Jeffrey Steven Yass (born July 1958) is an American billionaire investor, entrepreneur, and political donor. He is the co-founder and managing director of Susquehanna International Group (SIG), a Philadelphia-based trading and technology powerhouse, and one of the largest investors in ByteDance, the parent company of TikTok. As of April 2024, his net worth stood at $27.6 billion, rising to $49.6 billion by September, making him the wealthiest resident of 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 |
Yass was born in July 1958 in Queens, New York, to Gerald and Sybil Yass, who were childhood sweethearts. Raised in a middle-class Jewish household, he attended public schools before graduating from Bayside High School in 1975. He went on to earn a bachelor’s degree in mathematics and economics from Binghamton University and later began graduate studies in economics at New York University, though he left before completing the program.
His mother passed away in 2001, and his father died in January 2024 at the age of 94. Yass has one sister, Carole.
Career and Business Ventures
Before entering finance, Yass built a reputation as a skilled gambler in poker and horse racing, a background that sharpened his analytical and risk management skills. In the late 1970s, while at Binghamton, he and five classmates founded what would eventually become Susquehanna International Group.
With sponsorship from trader Israel Englander and financial backing from his father, SIG began operations at the Philadelphia Stock Exchange. Over time, it evolved into one of the most influential trading firms in the U.S., known for its quantitative strategies and dominance in options and exchange-traded funds. By 2021, SIG handled nearly 10% of all ETF market-making volume.
Political Influence and Advocacy
Yass is one of the most influential political donors in the United States, with contributions largely supporting conservative and libertarian causes. He has donated millions to candidates and organizations aligned with free-market principles, school choice, and deregulation.
- Backed Rand Paul’s 2015 presidential campaign with $2.3 million.
- Donated over $25 million during the 2020 election cycle, ranking among the nation’s top political contributors.
- Provided $46 million to Republican causes by March 2024, though he has also supported centrist Democrats through the Moderate PAC.
- A leading advocate for school choice, Yass and his wife co-founded the Students First PAC and have donated tens of millions to related initiatives.
Internationally, he has funded right-wing Israeli think tanks such as the Kohelet Policy Forum and, according to The Guardian, contributed $16 million in 2024 to groups with anti-Muslim and pro-Israel agendas.
Yass has also attracted attention for his financial ties to TikTok’s parent company ByteDance, and for his role in shifting political stances on U.S. regulation of the platform.
Wealth and Taxes
As of 2022, Yass was the richest man in Pennsylvania. However, he has faced scrutiny for aggressive tax-minimization strategies at SIG. A 2022 ProPublica report suggested that between 2013 and 2018, he may have avoided paying nearly $1 billion in federal taxes through complex trading maneuvers that tested the limits of legality.
Philanthropy
Yass and his wife, Janine, are active philanthropists. They support causes ranging from education and science to community initiatives. After the September 11 attacks, he donated to relief efforts organized by the Port Authority of New York and New Jersey. He has also contributed to Save the Children, the Spirit of Golf Foundation, and the Franklin Institute.
In 2020, the couple launched the Yass Prize for Sustainable, Transformational, Outstanding, and Permissionless (STOP) education, which awards millions annually to innovative learning models. In 2022, the prize’s $1 million grand award went to Arizona Autism Charter Schools.
Personal Life
Jeffrey Yass lives in Haverford, Pennsylvania, with his wife, Janine Coslett. They have four children—two sons and two daughters. Despite his wealth and political influence, Yass maintains a relatively private lifestyle outside of his business and philanthropic pursuits.
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).
