Trump Campaign Donor's $15-Billion TikTok Fortune At Stake Over Ban Bill
NDTV
The prospect that the app will be banned has thrust Jeff Yass, the trading mastermind behind market-maker Susquehanna International Group, into an uncomfortable spotlight.
As some of the harshest Republican critics of TikTok soften their stance on the China-backed social media app, one billionaire donor's name is ricocheting around Washington.
The prospect that the app will be banned has thrust Jeff Yass, the trading mastermind behind market-maker Susquehanna International Group, into an uncomfortable spotlight. That's because he owns a stake in TikTok's parent company, ByteDance, which is worth $15 billion, according to the Bloomberg Billionaires Index, the largest single asset in his $40.8 billion fortune.
Yass has used that wealth to become the biggest donor in the 2024 election cycle, with $46.4 million spent so far, mostly focused on the issue of school choice. He's also been mentioned as a possible candidate for Treasury secretary - along with hedge fund billionaire John Paulson and former US trade representative Robert Lighthizer - should Donald Trump win in November, according to people familiar with the matter.
