Jeffrey Steven Yass (born July 1958) is an American billionaire businessman and political donor. He is the co-founder and managing director of Susquehanna International Group (SIG), a Philadelphia-based trading and technology firm, and a major investor in TikTok.
According to Forbes, as of April 2024, Yass had a net worth of $27.6 billion, which increased to $49.6 billion by September 2024, making him the richest man in Pennsylvania.
Early Life and Education
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| Born | July 1958 (age 66) New York City, US |
| Education | Binghamton University (BA) New York University |
| Political party | Registered Libertarian; donates primarily to Republican candidates and causes |
| Spouse | Janine Coslett Yass |
| Children | 3 |
Jeffrey Steven Yass was born in July 1958 in Queens, New York City, where he was raised in a middle-class Jewish family. His parents were Gerald Yass and Sybil Yass, who were childhood sweethearts. He has a sister named Carole.
His mother, Sybil, passed away in December 2001, and his father, Gerald, died on January 6, 2024, at the age of 94 in Boca Raton, Florida.
Yass attended public schools in Queens and graduated from Bayside High School in 1975. He earned a Bachelor of Science degree in mathematics and economics from Binghamton University. He later pursued graduate studies in economics at New York University but did not complete the program.
Career
While attending the State University of New York at Binghamton in the 1970s, Jeffrey Yass, along with five fellow students, co-founded Susquehanna International Group (SIG), which has grown to become the largest trader of liquid stocks in the United States.
Before establishing his trading firm, Yass was a professional gambler during the 1970s and early 1980s, earning significant winnings from poker and horse betting.
Trader Israel Englander sponsored Yass for a seat on the Philadelphia Stock Exchange, where SIG initially operated from an office. His father, Gerald Yass, also contributed to the founding of the company.
As of 2021, SIG was responsible for nearly one-tenth of the market-making trade volume in exchange-traded funds.
Political Activities
Jeffrey Yass has been a significant contributor to political causes, primarily supporting conservative and libertarian groups.
In 2015, he donated $2.3 million to a super PAC backing Rand Paul's presidential campaign. Yass and his wife contributed over $5 million during the 2016 election cycle. His donations to the Club for Growth totaled $3.8 million in 2018 and surged to $20.7 million in 2020. During the 2020 election cycle, he ranked among the top ten political donors in the U.S., contributing $25.3 million exclusively to Republican candidates, including 47 lawmakers who opposed certifying the 2020 presidential election results.
In the 2022 primaries, Yass spent at least $18 million, including support for Republican Bill McSwain's unsuccessful bid for Pennsylvania governor. While predominantly supporting Republicans, he also donated $1 million to the Moderate PAC, which backed centrist Democratic incumbents against progressive challengers during the 2024 cycle. By March 2024, Yass had donated $46 million to Republican causes.
Yass and his wife, Janine, are prominent advocates for school choice. They have donated tens of millions to the cause, including $5 million to the School Freedom Fund PAC in 2021 and $41.7 million to the Students First PAC from 2010 to 2022, which Yass co-founded.
Yass, a major investor in TikTok's parent company ByteDance, has also been linked to efforts opposing U.S. restrictions on TikTok. After a March 2024 meeting between Yass and Donald Trump at a Club for Growth event, Trump shifted from supporting a TikTok ban to opposing it. At the same time, SIG, Yass's firm, had been acquiring shares in Digital World Acquisition Corp. (DWAC), which merged with Trump Media & Technology Group in 2024, providing Trump with a significant financial boost amid mounting legal expenses. SIG has since sold its DWAC shares and liquidated short positions.
Internationally, Yass has contributed significantly to Israeli right-wing think tanks, including funding the Kohelet Policy Forum. In April 2024, The Guardian reported that Yass donated $16 million to anti-Muslim and pro-Israel groups.
Wealth and Taxes
As of 2022–2023, Jeffrey Yass was the wealthiest resident of Pennsylvania.
In 2022, ProPublica reported that Yass engaged in tax avoidance through trading strategies employed by Susquehanna International Group (SIG) that "push legal boundaries" to minimize tax liability. The investigation, based on tax returns, court documents, and securities filings, estimated that if Yass had paid taxes at rates comparable to his peers, such as Ken Griffin, John Overdeck, and David Siegel, he would have paid approximately $1 billion more in federal income taxes between 2013 and 2018.
Recognition
In 2001, Yass was recognized as one of Philadelphia Magazine's 76 Revolutionary Minds.
Personal Life
Jeffrey Yass is married to Janine Coslett. The couple resides in Haverford, Pennsylvania, within Lower Merion Township. They have four children, including two sons and two daughters.
Philanthropy
Following the September 11 attacks in 2001, Yass contributed to a charitable fund established by the Port Authority of New York and New Jersey to support victims. His philanthropic contributions have also supported organizations such as Save the Children, the Spirit of Golf Foundation, the People's Emergency Center Families First building, and the Franklin Institute’s Franklin Family Funfest Committee.
Yass and his wife founded the Yass Prize for Sustainable, Transformational, Outstanding, and Permissionless (STOP) education, launched during the COVID-19 pandemic. The initiative rewards innovative, non-traditional educational models. In 2022, the Yass Prize awarded over $20 million, including a $1 million grand prize to Arizona Autism Charter Schools for their individualized learning programs.
References
- About - stop for Education (2024) STOP for Education - STOP for Education. Available at: https://stopforeducation.org/about/ (Accessed: 09 January 2025).
- Billionaire Jeff Yass increased Susquehanna’s position in Nvidia’s largest competitor by 94%. Time to buy? (no date) Yahoo! Finance. Available at: https://finance.yahoo.com/news/billionaire-jeff-yass-increased-susquehannas-130000043.html (Accessed: 09 January 2025).
- Jeff Yass (no date) Forbes. Available at: https://www.forbes.com/profile/jeff-yass/?list=rtb%2F (Accessed: 09 January 2025).
- schwartzbCNBC (2024) Republican megadonor Jeff Yass, inner circle give millions to shape schools, courts, CNBC. Available at: https://www.cnbc.com/2024/04/09/jeff-yass-millions-to-influence-schools-courts-and-markets.html (Accessed: 09 January 2025).
