TikTok star and startup founder Jay Wey is one of those who goes against all odds. Born and raised in California, Wey, 31, earns $120,000 by making videos for TikTok. And yet, he lives with his mom in his childhood home.
Wey said in an interview with CNBC Make It that all his travel and insurance is paid for through work as he lives with his mother instead of spending a lot of money for rent. An also, instead of taking a salary in his wireless technology startup called Ubiik, he receives equity in the company.
The entrepreneur says it's normal in Asian culture to live with parents as people are "not burdening" for that. He added:
It's a sense of having an obligation to take care of them.
Wey notes that the amount he earns each month varies as it mainly depends on how many jobs he decides to take on. On average, he makes about $10,000. Despite having millions of followers on social media, he considers TikTok to be just a side hustle.