Report: Billionaire investor and philanthropist George Soros hands over control of empire to younger son

NEW YORK — Billionaire investor-turned-philanthropist George Soros is handing over control of his $25 billion empire to his youngest son, Alexander Soros, according to a report. exclusive interview with the Wall Street Journal published online Sunday.

Soros’ business holdings include his nonprofit Open Society Foundations, which are active in more than 120 countries around the world and donate approximately $1.5 billion a year to groups such as those that support human rights. people and promote the growth of democracies around the world, according to its website.

The 37-year-old, nicknamed Alex, told the Wall Street Journal he was ‘more political’ than his 92-year-old father, who has been a right-wing target for his support for liberal causes such as cuts in greenhouse gas emissions. racial bias in the justice system. But he noted that the two “think alike.”

Alex said he broadens his father’s “liberal goals” and embraces different causes, including suffrage and abortion, as well as gender equality. He said he wanted to continue using family wealth to support left-leaning American politicians.

Alex told the Wall Street Journal that he recently met with Biden administration officials, Senate Majority Leader Chuck Schumer and heads of state, including Brazilian President Luiz Inácio Lula da Silva and Prime Minister Canadian Justin Trudeau, to lobby on issues related to the family foundation.

In December, the board of directors of Open Society Foundations, known as OSF, elected Alex as president, succeeding his father. The newspaper also reports that Alex is now directing political activity as the chairman of Soros’ super PAC.

The Wall Street Journal reported that young Soros is the only family member on the investment committee overseeing Soros Fund Management, which manages the foundation and family money.

During the interview with the newspaper, Alex expressed concern over former President Donald Trump’s return to the White House and hinted that the Soros organization would play a key financial role in the presidential race. 2024.

“As much as I would like to take money out of politics, as long as the other side is doing it, we will have to do it too,” he said during the interview, which took place at the new offices. -yorker of the fund manager.

Alex is the eldest of two sons from George Soros’ marriage to his second wife, Susan Weber, according to the Wall Street Journal.

This appointment does not concern the eldest son of George Soros, Jonathan Soros, 52, a lawyer specializing in finance. He was thought to be the obvious successor until “an argument and a change of heart”, according to the newspaper.