According to an exclusive interview with The Wall Street Journal that was posted online Sunday, billionaire investor turned philanthropist George Soros is handing over leadership of his $25 billion empire to his younger son, Alexander Soros.
His nonprofit Open Society Foundations, which is active in more than 120 countries worldwide and distributes about $1.5 billion annually to organizations like those that support human rights and encourage the expansion of democracies around the world, are among Soros’ business holdings.
The 37-year-old, who goes by Alex, claimed to be “more political” than his 92-year-old father, who has drawn criticism from the right for supporting liberal causes including eradicating racial unfairness in the legal system.
He did, however, observe that they “think alike.”Alex claimed he was expanding his father’s “liberal aims” and supporting other causes, such as gender equity, the freedom to vote, and abortion rights. He declared his intention to continue supporting left-leaning American politicians with the family’s fortune.
Alex informed the Wall Street Journal that he recently visited with representatives of the Biden administration, Senate Majority Leader Chuck Schumer, and heads of state, such as Presidents Luiz Inácio Lula da Silva of Brazil and Justin Trudeau of Canada, to advance concerns over the family foundation.
The Open Society Foundations (OSF) board chose Alex to succeed his father as chairman in December. According to the newspaper, Alex now oversees political action as the head of Soros’ super PAC.
According to the Wall Street Journal, the younger Soros is the sole member of the family serving on the investment committee for Soros Fund Management, which looks after money for both the family and the foundation.
In the newspaper interview, Alex voiced worry that former President Donald Trump would win re-election and made a suggestion that the Soros Foundation will play a significant financial role in the 2024 presidential election.
“As much as I would love to get money out of politics, as long as the other side is doing it, we will have to do it, too,” he said in the interview that took place at the fund manager’s New York offices.
Alex is the oldest of two sons from George Soros’ marriage with his second wife, Susan Weber, according to the Wall Street Journal.
The appointment passes over George Soros’ elder son Jonathan Soros, 52, a lawyer with a background in finance. He had been believed to be the clear successor until “a falling out and a change of heart,” according to the paper.
George Soros net worth
George Soros has a net worth of $6.7 billion, according to Forbes, and is one of the top 400 richest people in the world.
George Soros is a businessman and philanthropist who is Hungarian-American. He contributed more than $32 billion to the Open Society Foundations, of which $15 billion has already been dispersed, accounting for 64% of his initial fortune.
As of March 2021, he had a net worth of US$8.6 billion. According to the percentage of his net worth, Soros was dubbed the “most generous giver” by Forbes. He is a New York resident.
