Jeff Yass,Tiktok investor and Trump media

  

The richest man in Pennsylvania has big stakes in TikTok’s parent company and the new Trump Media


In the United States, the social media scene is undergoing a transformation as spring approaches. A bill that may outlaw TikTok or compel the business to sell from its Chinese parent company ByteDance is being considered by senators. In the meantime, Truth Social, owned by Donald Trump, is set to go public this week. The richest man in Pennsylvania, Jeff Yass, is the one who is entangled in it all.


Over half of the Philadelphia billionaire's net worth is invested in TikTok's parent firm, which is worth $21 billion. Susquehanna International Group, his investment firm, has the largest institutional stake in the business that merged with Donald Trump's social networking company in December. That is, if he hasn't sold any shares subsequently, according to the most recent public disclosures. When the acquisition closes on Tuesday, Yass will own a $22 million share in Trump Media.


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