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Philanthropy leader at Warren Buffett and Bill Gates’ Giving Pledge says children of billionaires are pushing them to give their wealth away faster

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MacKenzie Scott alone accounted for one-third of America's $19.2 billion in megagifts last year

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Now worth $200 million, Sarah Jessica Parker credits being ‘one of eight kids that struggled financially’ for her hunger, ambition, and work ethic

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Philanthropy leader at Warren Buffett and Bill Gates’ Giving Pledge says children of billionaires are pushing them to give their wealth away faster

2

MacKenzie Scott alone accounted for one-third of America's $19.2 billion in megagifts last year

3

Now worth $200 million, Sarah Jessica Parker credits being ‘one of eight kids that struggled financially’ for her hunger, ambition, and work ethic
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Teenage TikTok addict says U.S. ban gave her hope: ‘This app has pervaded every corner of our consciousness’

Jason Ma
By
Jason Ma
Jason Ma
Weekend Editor
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Jason Ma
By
Jason Ma
Jason Ma
Weekend Editor
Down Arrow Button Icon
January 19, 2025, 12:52 PM ET
According to a Pew Research report in December 2023, 63% of U.S. teens said they used TikTok.
According to a Pew Research report in December 2023, 63% of U.S. teens said they used TikTok.Getty Images
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  • TikTok briefly went dark as the U.S ban took effect this weekend, but not all its devoted users lamented its disappearance from their lives. In a New York Times op-ed, a high schooler who described herself as a TikTok “junkie” said the ban gave her hope.

After months of wondering if TikTok will actually go away, the app briefly went dark as the U.S ban took effect this weekend. But not all its devoted users lamented its short-lived disappearance from their lives.

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Late Saturday night, TikTok suspended service in the U.S. ahead of a Sunday deadline, and third-party platforms removed it from their app stores. By midday Sunday, however, TikTok said it was restoring service.

TikTok had become a daily routine for many users, but for others, it was seeping into their lives too much.

Juliet Weisfogel, a 17-year-old student at Trevor Day School in New York City, welcomed the TikTok ban in a New York Times op-ed on Sunday.

“I love TikTok so much that I cannot imagine a life without it,” she wrote. “And yet I desperately need a life without it.”

The ban, which was signed into law last year, cited national-security concerns and requires China-based parent company ByteDance to sell TikTok to a U.S. buyer or face a ban.

While some U.S. investors have made offers, ByteDance has said it won’t sell. Still, President-elect Donald Trump vowed to issue an executive order when he takes office on Monday to restore TikTok and give ByteDance more time to reach a deal.

According to a Pew Research report in December 2023, 63% of U.S. teens said they used TikTok, with 68% of girls saying they use it versus 59% of boys. And among the teenage TikTokers, 17% said they used it “almost constantly.”

Meanwhile, more than a dozen states sued TikTok in October, saying the company intentionally made the app addictive for children and teens. TikTok forcefully denied the claims and pointed to its robust safeguards.

Ahead of the TikTok ban, many Americans began seeking alternatives and downloaded the Chinese-language social media app RedNote, prompting them to sign up for Duolingo to learn Mandarin.

But other apps lack TikTok’s algorithm, which is the closely guarded secret sauce that figures out exactly what users want to see next. For others on TikTok, the stakes are high in another way, as many influencers rely on it to make a living.

Sarah Perl, who has 2.5 million followers on the app, told Fortune’s Chloe Berger that the bulk of her fame and revenue came from TikTok.

“Never in history has there been a time as easy as now to within a year make $10,000 a month off of business,” she said.

About the Author
Jason Ma
By Jason MaWeekend Editor

Jason Ma is the weekend editor at Fortune, where he covers markets, the economy, finance, and housing.

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