Singaporean businessman and entrepreneur Shou Zi Chew has been running TikTok as its CEO since the company was founded in 2021. Following his 2006 graduation from University College London, Chew spent two years as a banker at Goldman Sachs in London before joining DST Global as an investor.
In 2013, Chew oversaw a group of early investors in ByteDance while at DST Global. Chew became the chief financial officer of Chinese smartphone manufacturer Xiaomi in 2015. Due to such roles, Shou Chew has earned a massive net worth.
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How Much Is The Wealth Of Shou Chew?
TikTok’s CEO, Shou Chew, testified before the United States Congress on Thursday, March 23, to argue against a blanket ban of the app. In the last two months, numerous states in the United States have banned the popular short video-sharing app from government devices and educational institutions.
The Chinese government has been allegedly spying on the United States of America through user data obtained from TikTok, a video-sharing platform, according to many lawmakers’ fears and rumors.
Lawmakers in the country have also complained that users’ data is not secure within the app. TikTok is owned by Beijing-based company ByteDance, which has consistently denied allegations of privacy violations. Chew also made an appearance, during which he boasted that the app takes greater precautions to safeguard user information than do other major social media apps.
Concerns regarding the app’s control by the Chinese Communist Party were voiced by House Energy and Commerce Committee members on Thursday. In his testimony before Congress, Shou Chew, who is worth an estimated $200 million, told Pennsylvania Representative John Joyce:
“I disagree with that characterization. I think the government devices should have no social media apps to be honest, not just targeted at us.”
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CEO Shou Chew Says That It Is Not True That TikTok Takes Down Or Promotes Content From The Chinese Communist Party
As reported by CNBC, legislators from both parties questioned TikTok’s CEO on whether or not the Chinese-owned app can adequately safeguard user data in the United States.
Shou Chew also told congressman Randy Weber that the app doesn’t promote or take down any content for the Chinese Communist Party, saying: “We do not promote or remove any content on behalf of the Chinese government. There is content on TikTok that is critical of China.” Weber responded by accusing TikTok’s CEO of brainwashing American youth with “woke propaganda.”
Nanette Barragán, a member of Congress, asked Shou Chew if he would let his 8-year-old child use the app. Chew said that his children live in Singapore, where they don’t have the kind of under-13 experience that the app offers. He went on to say that if his family had been American, he would have let his children participate in the under-13 program.
Shou Chew, CEO of ByteDance, the company that developed the app, denied that the company had spied on Americans at the request of the Chinese Communist Party when asked by Florida Representative Neal Dunn. You can check the official tweet by Now This News below.
Is TikTok about to be banned in the United States? Here’s what you need to know about the potential ban and what it could mean if it happens. pic.twitter.com/J4tPhUX04B
— NowThis (@nowthisnews) March 27, 2023
TikTok has more than 150 million users in the United States alone. After what happened on Thursday, everyone is waiting to see if Joe Biden’s administration will do what India did and ban the popular app everywhere.
The CEO continued by discussing Project Texas, a groundbreaking program designed to protect sensitive user information and vital national security interests in the United States. The initiative was started to deal with important issues like corporate governance, data security, system access, content moderation, and recommendation.
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