A little known charitable foundation, the Susquehanna Foundation, is among the largest options trading firms in the world and has donated tens of millions of dollars to influence federal policy, education, and law. The foundation is run by Republican megadonor Jeff Yass and his allies, based out of the same office building as Susquehanna International Group. Yass and Arthur Dantchik, the co-founder of Susquehanna, have also funded and led the Claws Foundation, another charitable organization. These foundations have contributed over $25 million to libertarian-minded nonprofit groups since 2016, including the Cato Institute, the Institute for Justice, and the Atlas Network.
Many of the donations from Yass’s foundations go towards organizations that advance policies that could benefit Yass, his business, and those close to him. The foundations have also funded groups such as the Competitive Enterprise Institute, which opposes government regulations in various industries. Yass’s political action committee, the Moderate PAC, has supported efforts to unseat progressive Democratic Rep. Summer Lee. Yass is the only known contributor to this PAC, as he seeks to push U.S. politics to the right and advance policies that benefit his interests, such as advocating for the banning of TikTok.
Known for their significant wealth, Yass and Dantchik, who have been friends for over 50 years, have used their foundations to support various causes aligned with their political and financial interests. Yass’s net worth is estimated to be $27 billion, while Dantchik’s net worth is around $7 billion. The Susquehanna and Claws foundations have been instrumental in supporting organizations that campaign to end or limit government regulations and to promote free market policies. These efforts could stand to benefit Yass and Susquehanna, particularly concerning their investments in TikTok through ByteDance.
The Susquehanna and Claws foundations have made substantial contributions to the Cato Institute since 2016, amounting to nearly $6.8 million. This financial support has aligned with Cato’s policy goals, which reflect Yass’s political and financial interests. Yass was named the vice chairman of Cato’s board in 2022 but no longer holds that position. Cato has advocated for issues such as opposing a ban on TikTok and restrictions on the rule-making power of the Securities and Exchange Commission, both of which could impact Yass and Susquehanna.
In addition to supporting organizations opposing a TikTok ban, the Yass-led foundations have also funded groups advocating for “school choice,” a top priority for Yass and his wife. These efforts mirror the libertarian and conservative leanings of the foundations’ donors. The Institute for Justice, one of the groups supported by the foundations, has advocated for school choice in court cases and opposed campaign finance reforms that would require donor disclosure. Overall, Yass’s foundations have become significant players in funding conservative causes and think tanks with a libertarian focus. The organizations they support work towards promoting a free market and limiting government intervention in various industries.
