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 approva
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