The billionaire co-founder of Susquehanna Worldwide Group (SIG) – who has a $21 billion stake in TikTok – has positioned his guess on the winner of this 12 months’s presidential election.
Jeff Yass – a talented poker participant with a eager sense for getting massive returns on his investments – is at present the richest man in Pennsylvania with a private fortune of $47 billion.
Yass has doled out a few of his fortune to numerous organizations and has turn into one of many largest backers of the antitax political advocacy group Membership for Progress.
The billionaire is rumored to be in consideration for a possible spot within the presidential cupboard, if his predicted winner comes out on high: Donald Trump.
His political fortunes will not be a shock for individuals who know Yass, however his help for Trump comes as a shock to these aware of the businessman’s onetime opinions of presidential candidate.
Jeff Yass, a businessman and co-founder and managing director of Susquehanna Worldwide Group (SIG), is supporting Donald Trump within the 2024 election
The help comes as a shock following his statements towards Trump throughout an interview with the Wall Avenue Journal in 2022
‘He doesn’t have any donors. He doesn’t want the cash. He will get a lot free publicity,’ Yass informed the Wall Avenue Journal in 2022.
‘It’s not like you’ll be able to affect him in any respect. The one factor you’ll be able to attraction to is, ‘You’re gonna lose and be humiliated.’
A New York native, Yass wrote his thesis concerning the ethics of choices buying and selling whereas attending SUNY Binghamton.
He studied economics and math whereas having enjoyable enjoying poker and backgammon.
Throughout that point, he and his school buddies Steve Bloom, Eric Brooks, Andrew Frost, and Joel Greenberg created SIG, which has since turn into a know-how agency empire value virtually $67 billion on the finish of March.
SIG additionally invested in 2012 and now owns a 15 % stake in TikTok’s China-based guardian firm, ByteDance.
Yass wrote his thesis concerning the ethics of choices buying and selling whereas attending SUNY Binghamton. He attended New York College for graduate research, however he did not graduate
SIG invested in TikTok’s China-based guardian firm, ByteDance in 2012. Trump was for the TikTok ban till March 2024 after assembly with Yass
Yass and Trump’s rising affiliation had an opportunity to come back to an finish as a result of president-elect supporting a TikTok ban within the US.
Nonetheless, that swiftly modified final March after shares of Digital World Acquisition Company jumped 30 %.
Digital World Acquisition Company merged with the previous president’s Media & Expertise Group earlier that month, a giant a part of that was as a consequence of Yass.
The share leap helped in mountaineering up Trump’s web value to $6.5 billion and placing him on Bloomberg’s listing of the five hundred richest folks for the primary time.
Simply after Trump’s historic monetary successes, he reversed his place on banning TikTok, the reason is that it might empower Fb, which he mentioned was the ‘enemy of the folks.’
Yass is at present one of many high contenders to be named Trump’s treasury secretary if he wins the 2024 election
Yass, who’s been a registered libertarian since 1996, has political opinions that haven’t come with out controversy.
The businessman has spent thousands and thousands of {dollars} funding politicians who give attention to minimizing authorities involvement in areas akin to taxes, buying and selling, training, and gaming.
Trump is a kind of politicians, and the donation even led to Yass not receiving an invitation to the annual financial retreat hosted by Membership for Progress in 2023 as a result of group shunning the previous president.
Nonetheless, Trump claimed that he and the Membership for Progress are ‘again in love’ and his assembly with Yass at one of many group’s retreats came about proper earlier than his place reversal over the TikTok ban.
Marketing campaign spokesperson Steven Cheung maintains that there have been ‘no discussions of who will serve in a second Trump administration.’
