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by Finnucane 522 days ago
Dr. T's reversal was at least partly due to the influence of David Yass, who owns a chunk of ByteDance and saved the TruthSocial IPO, making Trump's holding actually worth something. So he owes Yass bigly.

Presumably other wealthy friends stand to win. Steve Mnuchin wanted to buy it.
2 comments
ein0p 521 days ago
Word is Musk is offering to buy a controlling stake as well. The whole thing is a racket though: ByteDance is already 60% owned by global institutional investors, including firms such as Blackrock, Susquehanna International Group, Carlyle Group, and General Atlantic. Another 20% are owned by employees, and another 20% by co-founders. Given this, I'm not sure how ByteDance could "sell TikTok" to an US investor - they don't own 50% of it themselves.
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etblg 522 days ago
Jeff Yass?
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Finnucane 521 days ago
Do you think I'd look it up instead of going by my aging mushy memory?
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