ProPublica: TikTok Investor Jeff Yass Sidestepped $1B in Taxes

A low-profile Wall Street billionaire is back in the spotlight after ProPublica reported Jeff Yass, an early TikTok (ByteDance) investor, avoided paying “at least $1 billion” in federal income taxes over six years.

The tension is that Susquehanna International Group’s core business is high-speed trading, which typically generates short-term gains taxed at higher rates, yet ProPublica said Yass’ income was taxed largely at the lower long-term capital gains rate.

ProPublica tied its findings to IRS data, securities filings, court records, and interviews with former employees.

Yass’ politics add another flashpoint. Reuters reported he became one of the biggest donors in the 2024 cycle, giving more than $46 million to Republican causes.

Susquehanna, ProPublica reported, has disputed IRS claims in other cases and a spokesperson declined an interview and detailed comment.

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