Meet Zhang Yiming, the secretive Chinese billionaire behind TikTok who made over $12 billion in 2018 and called Trump’s demands to sell the app ‘unreasonable’

ByteDance CEO Zhang Yiming makes his own TikToks — and requires his senior employees to as well.
ByteDance CEO Zhang Yiming makes his own TikToks — and requires his senior employees to as well.

Visual China Group via Getty Images; Ruobing Su/Business Insider

  • Zhang Yiming built a $16.2 billion fortune after founding ByteDance, the Chinese software developer behind TikTok.

  • Despite being one of the wealthiest people in China, Zhang is extremely private and little is known about his personal life.

  • TikTok is currently in negotiations to sell its US operations to Microsoft amid a threat of a ban from President Trump, sparking fierce criticism of Yiming on Chinese social media.

  • Visit Business Insider’s homepage for more stories.

The widespread popularity of TikTok has not just created a new generation of social media stars, it’s also created a social media billionaire.

Zhang Yiming, the 36-year-old software engineer who founded the app’s parent company, now has a net worth of $16.2 billion, Forbes estimates. Despite being one of the

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Shopify Is Seizing an $80 Billion Pot of Gold

This article was originally published on ETFTrends.com.

By Stephen McBride

I’m about to show you the most important table in all of investing. Please look at it closely.

Below, you’ll find the world’s 10 largest publicly traded companies in 2000, 2010, and 2020.

You probably recognize most of these stocks. The 2020 column reads like a “who’s who” of the most popular US stocks today. But you’ll notice a strange pattern when you look across all three columns.

The list completely changes every decade. In other words, most of the world’s dominant companies falter and fall out of the top 10. Only Microsoft has maintained its position since 2000.

And usually when a stock drops off the list, it does not decline gracefully. Investors who owned it get crushed. For example, from 2001–2018, General Electric (GE) stock plunged 79%, Cisco (CSCO) collapsed 89%, and Intel (INTC) dropped 56%.

Now

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EU opens full competition probe into Google’s $2.1 billion Fitbit deal

The Fitbit Charge wearable device - Fitbit
The Fitbit Charge wearable device – Fitbit

The European Commission will carry out a full competition probe into Google’s $2.1bn (£1.6bn) acquisition of wearable technology business Fitbit.

The probe, which follows an initial investigation into the deal, will examine whether the purchase of Fitbit will hand Google potentially valuable data that it could use to dominate the online advertising market.

Giving Google access to Fitbit’s data on its customers, who use the company’s watches and other wearable devices to measure their exercise, risks “increasing the data advantage of Google in the personalisation of the ads it serves via its search engine and displays on other internet pages,” the EU said in a blog post announcing the probe.

The EU probe will also investigate the potential impact of the purchase of Fitbit on the digital healthcare field, as well as any effects on rival fitness wearable devices.

Rick Osterloh, a Google

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This chart shows how a Microsoft acquisition of TikTok for $50 billion would stack up against tech’s largest deals ever

A logo for the popular video app TikTok, which is owned and operated by the Chinese company ByteDance.
A logo for the popular video app TikTok, which is owned and operated by the Chinese company ByteDance.

Reuters File Photo

Microsoft is in talks to buy wildly popular video sharing platform TikTok from Chinese owner ByteDance, and the deal could go as high as $50 billion — the latest valuation given to TikTok by its investors, according to a recent Reuters report.

That would make it the second-highest tech acquisition price of all time, well above the prices paid in dozens of major acquisitions.

Here’s a look at the history of tech’s most expensive acquisitions, from Apple’s measly $3 billion purchase of Beats all the way to Dell’s notoriously expensive acquisition of EMC Corporation for a whopping $67 billion:

27. Apple bought Beats in 2014 for $3 billion.

From left to right: Beats cofounder Jimmy Iovine, Apple CEO Tim Cook, Beats cofounder Dr. Dre, and Apple senior VP Eddy Cue.
From left to right: Beats cofounder Jimmy Iovine, Apple CEO Tim Cook, Beats cofounder Dr. Dre, and Apple senior VP Eddy
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This $3 billion online education company is seeing a ‘paradigm shift’ due to coronavirus

As more and more colleges weigh their options for adding online education in the fall, one online ed company is reaping the benefits of the shift away from lecture halls.

Industry leader 2U (TWOU) helps big name universities like Harvard, Massachusetts Institute of Technology and dozens of others offer educational programs online and as its CEO explained to Yahoo Finance Tuesday, business is booming.

“Over the last three months, we’ve spoken to more presidents and provosts than we had in our entire 12-year history,” CEO Chip Paucek told Yahoo Finance’s YFi PM. “So this is definitely a paradigm shift moment for online ed without question.”

As Paucek highlights, many colleges had been caught off guard when the coronavirus pandemic first hit back in March. Shifting to online classes for many meant little more than a Zoom video conference with a professor. With 2U’s tech, the company is offering the prospect

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Jack Ma’s Ant Seeks $200 Billion Value in Landmark Dual IPO

(Bloomberg) —

Billionaire Jack Ma’s Ant Group is seeking a valuation north of $200 billion as it goes public in Hong Kong and Shanghai, people familiar with the matter said, kicking off a much-anticipated market debut for China’s leader in internet finance.

The parent of China’s largest mobile payment company will pursue a simultaneous dual-listing in Hong Kong and on the Shanghai stock exchange’s STAR board, the Hangzhou-based firm said, in what promises to be one of the largest debuts in years. Ant is already more richly valued than most Wall Street firms and, if conditions are favorable, it could seek to raise more in its IPOs than Saudi Aramco’s record $29 billion haul, one of the people said, asking not to be identified talking about a private deal.

The crown jewel of the sprawling Alibaba empire, Ant has been accelerating its evolution into an online mall for everything from

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Google is investing $4.5 billion in India’s mobile internet giant Reliance Jio and the 2 will make a new affordable Android phone

Google CEO Sundar Pichai with his wife and engineer Anjali Pichai as they arrive to attend the wedding ceremony of Akash Ambani, son of Indian businessman Mukesh Ambani, in Mumbai on March 9, 2019.
Google CEO Sundar Pichai with his wife and engineer Anjali Pichai as they arrive to attend the wedding ceremony of Akash Ambani, son of Indian businessman Mukesh Ambani, in Mumbai on March 9, 2019.

SUJIT JAISWAL/AFP via Getty Images

  • Google is to invest $4.5 billion into Indian internet company Jio Platforms, Google chief executive Sundar Pichai confirmed on Wednesday.

  • Jio Platforms owns India’s biggest telecoms provider Reliance Jio as well as a suite of homegrown apps such as Zoom rival JioMeet.

  • The investment gives Google a 7.7% stake in Jio Platforms, providing the deal is cleared by India’s regulators.

  • Reliance Jio’s founder, Mukesh Ambani, is currently the sixth-richest man in the world, with a net wealth of $72.4 billion.

  • Visit Business Insider’s homepage for more stories.

Google will invest $4.5 billion in disruptive, popular Indian internet firm Jio Platforms, the company confirmed on Wednesday.

The deal gives Google a 7.7%

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Alphabet to Invest $10 Billion in India, Expand Footprint

Alphabet’s GOOGL Google is leaving no stone unturned to bolster presence in India. This is evident from its latest announcement of investing $10 billion in the country over the next five-seven years.

Reportedly, the company aims to focus on areas that are related to India’s digitization. These include enabling access to information via Internet in local languages and building new products and services in varied areas like consumer technology, education, health, as well as agriculture.

In addition, it aims to help small and medium businesses to adopt digital tools for adapting to the current situation.

We believe Amazon’s initiatives to strengthen foothold in India are in sync with its growing efforts toward expanding global footprint.

Alphabet Inc. Price and Consensus

 

Alphabet Inc. Price and Consensus

Alphabet Inc. price-consensus-chart | Alphabet Inc. Quote

Growing India-Based Initiatives

The latest deal bodes well for Google’s persistent efforts toward expanding presence in

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CEO Pichai Says Google Will Invest $10 Billion in India

(Bloomberg) — Google said it plans to spend $10 billion over the next five to seven years to help accelerate the adoption of digital technologies in India.

Sundar Pichai, who was born in the country and is now chief executive officer of parent Alphabet Inc., made the announcement at the annual Google for India event via video conference. He said the outbreak of the coronavirus has made clear the importance of technology for conducting business and for connecting with friends and family.

“This is a reflection of our confidence in the future of India and its digital economy,” he said of the India Digitization Fund.

The $10 billion will be invested in partnerships, operations, infrastructure, the digital ecosystem and equity investments. Google said the effort will focus on several key areas:

Enabling affordable access and information for every Indian in their own language, including Hindi, Tamil and PunjabiBuilding new products

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Elon Musk’s net worth just hit $70.5 billion, surpassing Warren Buffett’s. Here’s how the billionaire Tesla and SpaceX CEO went from getting bullied as a child to becoming one of the most successful and controversial men in tech.

Elon Musk.
Elon Musk.

Steve Nesius/Reuters

  • Elon Musk has had a tumultuous yet successful life. 

  • He was bullied as a child but ultimately attended an Ivy League university, going on to become the CEO of two companies, Tesla and SpaceX, and the founder of three more.

  • He’s also been married three times and has triplets and twins. He just had another baby with his girlfriend, the musician Grimes. 

  • But Musk also courts controversy, especially on Twitter. The tech billionaire has been outspoken about the coronavirus crisis, questioning the severity of the outbreak and urging for business to resume.

  • Now, Musk has hit a new milestone: as Tesla’s stock hit an all-time high, Musk’s wealth surged to $70.5 billion.

  • Visit Business Insider’s homepage for more stories.

It seems like there’s nothing Elon Musk can’t do. 

As CEO of SpaceX and Tesla, founder of The Boring Company, and cofounder of OpenAI and Neuralink, Musk

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