Politics
Court records raise concerns about right-wing TikTok investor’s influence
Jeff Yass is a Pa. billionaire who has funded anti-LGBTQ causes

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.).
Congress
Congress passes ‘Big, Beautiful Bill’ with massive cuts to health insurance coverage
Roughly 1.8 million LGBTQ Americans rely on Medicaid

The “Big, Beautiful Bill” heads to President Donald Trump’s desk following the vote by the Republican majority in the U.S. House of Representatives Thursday, which saw two nays from GOP members and unified opposition from the entire Democratic caucus.
To partially offset the cost of tax breaks that disproportionately favor the wealthy, the bill contains massive cuts to Medicaid and social safety net programs like food assistance for the poor while adding a projected $3.3 billion to the deficit.
Policy wise, the signature legislation of Trump’s second term rolls back clean energy tax credits passed under the Biden-Harris administration while beefing up funding for defense and border security.
Roughly 13 percent of LGBTQ adults in the U.S., about 1.8 million people, rely on Medicaid as their primary health insurer, compared to seven percent of non-LGBTQ adults, according to the UCLA School of Law’s Williams Institute think tank on sexual orientation and gender identities.
In total, the Congressional Budget Office estimates the cuts will cause more than 10 million Americans to lose their coverage under Medicaid and anywhere from three to five million to lose their care under Affordable Care Act marketplace plans.
A number of Republicans in the House and Senate opposed the bill reasoning that they might face political consequences for taking away access to healthcare for, particularly, low-income Americans who rely on Medicaid. Poorer voters flocked to Trump in last year’s presidential election, exit polls show.
A provision that would have blocked the use of federal funds to reimburse medical care for transgender youth was blocked by the Senate Parliamentarian and ultimately struck from the legislation — reportedly after the first trans member of Congress, U.S. Rep. Sarah McBride (D-Del.) and the first lesbian U.S. senator, Tammy Baldwin (D-Wis.), shored up unified opposition to the proposal among Congressional Democrats.
Congress
Ritchie Torres says he is unlikely to run for NY governor
One poll showed gay Democratic congressman nearly tied with Kathy Hochul

Gay Democratic Congressman Ritchie Torres of New York is unlikely to challenge New York Gov. Kathy Hochul (D) in the state’s next gubernatorial race, he said during an appearance Wednesday on MSNBC’s “Morning Joe.”
“I’m unlikely to run for governor,” he said. ““I feel like the assault that we’ve seen on the social safety net in the Bronx is so unprecedented. It’s so overwhelming that I’m going to keep my focus on Washington, D.C.”
Torres and Hochul were nearly tied in a poll this spring of likely Democratic voters in New York City, fueling speculation that the congressman might run. A Siena College poll, however, found Hochul leading with a wider margin.
Back in D.C., the congressman and his colleagues are unified in their opposition to President Donald Trump’s signature legislation, the “Big Beautiful Bill,” which heads back to the House after passing the Senate by one vote this week.
To pay for tax cuts that disproportionately advantage the ultra-wealthy and large corporations, the president and Congressional Republicans have proposed massive cuts to Medicaid and other social programs.
A provision in the Senate version of the bill that would have blocked the use of federal funds to reimburse medical care for transgender youth was blocked by the Senate Parliamentarian and ultimately struck from the legislation, reportedly after pressure from transgender U.S. Rep. Sarah McBride (D-Del.) and lesbian U.S. Sen. Tammy Baldwin (D-Wis.).
Torres on “Morning Joe” said, “The so-called Big Beautiful Bill represents a betrayal of the working people of America and nowhere more so than in the Bronx,” adding, “It’s going to destabilize every health care provider, every hospital.”
Congress
House Democrats oppose Bessent’s removal of SOGI from discrimination complaint forms
Congressional Equality Caucus sharply criticized move

A letter issued last week by a group of House Democrats objects to Treasury Secretary Scott Bessent’s removal of sexual orientation and gender identity as bases for sex discrimination complaints in several Equal Employment Opportunity forms.
Bessent, who is gay, is the highest ranking openly LGBTQ official in American history and the second out Cabinet member next to Pete Buttigieg, who served as transportation secretary during the Biden-Harris administration.
The signatories to the letter include a few out members of Congress, Congressional Equality Caucus chair and co-chairs Mark Takano (Calif.), Ritchie Torres (N.Y.), and Becca Balint (Vt.), along with U.S. Reps. Nikema Williams (Ga.), Hank Johnson (Ga.), Raja Krishnamoorthi (Ill.), Delia Ramirez (Ill.), Joyce Beatty (Ohio), Lloyd Doggett (Texas), Eleanor Holmes Norton (D.C.), Josh Gottheimer (N.J.), and Sylvia Garcia (D-Texas).
The letter explains the “critical role” played by the EEO given the strictures and limits on how federal employees can find recourse for unlawful workplace discrimination — namely, without the ability to file complaints directly with the Employment Opportunity Commission or otherwise engage with the agency unless the complainant “appeal[s] an agency’s decision following the agency’s investigation or request[s] a hearing before an administrative judge.”
“Your attempt to remove ‘gender identity’ and ‘sexual orientation’ as bases for sex discrimination complaints in numerous Equal Employment Opportunity (EEO) forms will create unnecessary hurdles to employees filing EEO complaints and undermine enforcement of federal employee’s nondiscrimination protections,” the members wrote in their letter.
They further explain the legal basis behind LGBTQ inclusive nondiscrimination protections for federal employees in the EEOC’s decisions in Macy v. Holder (2012) and Baldwin v. Foxx (2015) and the U.S. Supreme Court’s decision in Bostock v. Clayton County (2020).
“It appears that these changes may be an attempt by the department to dissuade employees from reporting gender identity and sexual orientation discrimination,” the lawmakers wrote. “Without forms clearly enumerating gender identity and sexual orientation as forms of sex discrimination, the average employee who experiences these forms of discrimination may see these forms and not realize that the discrimination they experienced was unlawful and something that they can report and seek recourse for.”
“A more alarming view would be that the department no longer plans to fulfill its legal obligations to investigate complaints of gender identity and sexual orientation and ensure its
employees are working in an environment free from these forms of discrimination,” they added.