Shou Zi Chew is a well-known figure in the business world. He is known for his impressive achievements and important contributions to many different fields. As a successful business owner and financial expert, his successes have brought him a lot of attention and made people curious about his net worth.
In this answer, we’ll talk about how much Shou Zi Chew is likely to be worth in 2023. This will give you a better idea of his financial situation and career path.
Shou Zi Chew Net Worth 2023
In 2023, Shou’s net worth won’t have been publicly disclosed, but it will undoubtedly be in the millions. The TikTok executive’s wealth has been claimed by some websites to be $200 million, although this is not supported by any facts or data. TikTok is one of the biggest firms in the world right now with over one billion monthly active users, therefore his net worth will undoubtedly be significant.
He didn’t truly discover TikTok, though. Bytedance was founded and is owned by Zhang Yiming, whose net worth is an astounding $45 billion, according to Forbes. ByteDance was valued at $250 billion by Bloomberg in 2021, but two years later, that value is anticipated to rise sharply.
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What Was Said in His Congress Appearance?
In a rare public appearance, Mr. Chew answered questions from the US Congress’ Energy and Commerce House Committee. He claimed the app prioritizes the safety of its young users and refuted claims that it poses a threat to national security.
Unambiguously, he said, “ByteDance is not an agency of China or any other country. Mr. Chew reaffirmed the company’s intention to safeguard American user data by keeping it entirely on servers managed and controlled by the sizable server provider Oracle.
The committee’s chair, Cathy McMorris Rodgers, stated in her opening remarks that Mr. Chew was present “because the American people need the truth about the threat TikTok poses to our national and personal security.” In his evidence, Mr. Chew refuted the notion that the ownership of the app was a problem in and of itself and emphasized that “trust is about acts we take.”
Any security, privacy content, and manipulation issues voiced about TikTok are really not unique to us, Mr. Chew said. “We have to earn that trust with the decisions we make for our firm and our products,” he added. “Addressing these problems is not primarily about ownership,”
Its parent company, ByteDance, previously acknowledged terminating four employees in 2022 for gaining access to information on two journalists and people associated with them while looking for the author of a leaked report on the business. The platform has also been the subject of other issues, including access to information and content moderation.
For instance, before it was officially announced, Republican House lawmaker Kat Cammack showed a TikTok video with a shooting gun and the name of the House committee holding the hearing. Ms. Cammack addressed Mr. Chew, saying, “You expect us to think that you are capable of preserving the data security, privacy, and security of 150 million Americans when you can’t even safeguard the people in this room.”
Mr. Chew stated that there are approximately 40,000 moderators monitoring dangerous content in addition to an algorithm that flags material.
Shou Zi Chew’s Personal Life
While both were students at Harvard, Chew met his wife Vivian Kao, a Taiwanese-American. Later, the two got married, and they now have two kids. According to The Guardian, Chew doesn’t let his kids use TikTok because he thinks they’re too young for the social media platform.
When asked on Thursday by Congresswoman Nanette Barragán why he “would not permit his eight-year-old child to use TikTok, Chew responded: “I have read these news reports. Let me respond to that. My children reside in Singapore, where the under-13 experience is not available.
I would allow them to use the under-13 experience if they resided here in the United States.” Chew stated, “We take minor safety incredibly seriously,” in a November television interview with The New York Times. “When I embarked on this responsibility, one of the first things I made sure of was that minor safety was at the top of the agenda.” According to The Guardian, Chew is a Singaporean army reserve who speaks both Mandarin and English with ease.
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Shou Zi Chew Career
Shou Zi Chew began his career at Goldman Sachs in the investment banking division. After working at Goldman Sachs for a few years, he joined DST Global, a venture capital firm based in Hong Kong. While at DST Global, Shou Zi Chew was involved in several high-profile investments, including the Chinese smartphone maker Xiaomi.
In 2015, Shou Zi Chew left DST Global to join Xiaomi as its CFO. During his time at Xiaomi, he helped the company achieve significant growth and expand its business beyond China. In 2021, he was appointed as the CEO of ByteDance, the parent company of the popular social media app TikTok.
As CEO, Shou Zi Chew is responsible for overseeing the company’s global operations and strategic direction. He also holds the position of CFO at ByteDance, where he oversees the company’s financial operations.
