Bala Cynwyd billionaire Jeff Yass’ company Susquehanna International Group (SIG) is making money from Donald Trump’s Truth Social network, writes Joseph N. DiStefano for The Philadelphia Inquirer.

Yass’ company is a market maker. It quietly gets paid for matching buyers and sellers, raising funds for, and distributing profits from, publicly traded companies.

SIG began collecting shares of Digital World Acquisition Co. in 2021.

That’s the year that Trump’s media group, Trump Media & Technology, whose main product is the social media platform Truth Social, announced it planned to merge with Digital and go public.

The merger took three years to organize and SIG continued to buy shares in Digital World.

As of Dec. 31, SIG held Digital World stock valued at $25 million.

People familiar with SIG’s trading expect SIG’s March 31 SEC reports will show that it had reduced those holdings toward zero.

As a market maker, Yass’ company gets paid from every trade it handles, whether the Trump stock rises or falls.

In fact, Trump Media lost half its value in the two weeks since going public. But market makers like SIG can still profit until a share price reaches zero with no hope of recovery.

Read more about the complex mechanics of being a market maker in The Philadelphia Inquirer.

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