CEO of TikTok's net worth is a mystery but he’s certainly a multi-millionaire
Everyone wants to know more about TikTok CEO Shou Zi Chew as he testifies to the US House Energy and Commerce Committee, including his net worth.
The TikTok chief executive has hit headlines this week as he is due to testify before Congress as Capitol Hill today (March 23).
He wants to assure senators that the app is safe amid ongoing fears and calls to ban the video platform on devices in America.
Shou shared a video online earlier this week in which he thanked Americans TikTok users and announced his plans to speak in Washington DC.
Surprisingly, despite being the CEO of one of the world’s largest corporations, Shou Zi Chew’s net worth is a mystery…
Shou Zi Chew’s net worth is a mystery
Shou’s net worth has never been officially announced and is unknown in 2023, but it’s certainly going to be in the multi-millions.
Some sites have estimated the TikTok executive to be worth $200 million, although this isn’t based on any evidence or fact.
With over one billion monthly active users, TikTok is one of the biggest companies in the world right now, so his net worth will certainly be substantial.
However, he didn’t actually found TikTok. It’s Zhang Yiming who created and owns Bytedance and his net worth is a staggering $45 billion, Forbes reveals.
In 2021, Bloomberg valued ByteDance at $250 billion, which is expected to be substantially higher two years on.
Who is Shou Zi Chew?
Mr Chew is from Singapore, not China, and attended an elite Chinese-language school where he became fluent in English and Mandarin.
He spent time as an officer in Singapore’s armed forces before getting a bachelor’s degree in economics from University College London.
Then, he moved to the US and attended Harvard Business School, getting an MBA and interning at Facebook in its early days.
After finishing his studies, he worked at an investment firm called DST where he led a team which invested in ByteDance.
ByteDance acquired the app Musical.ly in November 2017 and then merged it with TikTok to create the app that’s popular today.
The CEO also worked as an investment banker at Goldman Sachs for two years and had a high role in Chinese smartphone giant Xiaomi.
Then, he became chief financial officer of ByteDance in March 2021 and was promoted to TikTok CEO two months later.
TikTok CEO to address Congress
Shou took to social media earlier this week to reveal his plans to address congress amid calls to ban TikTok in the US.
“Hi everyone! It’s Shou here, I’m the CEO of TikTok,” he said. “I’m here in Washington DC today and I have some US news and updates to share with everyone.”
He went on to thank the 150 million Americans who are on TikTok, which is almost half of the country and includes five million businesses.
The CEO added that there are 7,000 TikTok employees in the US too, whose jobs would be lost if TikTok was banned.
“Some politicians have started talking about banning TikTok,” Mr Chew continued. “Now this could take TikTok away from all 150 million of you.”
He then revealed that he will be testifying before Congress to share everything TikTok is doing to “protect Americans using the app”.
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