- By Shivangi Sharma
- Mon, 05 May 2025 11:12 PM (IST)
- Source:JND
Jeff Yass, a low-profile yet massively influential billionaire from Haverford, Pennsylvania, has been named the richest person in the state, according to Forbes' latest 2025 rankings. With a staggering net worth of USD 59 billion, Yass isn’t just the wealthiest Pennsylvanian, he’s also the 25th richest person in the world. His fortune comes primarily from his role as co-founder and managing director of Susquehanna International Group (SIG), one of Wall Street’s most powerful trading and technology firms.
From Poker Tables To Financial Powerhouse
Born in 1958 in Queens, New York, Yass grew up in a middle-class Jewish family. He attended public schools and graduated from Bayside High School before earning a degree in mathematics and economics from Binghamton University. Interestingly, his early foray into high-stakes decision-making began not on Wall Street, but at the poker tables. Yass was a professional gambler before launching SIG, using his skills in probability and risk to win in poker and horse betting.
Rise Of Susquehanna International Group
In the early 1980s, Yass and five fellow Binghamton students co-founded Susquehanna International Group (SIG). With the help of billionaire trader Israel Englander, who sponsored him for a seat on the Philadelphia Stock Exchange, Yass set up operations at the Exchange itself. His father, Gerald Yass, a CPA, was instrumental in building the firm’s back-office functions. SIG has since grown to handle about 10 per cent of the trade volume in exchange-traded funds (ETFs), cementing its place among the giants of the financial industry.
Political Influence
Yass is known for his libertarian political leanings and has poured millions into conservative super PACs, including Club for Growth Action and the Protect Freedom PAC. He and his wife Janine are also passionate advocates for school choice, donating tens of millions of dollars to education reform efforts. During the 2024 election cycle alone, Yass contributed around USD 100 million to Republican candidates and causes.
Yass is also a major investor in TikTok, and his influence reportedly played a role in shifting former President Donald Trump’s stance on banning the app. After a private meeting with Yass in 2024, Trump reversed his position on the ban, a testament to the businessman's growing political clout. Today, Jeff Yass lives quietly in the affluent suburb of Haverford while managing one of the most powerful trading firms in the US.
