Who is Jeff Yass? The billionaire donor with investments in TikTok’s parent company
In the pitched battle between TikTok and Washington, few people stand to lose more than Jeff Yass, an American billionaire options trader who has emerged in recent years as a major donor to Republican candidates and causes.
In the pitched battle between TikTok and Washington, few people stand to lose more than Jeff Yass, an American billionaire options trader who has emerged in recent years as a major donor to Republican candidates and causes.
Yass co-founded the Philadelphia-based trading firm Susquehanna International Group, which owns a 15% stake in TikTok’s China-based parent company, ByteDance. Yass’ personal share is 7%, worth roughly $21 billion.
Yass’ investment is under threat today, and the typically press-shy billionaire is taking fire from both the left and the right. Critics accuse Yass of bankrolling an army of lobbyists and orchestrating a bare-knuckle pressure campaign to protect TikTok — including by leveraging his nascent relationship with former President Donald Trump.
Through a spokesperson, Yass declined to comment on this story.
On Wednesday, the House is expected to pass bipartisan legislation that would force ByteDance to divest TikTok within a matter of months. President Joe Biden said that he would sign it into law if the bill wins Senate approval.
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