Billionaire Wall Street Financier and Republican Megadonor Invests in TikTok Parent Company
Jeff Yass, a billionaire Wall Street financier and Republican megadonor, has been revealed as a major investor in the parent company of TikTok. Yass, who is also the biggest institutional shareholder of the shell company that recently merged with former President Donald J. Trump’s social media company, has made headlines with his involvement in these high-profile investments.
Yass’s trading firm, Susquehanna International Group, owned about 2 percent of Digital World Acquisition Corp., which recently merged with Trump Media & Technology Group. The stake was valued at approximately $22 million based on Digital World’s last closing share price. It remains unclear if Susquehanna still holds these shares, as big investors only disclose their holdings to regulators periodically. If the stake is still intact, Yass’s firm would become one of Trump Media’s larger institutional shareholders.
The merger with Digital World has proven to be a lucrative move, as shares of the company have surged approximately 140 percent this year. This increase in value has been attributed to the merger with the parent company of Truth Social, as well as Trump’s status as the presumptive Republican nominee for president.
Trump Media & Technology Group is set to begin trading this week following the completion of the merger. With Jeff Yass’s significant investment in the company, all eyes will be on the performance and future of this new venture in the social media landscape.
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