Yass' firm reportedly has a 15% stake in TikTok's parent company. Yass has donated millions to a conservative group that opposes a ban.
Yass' firm reportedly has a 15% stake in TikTok's parent company. Yass has donated millions to a conservative group that opposes a ban.Congress’ move toward potentially banning TikTok is likely to disappoint millions of Americans who enjoy using the video-sharing app — and also a billionaire investor in the Philadelphia suburbs who’s one of the biggest GOP donors in the country.
The club hosted former President Donald Trump at a donor retreat earlier this month, after which he came out against the legislation. Trump spoke with Yass about school choice — Yass’ biggest political interest — during a cocktail party at the retreat, according to a person familiar with the matter. Trump said on CNBC this week that the two didn’t discuss TikTok.The bill’s future in the Senate is uncertain, but President Joe Biden has said he would sign it into law if it reaches his desk.
“I’ve supported libertarian and free market principles my entire adult life,” Yass, 65, told the Wall Street Journal last year. “TikTok is about free speech and innovation, the epitome of libertarian and free market ideals. The idea of banning TikTok is an anathema to everything I believe.”
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