Like horse racing, when it comes to social media companies, Yass rarely leaves his bets to chance.
It’s springtime in the United States, and the country’s social media landscape is budding with change. Lawmakers in the Senate are considering a bill that could ban TikTok, or force a divestment from its Chinese parent company ByteDance. Meanwhile, Donald Trump’s Truth Social is becoming a public company this week. But there’s one man who’s wrapped up in all of it: Jeff Yass, the richest man in Pennsylvania.
This relatively unknown billionaire, who has a huge chunk of his wealth tied up in TikTok, has a large influence over several politicians. Yass was considered a “Never Trumper” in 2016 and told the Wall Street Journal two years ago he was trying to discourage a 2024 Trump presidential run. Now, he’s had a change of heart, right as Trump is easing his hostility toward TikTok.
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A ban on TikTok would be a blow to local billionaire investor and GOP megadonor Jeff YassYass' firm reportedly has a 15% stake in TikTok's parent company. Yass has donated millions to a conservative group that opposes a ban.
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