Jeff Yass, Pennsylvania's richest man, is a large investor in TikTok.
Forbes estimatesTrump’s apparent help to protect the app from a U.S. government ban is a reversal of the ex-president’s previous stance.
His recent flip-flop represents the continuation of an awkward but potentially symbiotic relationship between Trump and Yass, a prolific politicalNeither the special counsel for Susquehanna nor a spokesperson for Yass responded to requests for comment before publication Friday. Bipartisan American legislators are concerned about closeness between the Chinese government and TikTok’s owners. The FBI and Federal Communications Commissionthat TikTok may be forced to comply with orders to share personal user information with the Chinese government. TikTok has also been accused of using its algorithm to spread misinformation,
Yass’ involvement in TikTok began more than a decade ago when, in 2012, his firm became an early investor in ByteDance. The company has since seen an exponential return, as TikTok has become among the world’s most downloaded apps., which merged in March with Trump’s social media company, Truth Social. Susquehanna said it shorted an equal value of shares, and made the share purchase, not as an investment, but in order to serve as a market-maker when the company became publicly-traded.
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