Organizations Denounce Billionaire Jeff Yass’s Outside Spending in PA-12 Congressional Race
PA’s largest rightwing donor interferes in Democratic primary race, attempting to disrupt democracy and expand his power throughout the state
PITTSBURGH – Jeffrey Yass, a billionaire rightwing donor, TikTok investor, and new friend of Trump, is now playing a major role in the Congressional race in Pittsburgh, where he does not live. Community groups across the state behind the AllEyesOnYass Campaign are speaking out against Yass's increasingly large role in Pittsburgh's democracy.
Politico reports the newly formed “The Moderate PAC”, which received nearly all of its funding from Yass, plans to spend $270,000 on ads attacking Representative Summer Lee. This comes only a few months after Yass gave about $300,000 to defeat County Executive, Sara Innamorato.
“Jeff Yass – a billionaire who tries to privatize our public schools, evades paying his taxes, funds elected officials who supported the January 6th insurrection, and just this week, pledged support Trump – should not be allowed to buy our election,” said co-Executive Director Steve Paul at One Pennsylvania. “From this Congressional seat to the Pennsylvania legislature to US Presidency, we will resist Yass's corporate authoritarian power grabs.”
Yass is the co-founder of Susquehanna International Group, a Wall Street firm heavily invested in TikTok and other tech corporations, and headquartered in suburban Philadelphia. He is worth nearly $30 billion, making him Pennsylvania’s richest man, and the 28th richest person in the United States.
So far in the 2024 election cycle, Yass is the top political donor in the country, giving overwhelmingly to Republicans and far rightwing causes – particularly efforts to defund public education nationwide. He is also Pennsylvania's top donor and has given prolifically to elections outside of his suburban Philadelphia district – more than $60 million over the past 5 years in state races.
“For the last few years, we have been fighting to make this region livable for all of us. Pittsburgh was deemed the worst livable city for Black women. Is it any surprise that a Billionaire who made his money off of our exploitation is trying to stop us from electing champions who advocate for what our communities need to thrive and be safe?,” said Miracle Jones, Legislative Director of 1HoodPower. “When Republican billionaires spend money to buy politicians who do not have our community's needs at the center of the work, then people like Jeffery Yass are not only a threat to democracy, but they create the conditions that allow for discrimination and violence to happen. Rest assured that we won’t let him prevail in our quest to build a better world for our community.”
For the last few years, groups from all corners of the state – 1Hood Power, Alliance for Police Accountability, ACRE, Little Sis, One Pennsylvania, Free the Ballot, PA Stands Up, PA Working Families, POWER, Make the Road PA and more – have called attention to the role of Jeff Yass’s money in undermining democracy in Pennsylvania, demanding that no elected official take money from Yass. In 2022 and 2023, organizations successfully got Yass-backed candidates to denounce and return Yass donations.
