Tiktok

Zhang Yiming founded ByteDance Ltd in 2012 in a four-bedroom Beijing apartment and developed the news aggregator Toutiao and the video-sharing platform TikTok.

ByteDance’s artificial-intelligence spending pressured profit in the first half of the year, but the TikTok parent’s revenue accelerated as a U.S. regulatory overhang cleared, people familiar with the matter said.

Zhang Yiming's rise represents an eightfold increase from the $13 billion recorded in March 2019, when Bloomberg first began tracking his wealth.

In the first 10 days of September, more than 5,000 tech jobs were cut, taking 2026 layoffs to 128,536 across 299 companies. Oracle, Amazon, Dell, Meta, Uber, PayPal and other major firms have announced workforce reductions this year.

At least one person was killed, while three others were injured after an 18-year-old man, who was a former student at Brinell High School, went on a rampage on Friday. Authorities have taken the suspect into custody and are investigating the case.

Whistleblowers told BBC that Meta and TikTok and Meta prioritised user engagement over safety, allowing harmful content on their platforms. The algorithm race led to increased harassment and exploitation, putting vulnerable users like children, at risk.

According to a report by the Wall Street Journal, ByteDance is working with South Asian firm Aolani Cloud, drawing up plans to use around 500 Nvidia Blackwell computing systems comprising 36,000 B200 chips at a unit in Malaysia.