College dropout becomes billionaire with Chinese gaming platform

Huang Yimeng, co-founder and chief executive officer of XD, at the company's office in Shanghai, China, on Jan. 21, 2021. Foto: Bloomberg/Qilai Shen

When China's two big mobile powers clashed publicly on New Year's Eve, the stock of a little-known gaming company surged the most ever, minting a new billionaire in 38-year-old maverick entrepreneur Huang Yimeng.

Shares in his indie game distributor XD rose 24% on the first trading day of 2021 after Huawei Technologies temporarily removed all Tencent Holdings games from its app store in a dispute over their revenue split. Investors flocked to the ByteDance-backed creator of TapTap -- a Steam-like download service for games that bypasses the dominant app stores -- on the sign of schism between China's big two...

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