Early Life
Jeffrey Steven Yass was born in July 1958 in Queens, New York City, to a middle-class Jewish family. He attended public schools in Queens and graduated from Bayside High School in 1975. Yass earned a B.S. in mathematics and economics from Binghamton University. He later pursued graduate studies in economics at New York University but did not graduate.
Rise to Success
In the 1970s, while at Binghamton University, Yass and five fellow students became friends and would later co-found Susquehanna International Group (SIG) in 1987. Before establishing his trading firm, Yass was a professional gambler, winning sums from poker and horse betting. In 1981, he began trading on the Philadelphia Stock Exchange with backing from billionaire Israel Englander. SIG quickly became the largest trader of liquid stocks in the US.
Key Business Strategies
SIG's success is attributed to its strong technology and quantitative expertise, coupled with a disciplined approach to risk management. The firm is a major market maker, with offices worldwide. Yass's approach to trading was heavily influenced by his experience with poker, emphasizing probability and risk management. SIG also invests in early-stage growth companies globally, including TikTok's parent company, ByteDance.
Philanthropy
Yass and his wife, Janine, are supporters of school choice and have donated tens of millions of dollars to the cause. Yass has also contributed to various political campaigns and organizations, primarily Republican. He is a board member of the Cato Institute.