While many billionaires have faced financial losses this year due to economic challenges, one Wall Street investor has seen his fortune skyrocket.
Jeff Yass, cofounder of Susquehanna International Group, has gained $17.2 billion in wealth in 2024, according to the Bloomberg Billionaires Index. This increase has raised his net worth from about $47 billion to $63 billion, making him the 23rd richest person in the world. In finance, he now ranks second only to Warren Buffett, who has gained $13.4 billion this year.
Unlike other billionaires who have seen their fortunes shrink—such as Elon Musk, who lost $113 billion due to Tesla’s stock decline—Yass has benefited from his early investment in ByteDance, the company behind TikTok. He owns around 7% of ByteDance, which has seen its valuation grow from $268 billion at the end of 2023 to about $312 billion. Some estimates now place ByteDance’s worth at over $400 billion. With the rising global influence of TikTok, ByteDance’s continued success ensures Yass’ wealth remains on an upward trajectory.
In addition to his ByteDance investment, Yass owns a majority stake in Susquehanna, a major trading and investment firm valued at nearly $50 billion. Regulatory filings show he holds more than 51% of the company. Susquehanna is known for its expertise in quantitative trading, options trading, and venture capital investments, further solidifying Yass’ presence in the financial sector.
Beyond finance, Yass is a key figure in political contributions, particularly as a major donor to Republican campaigns. He supported former President Donald Trump, who delayed the deadline for ByteDance to sell TikTok’s U.S. operations over national security concerns. Trump later opposed banning TikTok, citing potential backlash from young users and the risk of Meta gaining an even stronger foothold in the social media market. Yass’ political involvement has positioned him as a powerful figure influencing regulatory policies surrounding technology and business.
Meanwhile, Art Dantchik, another cofounder of Susquehanna and a ByteDance board member, has also seen his wealth grow. His net worth has increased by $6.5 billion this year, reaching nearly $17 billion, placing him 122nd on the billionaire rankings.
Yass, who was born to accountant parents, studied mathematics before spending time as a professional poker player in Las Vegas. His strategic gambling skills led him to options trading, and he later founded Susquehanna with other former poker players. The company maintains a gaming-focused culture, using strategy games, puzzles, and poker tournaments for employee training and engagement. This emphasis on analytical thinking has helped Susquehanna become one of the most successful trading firms in the world.
With his recent financial gains, Yass has strengthened his position among the world’s wealthiest individuals, expanding his influence in finance, technology, and politics. His continued involvement in ByteDance and strategic investments suggest that his wealth and power will only grow in the coming years.
Also Read: Trump Says TikTok Might Be Sold Soon—Four Buyers Interested
