Jeffrey Yass, Pennsylvania’s richest billionaire, finds himself near the top of the leaderboard when it comes to individual spending in the upcoming midterm elections, according to a recent report from Bloomberg.
Yass has amassed a net worth of over $84 billion thanks to his investments in ByteDance, which has a 19.9% stake in TikTok, and has used that wealth to influence politics at the state and federal levels in races across the country.
According to Bloomberg, Yass owns 3.7% of TikTok following its sale brokered by President Donald Trump’s administration earlier this year, and Federal Election Commission (FEC) filings show that the billionaire has spent over $82 million at the federal level ahead of the 2026 midterm elections.
So far, Democratic donor George Soros and Elon Musk, owner, executive chairman, and chief technology officer of X, who helped Trump win the 2024 elections, have spent more than Yass.
Here’s a breakdown of where Yass’ money is going:
Support for Vivek Ramaswamy’s gubernatorial election
Yass is the primary donor behind V PAC: Victors, Not Victims, a Republican super PAC created to support Vivek Ramaswamy’s gubernatorial campaign in Ohio.
According to the FEC, Yass has donated $20 million to the political action committee, which has raised $29.5 million in total since the start of 2025.
Earlier this month, Ramaswamy won the Republican gubernatorial primary with 82.5% of the vote, and has advocated for school vouchers and other public education alternatives, which are political priorities for Yass.
Funding school vouchers nationally
Yass, a longtime charter school and school voucher advocate, has donated $19 million to two PACs focused on privatizing public education in states across the country.
Since the beginning of 2025, Yass has donated $15 million to the School Freedom Fund, a super PAC associated with Club for Growth, a conservative anti-tax group, and $4 million to American Federation for Children (AFC) Victory Fund.
According to All Eyes on Yass, a website dedicated to tracking the billionaire’s political spending, these PACs have spent millions defeating public-school friendly Republican legislators in order to influence education policy at the state level.
Donations to Trump during TikTok ban
Yass has donated $16 million to MAGA Inc., a super PAC supporting Trump, making him one of the largest individual donors since Trump returned to office last year.
His donations to Trump’s super PAC came at a time when the Trump administration delayed the TikTok ban and negotiated a deal taking the company out of the hands of the Chinese government.
Repealing Dark Money reporting and Ranked Choice Voting in Alaska
Some of Yass’ money has made its way to super PACs supporting a a billionaire-backed ballot measure in Alaska that repeals dark-money reporting requirements and the state’s ranked-choice voting system, according to Open Secrets.
According to FEC reports, Yass is the primary funder of the Aurora Action Network, a super PAC based in Wisconsin spending money in support of repealing the two initiatives. Yass has donated $675,000 to Aurora Action Network, which has raised $894,000 since January 2025.
