CXMT Founder Zhu Yiming Pledges $5.6 Billion in Worker Bonuses After IPO
Updated
Updated · Bloomberg · Jul 28
CXMT Founder Zhu Yiming Pledges $5.6 Billion in Worker Bonuses After IPO
3 articles · Updated · Bloomberg · Jul 28
Summary
$5.6 billion of Zhu Yiming’s post-IPO wealth is being earmarked for employee bonuses, a retention push for staff building advanced memory chips in China.
CXMT’s Shanghai debut on Monday drove Zhu’s net worth, including unvested shares, up nearly 300% to $13.9 billion, according to the Bloomberg Billionaires Index.
The 40% pledge would hand a large share of that windfall to workers as CXMT competes for talent in China’s drive to strengthen its semiconductor industry.
Zhu joins a widening group of billionaires enriched by the US-China race for tech dominance, with chipmakers at the center of that contest.