How does China control Trump? Follow the money!
Trump flip flops on TikTok ban after meeting Jeff Yass who is a big shareholder in China based TikTok as well as Trump’s Media startup…
- Trump stands to make a fortune from Trump Media (DJT).
- Yass’ Susquehana is biggest institutional investor in DJT.
- Yass owns $21 billion of TikTok stock.
- Yass is one the biggest GOP donors
- Trump flip flops on TikTok, now rails against a ban
- China spreads misinformation to help Trump get elected
How does China control Trump? Follow the money!
How does China control Trump and MAGA GOP through Jeff Yass and his $21 billion stake in TikTok? Follow the money with this interactive map.
Jeff Yass’ Susquehanna is one of the largest players in the security market of exchange-traded funds
“Susquehanna is one of the largest players in the security market of exchange-traded funds. It is privately held, it is unclear just how much the firm is making each year. Court filings analyzed by ProPublica suggest that Yass owns around 75% of Susquehanna and is worth around $30 billion as of 2022. Yass is the richest man living in the state of Pennsylvania.
Susquehanna bought a stake in TikTok’s parent company, ByteDance, in 2012 that represents about 15 percent of the firm, the Journal reported. Yass’s personal stake is 7 percent of ByteDance, which is “worth roughly $21 billion based on the company’s recent valuation, or much of his $28 billion net worth as gauged by Bloomberg”. — MSN
Trump’s TikTok flip flop
“Trump’s newfound support for TikTok, and by extension owner ByteDance, come soon after Joe Biden said he’d sign legislation making its way through Congress that could ban TikTok.
“There’s a lot of good and there’s a lot of bad” with TikTok said Trump who had met with Republican mega-donor Jeff Yass at a Club for Growth donor retreat… Soon after the meeting, the former president wrote on Truth Social, “If you get rid of TikTok, Facebook and Zuckerschmuck will double their business. I don’t want Facebook, who cheated in the last Election, doing better.” — The Guardian
How much is Jeff Yass holding in TikTok’s worth? How much does Yass pay in taxes? How much does Yass donate to Republicans? How do Republican recipients of his political donations help Yass get richer in return? Follow the money with this relationship map.
Tax dodging billionaires have more money to donate to Republicans
“Yass consistently pays lower tax rates than his peers, even as he has risen to be one of the top 10 highest earners in the country, receiving more than $1 billion per year in income. He paid an average federal income tax rate of just 19% in recent years, far below what many of his fellow Wall Street billionaires pay. That has saved Yass more than $1 billion in taxes over six years, ProPublica estimates.
What has made this pattern all the more remarkable is the nature of Susquehanna’s business: The firm was built on high-frequency trading, which tends to produce short-term gains; these are taxed at around 40%. And yet, year after year, Yass’ income has been taxed almost entirely at the 20% rate reserved for longer-term investments.” — ProPublica
TakeAway: Stop ‘PAY TO PLAY’ politics where tax dodging billionaires get the laws they want at the expense of American security. Vote for President Biden and Democrats.
Deepak
DemLabs
DISCLAIMER: ALTHOUGH THE DATA FOUND IN THIS BLOG AND INFOGRAPHIC HAS BEEN PRODUCED AND PROCESSED FROM SOURCES BELIEVED TO BE RELIABLE, NO WARRANTY EXPRESSED OR IMPLIED CAN BE MADE REGARDING THE ACCURACY, COMPLETENESS, LEGALITY OR RELIABILITY OF ANY SUCH INFORMATION. THIS DISCLAIMER APPLIES TO ANY USES OF THE INFORMATION WHETHER ISOLATED OR AGGREGATE USES THEREOF.
Reposted from Democracy Labs with permission.
