Pennsylvania billionaire pumps $18M of his own money into contentious primary

A Pennsylvania billionaire has reportedly poured millions of his own fortune behind key candidates in both political parties.

Jeffrey Yass is one of the richest men in Pennsylvania who made his fortune investing gambling winnings into his prolific stock trading company, Susquehanna International Group. He also spent a total of $18 million in the Pennsylvania primary, according to a report in the Pittsburgh Post-Gazette.


Yass, a registered libertarian, reportedly poured money into Republican gubernatorial nominee Bill McSwain. He has also pumped funds to several moderate Democrats in Philadelphia who are up against more progressive opponents.

HARRISBURG, PENNSYLVANIA – MAY 13: Pennsylvania GOP gubernatorial candidate Bill McSwain delivers a speech during a meet and greet campaign event at Perkins Restaurant & Bakery on May 13, 2022 in Harrisburg, Pennsylvania. become a Pennsylvanian

Yass investments have been particularly focused on education and alternatives to public school systems. Tens of millions in donations have flowed through his Students First PAC — a political action committee dedicated to school choice issues.

“We believe students will benefit from expanded educational options and more comprehensive school choices. Parents should have the power to make that choice,” the organization’s seemingly abandoned Twitter account read.

In Pennsylvania, there is no limit to how much money an individual or political action committee can spend on campaigns.


Pennsylvania is in the spotlight this election cycle as the Republican primary will pit GOP members from a variety of internal factions against one another.

US Senate candidate in Pennsylvania and former CEO of Bridgewater Associates, David McCormickcried Trump supported dr Oz’s “fighting” campaign “Morning with Maria”, Monday, before the hotly contested primary race. McCormick argued that Dr. Oz doesn’t “get going” because he’s not “conservative,” citing his notes on a variety of issues.

Last month, a Spokesman for Donald Trump announced that the former president supported the Oz campaign – a strong endorsement in Republican circles.

Oz said he reached out to the former president for his support for the US Senate seat in Pennsylvania.

“Every candidate for the Senate in Pennsylvania went to President Trump,” Oz explained. “We were all carefully evaluated by him, and he picked me… I quote him, he said I was ‘smart, tough, and I’ll never meet us in the.’ let them down’.”

Some polls, including a Fox News poll, show that the race between Dr. Oz, McCormick and Kathy Barnette was a dead heat in three directions.

Fox Business’ Stephanie Giang-Paunon contributed to this report.

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