市場分析

Early TikTok Investor's $17B Surge Ranks Him Behind Warren Buffett in Wealth

Amos Simanungkalit · 14 Mar37.4K 閱讀

Image Credit: Business Insider

Many of the world's wealthiest individuals have seen their fortunes shrink this year as recession fears continue to weigh on stock markets. However, one Wall Street figure has experienced a remarkable rise, surpassing all others in wealth growth.

Jeff Yass, co-founder of Susquehanna International Group, has seen his net worth increase by an astonishing $17.2 billion this year, according to the Bloomberg Billionaires Index, making him the biggest wealth gain this year.

In contrast, prominent figures like Elon Musk, whose net worth has dropped by $113 billion due to a 39% plunge in Tesla’s stock, and others such as Larry Ellison, Jeff Bezos, Michael Dell, Larry Page, Sergey Brin, Jensen Huang, and Steve Ballmer, have all seen at least $12 billion of their wealth evaporate.

Yass' wealth surge has lifted his fortune from about $47 billion to $63 billion, making him the 23rd richest person on the list. He is now the richest person in finance, just behind Warren Buffett, who has gained $13.4 billion this year.

Yass' remarkable financial growth stems from an early investment in ByteDance, the parent company of TikTok. He still holds about 7% of ByteDance, which recently raised its valuation to $312 billion, up from $268 billion at the end of 2023. Investors like SoftBank, Fidelity, and T. Rowe Price have raised their internal valuations to over $400 billion, suggesting that Yass’ stake may have increased by around 50% in just over a year.

Additionally, Susquehanna itself is valued at nearly $50 billion, and Yass owns more than 51% of the firm, according to regulatory filings. He did not respond to a request for comment.

A major Republican donor who supported former President Donald Trump, Yass has benefited from Trump’s decision to extend the deadline for ByteDance to sell TikTok’s US operations due to national security concerns. Trump had previously stated that banning TikTok would drive young Americans "crazy" and that he didn’t want Meta’s Facebook to dominate the space.

Art Dantchik, another co-founder of Susquehanna, has also seen his wealth rise by $6.5 billion this year, bringing his total to nearly $17 billion, placing him at 122nd on the wealth list.

Yass, who is 66, was raised by two accountants and majored in mathematics. He spent around 18 months in Las Vegas playing poker before transitioning to independent options trading. Realizing the sector's potential, he recruited his college poker friends to work at his firm.

Games continue to be a core part of Susquehanna's culture, with employees enjoying board game nights, puzzles, and an annual poker tournament. The company also uses strategy games to teach new employees key lessons.