"Follow the money, folks. The biggest institutional investor in the Truth Social SPAC is Susquehanna Int’l Group. It was co-founded by GOP billionaire Jeffrey Yass, who is also a major investor in the parent of TikTok. Trump recently did a 180 on banning TikTok. Wonder why?"
Jeffrey S. Yass (born 1956) is an American billionaire businessman. According to Forbes, Yass had a net worth of $28.5 billion in 2023.[1] Yass is the richest man in Pennsylvania.
He is the co-founder and managing director of the Philadelphia-based Susquehanna International Group (SIG) and a major investor in TikTok.[2] In 2001, he joined the executive advisory council of the Cato Institute.
As of March 2024, he is the largest donor in the 2024 US election cycle, having donated $46 million to Republican groups and campaigns, primarily to rivals of Donald Trump.[2] After Yass and Trump met in March 2024, Trump went from supporting a ban on TikTok to opposing a ban.[2] At the same time, Yass's SIG bought a substantial share in Trump's company Truth Social, providing Trump with a massive influx of money at a time when he faced mountainous legal expenses.[3]
According to Israeli newspaper Haaretz, he is a major supporter of Israeli right-wing think tanks.[4]
The ability of billionaires to distort & undermine democracy troubles me. There seem to be more than few who share the views of Peter Thiel & who see it as a troublesome inconvience they can use their wealth to do away with.
These court cases and financial penalties are irrelevant now. With a clean $4 billion stake in a publicly listed company he can easily borrow enough to pay any conceivable fine even if he can’t sell any shares for now
Except who is going to accept those shares as security for real cash? Ff actual s.
Ps the hush money case starts 15 April.
The time is fast approaching btw when the world has to divide between those who find every reason to believe Trump can’t be stopped from controlling their lives and the rest of us who are democrats.
It’s shares in a public listed company - why wouldn’t they accept? Of course he won’t be able to borrow 100% LTV - there will be a discount but he’s still got $4 billion to play with - it won’t be a problem to raise hundreds of millions. There’s going to need to be penalties in the billions - before the election - to cause a problem for him.
Banks routinely lend vast sums of money to founders who pledge shares of illiquid private companies (eg that WeWork guy and many others). Public listed shares are no problem
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I mean I know what each individual word means?
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TrUtH
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all a bit odd
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Another massive grift from shitgibbon. Which crook bought the shares?
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If true that he can't sell his stock for 6 months then we need to check back in around September time.
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a buy recco from Dalek
let's circle back thursday and see how it's holding up
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"Follow the money, folks. The biggest institutional investor in the Truth Social SPAC is Susquehanna Int’l Group. It was co-founded by GOP billionaire Jeffrey Yass, who is also a major investor in the parent of TikTok. Trump recently did a 180 on banning TikTok. Wonder why?"
https://x.com/RBReich/status/1772666103073734849?s=20
Jeffrey S. Yass (born 1956) is an American billionaire businessman. According to Forbes, Yass had a net worth of $28.5 billion in 2023.[1] Yass is the richest man in Pennsylvania.
He is the co-founder and managing director of the Philadelphia-based Susquehanna International Group (SIG) and a major investor in TikTok.[2] In 2001, he joined the executive advisory council of the Cato Institute.
As of March 2024, he is the largest donor in the 2024 US election cycle, having donated $46 million to Republican groups and campaigns, primarily to rivals of Donald Trump.[2] After Yass and Trump met in March 2024, Trump went from supporting a ban on TikTok to opposing a ban.[2] At the same time, Yass's SIG bought a substantial share in Trump's company Truth Social, providing Trump with a massive influx of money at a time when he faced mountainous legal expenses.[3]
According to Israeli newspaper Haaretz, he is a major supporter of Israeli right-wing think tanks.[4]
https://en.wikipedia.org/wiki/Jeff_Yass
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So, Yass owns his ass
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The ability of billionaires to distort & undermine democracy troubles me. There seem to be more than few who share the views of Peter Thiel & who see it as a troublesome inconvience they can use their wealth to do away with.
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These court cases and financial penalties are irrelevant now. With a clean $4 billion stake in a publicly listed company he can easily borrow enough to pay any conceivable fine even if he can’t sell any shares for now
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Except who is going to accept those shares as security for real cash? Ff actual s.
Ps the hush money case starts 15 April.
The time is fast approaching btw when the world has to divide between those who find every reason to believe Trump can’t be stopped from controlling their lives and the rest of us who are democrats.
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You sound like a true believer.
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It’s shares in a public listed company - why wouldn’t they accept? Of course he won’t be able to borrow 100% LTV - there will be a discount but he’s still got $4 billion to play with - it won’t be a problem to raise hundreds of millions. There’s going to need to be penalties in the billions - before the election - to cause a problem for him.
Banks routinely lend vast sums of money to founders who pledge shares of illiquid private companies (eg that WeWork guy and many others). Public listed shares are no problem
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He isn’t allowed to sell or use the shares as collateral for six months unless the board vote to allow him to.
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His next court case awaits.
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