Arthur Dantchik (born 1957)[1] is an American businessman and philanthropist who is a co-founder and the managing director of Susquehanna International Group, a Bala Cynwyd, Pennsylvania-based financial services firm founded in 1987. With a net worth of $7.5 billion in 2022, Dantchik is the 104th richest person in the United States.[2]
Arthur Dantchik | |
|---|---|
| Born | 1957 (age 66–67) |
| Nationality | American |
| Education | Binghamton University Arizona State University |
| Occupation | Businessman |
| Known for | Co-founder of Susquehanna International Group |
| Board member of | ByteDance |
Dantchik is a member of the board of directors of ByteDance, the Chinese parent company of social media website TikTok.[3]
Early life
editDantchik was educated at Bayside High School and attended the State University of New York At Binghamton, where he met Jeff Yass, Steve Bloom, Eric Brooks, Andrew Frost, and Joel Greenberg, who would be his co-founders of Susquehanna International Group (SIG). Dantchik and Yass were roommates.[4][5] He is of Jewish descent.[6]
Dantchik graduated from SUNY-Binghamton with a bachelor's degree in biology. He attended graduate studies in psychology at Arizona State University.[3] After college, Dantchik moved to Las Vegas and made a living gambling and playing poker.[4]
Business career
editIn 1987, the six friends from SUNY-Binghamton co-founded SIG.[4] Dantchik serves as SIG's managing director and executive committee member, overseeing the firm's global private equity, venture capital investments, commodity trading business, and international activities.[3] As of 2022, Dantchik owns around 19% of Susquehanna.[7]
Dantchik helped SIG establish SIG Asia Investments, its China-based venture capital arm, in 2004. SIG Asia Investments was an early investor in ByteDance, the Chinese parent company of social media website TikTok, in 2012. Dantchik sits on Bytedance's board of directors as SIG's representative. SIG owned around 15% of ByteDance as of late 2020, making SIG the largest outside investor in the company.[8]
Philanthropy
editDantchik founded the CLAWS Foundation to support his philanthropic goals. It has been described as "low profile" and does not accept unsolicited proposals.[9] The foundation backs a number of libertarian causes in the United States and Israel. It is also active in giving to local causes in Philadelphia, such as the Philadelphia Museum of Art[10] and the Children's Hospital of Philadelphia.[11]
The CLAWS Foundation has been a major donor to the Institute for Justice,[12] a libertarian public interest law firm, libertarian think tank Cato Institute,[13] and Ron Paul-linked Students for Liberty.[14]
The foundation has also been active in supporting causes in Israel. Between 2010 and 2020, the foundation gave more than $25 million to the Shalom Hartman Institute, a Jerusalem-based Jewish research and education institute, making the foundation one of the institute's largest donors. It also provided funding to the Israeli think tank Kohelet Policy Forum, a driving force behind the 2023 Israeli judicial reform.[15] The controversial reform push faced significant opposition in Israel, and Dantchik announced on August 4, 2023, that he would no longer make donations to think tanks in Israel. In a statement, Dantchik said that "it is most critical at this time for Israel to focus on healing and national unity.”[16][17]
Personal life
editDantchik maintains a low profile and has never given an interview.[16] He is single, and lives in Gladwyne, Pennsylvania.[18]
References
edit- ^ Slyomovics, Nettanel (March 11, 2021). "The U.S. Billionaires Secretly Funding the Right-wing Effort to Reshape Israel". Haaretz. Archived from the original on June 28, 2022. Retrieved December 10, 2024.
- ^ Mulligan, Ryan (September 29, 2022). "7 Philly-Area Residents Rank on Forbes 400 List of America's Richest People". Philadelphia Business Journal. NBC Philadelphia. Archived from the original on March 15, 2023. Retrieved March 15, 2023.
- ^ a b c "Arthur Dantchik". The Org. Archived from the original on March 15, 2023. Retrieved March 15, 2023.
- ^ a b c Huber, Robert (August 26, 2009). "Beating the Odds – Susquehanna International – Jeff Yass". Philly Mag. Archived from the original on March 15, 2023. Retrieved March 15, 2023.
- ^ Gara, Antoine (April 10, 2021). "How Trader Jeff Yass Parlayed Poker And Horse Race Handicapping Into A $12 Billion Fortune". Forbes.
- ^ "The World's Jewish Billionaires". Forbes Israel. February 2, 2023. Archived from the original on April 2, 2023.
- ^ Elliott, Justin (June 21, 2022). "Meet the Billionaire and Rising GOP Mega-Donor Who's Gaming the Tax System". ProPublica. Archived from the original on March 14, 2023. Retrieved March 15, 2023.
- ^ Winkler, Rolfe (October 1, 2020). "Secretive High-Speed Trading Firm Hits Jackpot With TikTok". Wall Street Journal. News Corp. Archived from the original on March 14, 2023. Retrieved March 15, 2023.
- ^ "Claws Foundation - Powerbase". powerbase.info. Retrieved August 5, 2023.
- ^ "2018 Annual Report" (PDF). Philadelphia Museum of Art. Archived (PDF) from the original on December 6, 2022. Retrieved March 27, 2023.
- ^ "ProPublica Full text of "Full Filing" for fiscal year ending Dec. 2020". ProPublica. May 9, 2013. Retrieved June 15, 2023.
- ^ Beachum, Lateshia (November 15, 2017). "Kochs key among small group quietly funding legal assault on campaign finance regulation". Center for Public Integrity. Archived from the original on March 15, 2023. Retrieved March 27, 2023.
- ^ Balcerzak, Ashley (November 15, 2017). "The players who have shaped campaign finance over the decades". Center for Public Integrity. Archived from the original on March 15, 2023. Retrieved March 27, 2023.
- ^ "Students for Liberty Annual Report, 2013–2014" (PDF). Students for Liberty. Archived (PDF) from the original on March 27, 2023. Retrieved March 27, 2023.
- ^ Maltz, Judy (February 1, 2023). "Hartman Institute Received Major Donations From U.S. Billionaires". Haaretz. Archived from the original on February 3, 2023. Retrieved March 15, 2023.
- ^ a b Segal, David (August 4, 2023). "Billionaire Parts With Group Behind Israel's Judicial Overhaul". The New York Times. Retrieved August 5, 2023.
- ^ Debre, Isabel (August 4, 2023). "An American billionaire says he'll stop funding the think tank behind Israel's judicial overhaul". AP News. Retrieved August 7, 2023.
- ^ "Forbes profile: Arthur Dantchik". Forbes. Retrieved August 9, 2023.