The options guru’s Susquehanna International Group oversees a 15% stake in TikTok parent ByteDance. As the social media company stares down a potentially devastating US sale, he’s found an unlikely champion in the former president, who tried to ban the app four years ago.
The 68-year-old investor is the single biggest political donor this cycle. He built his nearly $30 billion fortune by applying the skills he honed as a professional gambler in the 1970s and ’80s. His backstory sounds like a pitch that’s Rounders meets Moneyball. Yass grew up middle-class in Queens and displayed a preternatural talent for odds-making during weekends at the horse track with his accountant father. In his 20s, Yass formed the nucleus of a professional poker-playing clique.
Trump had already proved he could tank legislation: In January, Trump browbeat Republicans until they scuttled a bipartisan immigration bill. Trump needed money—bad. Gambling is all about understanding your opponent’s weakness. In April, NPR reported that the Trump campaign had nearly $100 million less cash on hand than the Biden campaign. Trump dethroned Republican National Committee chair Ronna McDaniel in part because of weak fundraising.
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