This week, the CEO of TikTok has been in the news because he will talk to Congress today on Capitol Hill. (March 23). He wants to reassure senators that the app is safe, despite fears about it, and calls to stop it in the United States.
Shou posted a video online this week where he thanked Americans who used TikTok and said he would speak in Washington, DC. Shou Zi Chew is the CEO of one of the world’s biggest companies, but no one knows how much money he has.
Who Is Shou Zi Chew?
Mr. Chew is not from China; he is from Singapore. He attended a top Chinese-language school where he learned to speak English and Mandarin fluently. He was a soldier in Singapore’s military before attending University College London to get a bachelor’s degree in economics.
Then he moved to the United States, went to Harvard Business School, got an MBA, and worked as an intern at Facebook when it was just starting. After he finished school, he worked at a company called DST, where he was in charge of a group that invested in ByteDance.
ByteDance bought the app Musical.ly in November 2017, and then it was combined with TikTok to make the famous app we use now.
The CEO also worked as an investment banker for two years at Goldman Sachs and held a high position at Xiaomi, a Chinese smartphone company. Then, in March 2021, he was made the chief financial officer of ByteDance. Two months later, he was made the CEO of TikTok.
Shou Zi Chew: Early Life And Education
Chew was born in Singapore on January 1, 1983. His father was a builder, and his mother kept the books.
Chew did his National Service as a Singapore Army commissioned officer after graduating from Hwa Chong Institution. After serving in the military, Chew went to University College London, where he got a Bachelor of Economics degree in 2006. He earned a Master of Business Administration from Harvard Business School in 2010 and interned at Facebook during the summer.
Shou Zi Chew: Career Details
Chew graduated from University College London in 2006. For two years after that, he worked as a banker at Goldman Sachs in London. Then, he joined DST Global, a venture capital company. In 2013, Chew led a group of early investors in ByteDance at DST Global.
In 2015, Chew became the company’s chief financial officer, which means he is in charge of the money. In 2019, he took over as head of Xiaomi’s foreign business.
Chew became ByteDance’s chief financial officer in March 2021. He then took over for Kevin A. Mayer as CEO of TikTok, who left the ByteDance unit after only three months. In March 2023, Chew appeared in front of the US Congress about a bill to ban TikTok in the US.
Shou Zi Chew’s Net Worth Is A Mystery
Shou’s net worth has never been made public, and it is unknown what it will be in 2023, but it will be in the millions. Some sites have said that the CEO of TikTok is worth $200 million, but this is not true and is not based on any proof.
TikTok is one of the biggest companies in the world right now, with more than a billion people who use it every month. This means that his net worth will be pretty big.
He didn’t really find TikTok, though. Forbes says that Zhang Yiming made and runs Bytedance and that he is worth a staggering $45 billion. Bloomberg gave ByteDance a value of $250 billion in 2021, likely to be much higher in 2023.
TikTok CEO Shou Zi Chew arrives on Capitol Hill ahead of today’s hearing. pic.twitter.com/4wW3Dnrv1f
— Grady Trimble (@Grady_Trimble) March 23, 2023
What Was Said In His Congress Appearance?
Mr. Chew spoke to the US Congress Energy and Commerce House Committee in a rare public visit. He said that the app’s top priority is to keep its young users safe and denied that it threatens national security.
He said, “ByteDance is not a Chinese or any other country’s service. Mr. Chew noted again that the company plans to protect the data of American users by keeping it all on servers handled and controlled by the big server company Oracle.
In her opening remarks, the committee chair, Cathy McMorris Rodgers, said that Mr. Chew was there because “the American people need to know the truth about the threat that TikTok poses to our national and personal security.” In his proof, Mr. Chew disproved the idea that the app’s owner was in and of itself a problem. He also stressed that “trust is about what we do.”
Mr. Chew said any security, privacy, or influence concerns raised about TikTok are not unique to us. “We have to earn that trust with the decisions we make for our company and products,” he said. “Fixing these problems is not mostly about taking responsibility,”
Its parent company, ByteDance, has already said that it fired four workers in 2022 for getting information on two journalists and people connected to them while they were looking for the person who leaked a report about the company. There have also been other problems with the platform, like how to get information and control the material.
For example, Republican House lawmaker Kat Cammack showed a TikTok video with a shooting gun and the name of the House committee holding the hearing before it was officially released. Ms. Cammack told Mr. Chew, “You want us to believe you can keep the data, privacy, and security of 150 million Americans safe when you can’t even keep the people in this room safe?”
Mr. Chew said that, besides an algorithm that flags content, there are about 40,000 censors who watch for dangerous content.
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Shou Zi Chew: Personal Life Details
Chew met his Taiwanese-American wife, Vivian Kao when they were both students at Harvard. They later got married and now have two children. The Guardian says that Chew doesn’t let his kids use TikTok because he thinks they are too young.
Congresswoman Nanette Barragán asked Chew on Thursday why he wouldn’t let his 8-year-old child use TikTok. Chew said, “I have read these news stories. Allow me to answer that. My kids live in Singapore, which doesn’t offer the under-13 experience.
I would let them use the under-13 training if they lived in the United States. In a November TV interview with The New York Times, Chew said, “We take the safety of children very seriously.” “When I took on this job, one of the first things I did was make sure that the safety of children was at the top of the list.” The Guardian says Chew is a Singaporean army reserve who speaks English and Mandarin fluently.
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