Chinese private tech giants are reacting after three tech companies saw their founders and CEOs quit companies. Zhang Yiming, the founder of TikTok’s parent company ByteDance, announced his resignation as ByteDance CEO in May. ByteDance in November said Zhang had completed the job transition and officially stepped down.  Zhang, a Chinese computer engineer, founded Bytedance in March 2012. In October 2014, Bytedance established the CCP branch, followed by a Party Committee in April 2017, then grassroots Party branches such as audit and operations, public affairs, and technical support, according to state-owned media. In 2016, Zhang launched a short-form video app called Douyin and after one year released the overseas version called TikTok. TikTok has more than 100 million users outside China.   According to the 2021 Hurun 100 Rich List, a list of China’s richest people that was released on October 27, Zhang ranks second, with a net worth of $51 billion. However, TikTok …