Copyright The Philadelphia Inquirer
Jeffrey Yass, Pennsylvania’s richest man, donated at least $2.5 million to President Donald Trump’s proposed White House ballroom with the undisclosed contribution coming as the billionaire has business in front of the Trump administration. The GOP megadonor personally made the donation as Trump mulls the fate of TikTok in the United States. The financier is a major investor in TikTok’s China-based parent company, ByteDance, and could benefit from a deal, supported by Trump to keep the popular social media video app operational in the U.S., The New York Times reported. Yass joined Comcast and dozens of other corporations, foundations, and individuals in backing Trump’s controversial project to construct a ballroom where the East Wing of the White House once stood. Meanwhile, ethics experts have speculated whether donors to the venue are seeking special treatment from the president. Yass’ donation was one of several not disclosed by the White House, all of which have business before the Trump administration , according to the NYT. Representatives for Yass did not immediately respond to a request for comment. Susquehanna International Group, Yass’ trading firm headquartered in Bala Cynwyd, is a top stakeholder in ByteDance. A deal to keep TikTok operational in the U.S. went unresolved last week after Trump and Xi Jinping, China’s leader, met in South Korea. The Trump administration had previously signaled that a deal was being finalized, The New York Times reported. The battle for TikTok to remain available in the U.S. has become a prolonged saga. Congress passed a law last year, with bipartisan support, instructing ByteDance to sell TikTok to a non-Chinese company or cease operations in the U.S. by Jan. 19. The law cited national security concerns. Trump began supporting a TikTok deal in late 2024 after a meeting with Yass, creating speculation as to whether the billionaire influenced the president’s change of heart. Since beginning his second term, Trump has continuously extended this enforcement deadline. He declared the latest extension on Sept. 25, giving parties until Dec. 16 to reach a deal. Yass attended a thank-you dinner for donors last month at the White House, alongside Tony Sayegh, who served in the first Trump administration and now works for Susquehanna, The Times reported. Yass, one of Pennsylvania’s most impactful political donors, recently, through the Commonwealth Leaders Fund helped pay for misleading mailers for the Pennsylvania Supreme Court race. He also backed Republican Attorney General Dave Sunday during his successful bid to be Pennsylvania’s top prosecutor.
