fund to support Longyan vocational education, art education and other educational public welfare projects. After the additional donation, the total size of the fund reached 700 million yuan.

Fangmei Education Development Fund was established in Longyan Charity Federation on June 22, 2021. At that time, Zhang Yiming donated 500 million yuan to the fund for the first time to help improve the quality of education in his hometown and train outstanding talents.

In December 2021, Fangmei Education Development Fund allocated 200 million yuan to set up Citic Trust 2021 Fangmei Education Charity Trust to support the city's scholarship forever. It is understood that the scale of the charitable trust is in the forefront of the current education field in China.

At present, the Fangmei Education Development Fund has funded the selection of two Fangmei Education and Teaching Awards and the distribution of teaching awards. 1494 primary and secondary school teachers in the city have won the awards, totaling more than 2700 million yuan. In addition, the Fangmei Education Development Fund has supported the infrastructure construction of Yongding No.1 Middle School and Peifeng Middle School, and the dormitory and playground of Peifeng Middle School have been put into use.

In April 2023, with the support of Fangmei Education Development Fund, 84 teachers and researchers of the city attended an advanced seminar on professional literacy in Changping Campus of Beijing normal University and completed the first phase of training.

Earlier, TikTok CEO Weekly confirmed in congressional testimony that 60 per cent of byte jump was held by global investors, 20 per cent by employees and 20 per cent by founders. Most of the 20 per cent of the founder's shares are held by Zhang Yiming, while another co-founder, Liang Rubo, holds about 1 per cent, according to people familiar with the matter. The valuation of byte jump fell to about $220 billion, based on recent purchases of byte-jumping shares in the private market by Abu Dhabi artificial intelligence company G42. On this basis, Zhang Yiming has a net worth of $42.3 billion (CTOnews.com Note: currently about 292.293 billion yuan), while Liang Rubo has a net worth of $2.1 billion. Last September, byte jump was valued at $300 billion when it bought back up to $3 billion of shares in the company. Compared with then, Zhang Yiming's net worth has fallen by about $13 billion.

CTOnews.com Note: Longyan City, also known as Minxi, Fujian Province has jurisdiction over prefecture-level cities, located at the junction of Fujian, Guangdong and Jiangxi provinces in the west of Fujian, is the famous old revolutionary base area and the former core area of the Central Soviet area, and is the hometown of the Red Army and one of the important starting points of the Red Army's long March.

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