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Court records raise concerns about right-wing TikTok investor’s influence

Jeff Yass is a Pa. billionaire who has funded anti-LGBTQ causes

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Jeff Yass (Screen capture: Susquehanna International Group/YouTube)

The role played by Pennsylvania billionaire Jeff Yass in the creation of TikTok might be far greater than was previously understood, according to new reporting that raises questions about the extent of the right-wing megadonor’s influence over matters at the intersection of social media, federal regulations, and electoral politics.

In 2012, Yass’s firm, Susquehanna International Group, spent $5 million for 15 percent of the short-form video hosting platform’s Chinese-owned parent, ByteDance. In the years since, as TikTok grew from a nascent startup to a tech giant with 1.5 billion active monthly users and an estimated $225 billion valuation, Yass and his firm pocketed tens of billions of dollars.

Beyond the size of Susquehanna’s ownership stake, little was known about its relationship with ByteDance until documents from a lawsuit filed against the firm by its former contractors were accidentally unsealed last month, leading to new reporting by the New York Times on Thursday that shows Susquehanna was hardly a passive investor.

In 2009 the firm used a proprietary, sophisticated search algorithm to build a home-buying site called 99Fang, tapping software engineer and entrepreneur Zhang Yiming to serve as its CEO. The company folded. And then, per the Times’s review of the court records, in 2012 Susquehanna picked Yiming to be the founder of its new startup ByteDance and repurposed the technology from 99Fang for use in the new venture.

Importantly, the documents do not provide insight into Yass’s personal involvement in the formation of ByteDance. And Susquehanna denies that the company’s search algorithm technologies were carried over from the real estate venture — which, if true, would presumably undermine the basis for the lawsuit brought by the firm’s former contractors who are seeking compensation for the tech used by ByteDance.

Questions about Yass’s influence come at a pivotal political moment

In recent weeks, federal lawmakers have moved forward with a proposal that would force ByteDance to divest TikTok or ban the platform’s use in the U.S. altogether, citing the potential threats to U.S. national security interests stemming from the company’s Chinese ownership.

The bill was passed on March 13 with wide bipartisan margins in the House but faced an uncertain future in the Senate. However, on Wednesday, House Speaker Mike Johnson (R-La.) announced plans to fold the proposal into a measure that includes foreign aid to Ukraine, Israel, and Taiwan, likely bolstering its chances of passage by both chambers.

Last month, shortly after meeting with Yass at his home in Mar-a-Lago, former President Donald Trump changed his longtime stance and came out against Congress’s effort to break up or ban TikTok. The timing led to speculation about whether the billionaire businessman was behind Trump’s change of heart, perhaps by contributing to the cash-strapped Republican presidential nominee’s electoral campaign or through other means.

Meanwhile, Yass has emerged as the largest donor of the 2024 election cycle. A coalition of public interest and government watchdog groups have called attention to the vast network of right-wing political causes and candidates supported by the billionaire, often via contributions funneled through dark money PACs that are designed to conceal or obscure the identities of their donors.

The Action Center on Race and the Economy, Make the Road, POWER Metro: Faith in Action, Free the Ballot, and Little Sis launched a website called All Eyes on Yass that features research into the various causes he supports, along with insight into the networks connecting the entities funded by his contributions.

Broadly, in Pennsylvania they fall into five categories: Advocacy against reproductive freedom and LGBTQ rights via the Pennsylvania Family Institute, lobbying on behalf of oil and gas industry interests by the Pennsylvania Manufacturers’ Association, anti-union groups supported by Commonwealth Partners, a privately owned registered investment advisory firm/independent broker-dealer, the Commonwealth Foundation for Public Policy Alternatives, which seeks to privatize public schools and defeat proposed increases to the minimum wage, and the Citizens Alliance of Pennsylvania, which advocates for lowering taxes on corporations and the rich.

Additionally, All Eyes on Yass reports that the billionaire has given massive contributions to Club for Growth and direct spending to support the electoral campaigns of right-wing Republicans including Florida Gov. Ron DeSantis; U.S. Sens. Ted Cruz (Texas), Rand Paul (Ky.), and Josh Hawley (MO); U.S. Rep. Lauren Boebert (Colo.), and former U.S. Rep. Madison Cawthorn (N.C.).

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Congress

Top Congressional Democrats reintroduce Equality Act on Trump’s 100th day in office

Legislation would codify federal LGBTQ-inclusive non-discrimination protections

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Senate Democratic Leader Chuck Schumer (N.Y.) and Democratic members reintroduce the Equality Act, April 29 2025 (Washington Blade photo by Christopher Kane)

In a unified display of support for LGBTQ rights on President Donald Trump’s 100th day in office, congressional Democrats, including leadership from the U.S. House and U.S. Senate, reintroduced the Equality Act on Tuesday.

The legislation, which would prohibit discrimination on the basis of sexual orientation and gender identity, codifying these protections into federal law in areas from jury service to housing and employment, faces an unlikely path to passage amid Republican control of both chambers of Congress along with the White House.

Speaking at a press conference on the grass across the drive from the Senate steps were Senate Minority Leader Chuck Schumer (N.Y.), House Speaker Emerita Nancy Pelosi (Calif.), House Democratic Whip Katherine Clark (Mass.), U.S. Sen. Tammy Baldwin (Wis.), who is the first out LGBTQ U.S. Senator, U.S. Rep. Mark Takano (Calif.), who is gay and chairs the Congressional Equality Caucus, U.S. Rep. Chris Pappas (N.H.), who is gay and is running for the U.S. Senate, U.S. Sen. Cory Booker (N.J.), and U.S. Sen. Jeff Merkley (Ore.).

Also in attendance were U.S. Rep. Sarah McBride (Del.), who is the first transgender member of Congress, U.S. Rep. Dina Titus (Nev.), U.S. Rep. Mike Quigley (Ill.), and representatives from LGBTQ advocacy groups including the Human Rights Campaign and Advocates 4 Trans Equality.

Responding to a question from the Washington Blade on the decision to reintroduce the bill as Trump marks the hundredth day of his second term, Takano said, “I don’t know that there was a conscious decision,” but “it’s a beautiful day to stand up for equality. And, you know, I think the president is clearly hitting a wall that Americans are saying, many Americans are saying, ‘we didn’t vote for this.'”

A Washington Post-ABC News-Ipsos poll released Sunday showed Trump’s approval rating in decline amid signs of major opposition to his agenda.

“Many Americans never voted for this, but many Americans, I mean, it’s a great day to remind them what is in the core of what is the right side of history, a more perfect union. This is the march for a more perfect union. That’s what most Americans believe in. And it’s a great day on this 100th day to remind our administration what the right side of history is.”

Merkley, when asked about the prospect of getting enough Republicans on board with the Equality Act to pass the measure, noted that, “If you can be against discrimination in employment, you can be against discrimination in financial contracts, you can be against discrimination in mortgages, in jury duty, you can be against discrimination in public accommodations and housing, and so we’re going to continue to remind our colleagues that discrimination is wrong.”

The Employment Non-Discrimination Act, which was sponsored by Merkley, was passed by the Senate in 2013 but languished in the House. The bill was ultimately broadened to become the Equality Act.

“As Speaker Nancy Pelosi has always taught me,” Takano added, “public sentiment is everything. Now is the moment to bring greater understanding and greater momentum, because, really, the Congress is a reflection of the people.”

“While we’re in a different place right this minute” compared to 2019 and 2021 when the Equality Act was passed by the House, Pelosi said she believes “there is an opportunity for corporate America to weigh in” and lobby the Senate to convince members of the need to enshrine federal anti-discrimination protections into law “so that people can fully participate.”

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Politics

George Santos sentenced to 87 months in prison for fraud case

Judge: ‘You got elected with your words, most of which were lies.’

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Former U.S. Rep. George Santos (Washington Blade photo by Christopher Kane)

Disgraced former Republican congressman George Santos was sentenced to 87 months in prison on Friday, after pleading guilty last year to federal charges of wire fraud and aggravated identity theft. 

“Mr. Santos, words have consequences,” said Judge Joanna Seybert of the U.S. District Court for the Eastern District of New York. “You got elected with your words, most of which were lies.”

The first openly gay GOP member of Congress, Santos became a laughing stock after revelations came to light about his extensive history of fabricating and exaggerating details about his life and career.

His colleagues voted in December 2023 to expel him from Congress. An investigation by the U.S. House Ethics Committee found that Santos had used pilfered campaign funds for cosmetic procedures, designer fashion, and OnlyFans.

Federal prosecutors, however, found evidence that “Mr. Santos stole from donors, used his campaign account for personal purchases, inflated his fund-raising numbers, lied about his wealth on congressional documents and committed unemployment fraud,” per the New York Times.

The former congressman told the paper this week that he would not ask for a pardon. Despite Santos’s loyalty to President Donald Trump, the president has made no indication that he would intervene in his legal troubles.

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Congress

Democratic lawmakers travel to El Salvador, demand information about gay Venezuelan asylum seeker

Congressman Robert Garcia led delegation

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Andry Hernández Romero (photo credit: Immigrant Defenders Law Center)

California Congressman Robert Garcia on Tuesday said the U.S. Embassy in El Salvador has agreed to ask the Salvadoran government about the well-being of a gay asylum seeker from Venezuela who remains incarcerated in the Central American country.

The Trump-Vance administration last month “forcibly removed” Andry Hernández Romero, a stylist who asked for asylum because of persecution he suffered because of his sexual orientation and political beliefs, and other Venezuelans from the U.S. and sent them to El Salvador.

The White House on Feb. 20 designated Tren de Aragua, a Venezuelan gang, as an “international terrorist organization.” President Donald Trump on March 15 invoked the Alien Enemies Act of 1798, which the Associated Press notes allows the U.S. to deport “noncitizens without any legal recourse.”

Garcia told the Washington Blade that he and three other lawmakers — U.S. Reps. Maxwell Alejandro Frost (D-Fla.), Maxine Dexter (D-Ore.), and Yassamin Ansari (D-Ariz.) — met with U.S. Ambassador to El Salvador William Duncan and embassy staffers in San Salvador, the Salvadoran capital.

“His lawyers haven’t heard from him since he was abducted during his asylum process,” said Garcia.

The gay California Democrat noted the embassy agreed to ask the Salvadoran government to “see how he (Hernández) is doing and to make sure he’s alive.”

“That’s important,” said Garcia. “They’ve agreed to that … we’re hopeful that we get some word, and that will be very comforting to his family and of course to his legal team.”

The U.S. Embassy in El Salvador in 2023. (Photo courtesy of the U.S. Embassy of El Salvador’s Facebook page)

Garcia, Frost, Dexter, and Ansari traveled to El Salvador days after House Oversight and Government Reform Committee Chair James Comer (R-Ky.) and House Homeland Security Committee Chair Mark Green (R-Tenn.) denied their request to use committee funds for their trip.

“We went anyways,” said Garcia. “We’re not going to be intimidated by that.”

Salvadoran President Nayib Bukele on April 14 met with Trump at the White House. U.S. Sen. Chris Van Hollen (D-Md.) three days later sat down with Kilmar Abrego Garcia, a Maryland man who the Trump-Vance administration wrongfully deported to El Salvador on March 15.

Abrego was sent to the country’s Terrorism Confinement Center, a maximum-security prison known by the Spanish acronym CECOT. The Trump-Vance administration continues to defy a U.S. Supreme Court ruling that ordered it to “facilitate” Abrego’s return to the U.S.

Garcia, Frost, Dexter, and Ansari in a letter they sent a letter to Duncan and Secretary of State Marco Rubio on Monday demanded “access to” Hernández, who they note “may be imprisoned at” CECOT. A State Department spokesperson referred the Blade to the Salvadoran government in response to questions about “detainees” in the country.

Garcia said the majority of those in CECOT who the White House deported to El Salvador do not have criminal records.

“They can say what they want, but if they’re not presenting evidence, if a judge isn’t sending people, and these people have their due process, I just don’t understand how we have a country without due process,” he told the Blade. “It’s just the bedrock of our democracy.”

President Donald Trump greets Salvadoran President Nayib Bukele at the White House on April 14, 2025. (Public domain photo)

Garcia said he and Frost, Dexter, and Ansari spoke with embassy staff, Salvadoran journalists and human rights activists and “anyone else who would listen” about Hernández. The California Democrat noted he and his colleagues also highlighted Abrego’s case.

“He (Hernández) was accepted for his asylum claim,” said Garcia. “He (Hernández) signed up for the asylum process on an app that we created for this very purpose, and then you get snatched up and taken to a foreign prison. It is unacceptable and inhumane and cruel and so it’s important that we elevate his story and his case.”

The Blade asked Garcia why the Trump-Vance administration is deporting people to El Salvador without due process.

“I honestly believe that he (Trump) is a master of dehumanizing people, and he wants to continue his horrendous campaign to dehumanize migrants and scare the American public and lie to the American public,” said Garcia.

The State Department spokesperson in response to the Blade’s request for comment referenced spokesperson Tammy Bruce’s comments about Van Hollen’s trip to El Salvador.

“These Congressional representatives would be better off focused on their own districts,” said the spokesperson. “Instead, they are concerned about non-U.S. citizens.”

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