DWAC - Trump-Linked Digital World Acquisition Counted Billionaire Wall Street Financier Jeff Yass' Firm As Largest Institutional Shareholder: Report | Benzinga
Wall Street financier and prominent Republican donor, Jeff Yass, has reportedly been identified as a significant shareholder in the company that recently merged with former President Donald Trump’s social media company.
What Happened: Yass’s trading firm, Susquehanna International Group, was disclosed in a December regulatory filing to hold about 2% of Digital World Acquisition Corp. (NASDAQ:DWAC), which recently merged with Trump Media & Technology Group, reported The New York Times. This stake, consisting of approximately 605,000 shares, was valued at around $22 million based on Digital World’s last closing share price.
Following the merger, if Susquehanna maintained its stake, it would become one of the larger institutional shareholders of Trump Media. Digital World’s shares have seen a surge of about 140% this year as the merger with the parent company of Truth Social, Trump's social media platform, approached.
Susquehanna, however, clarified in a statement that it is a market maker and has “zero economic interest in Trump Media.” ...