TikTok boss, Zhang Yiming, resigns at age 38 with a net worth of $44bn to spend his time “reading and daydreaming”

One of the billionaire co-founders of TikTok is stepping down as CEO of ByteDance, the Chinese company that owns TikTok.

Zhang Yiming, 38, said Thursday, May 20, that he will leave the role because he lacks managerial skills. He added that he preferred “reading and daydreaming” to running the tech giant.

According to Bloomberg, he resigns with a net worth of $44.5billion, making him 31st on an inventory 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 a perfect manager.

“The truth is, I lack a number of the abilities that make a perfect manager. Similarly, I’m not very social, preferring solitary activities like being online, reading, being attentive to music, and daydreaming about what could also be possible,” he said.

Zhang Yiming will step down at the end of the year to concentrate on long-term strategy.