Billionaire investor George Soros cedes management of empire to ‘more political’ youthful son: Report

NEW YORK — Billionaire investor turned philanthropist George Soros is ceding management of his $25 billion empire to a youthful son, Alexander Soros, in accordance with an unique interview with The Wall Street Journal printed on-line Sunday.

Soros’ enterprise holdings embody his nonprofit Open Society Foundations, which is energetic in additional than 120 nations around the globe and funnels about $1.5 billion yearly to teams comparable to those who again human rights and promote the expansion of democracies around the globe, in accordance with its web site.

The 37-year-old, who goes by Alex, advised the Wall Street Journal that he’s “more political” than his 92-year-old father, who has been a right-wing goal for his backing of liberal causes comparable to decreasing racial bias within the justice system. But he famous that the 2 “think alike.”

Alex mentioned he was broadening his father’s “liberal aims” and embracing totally different causes together with voting and abortion rights, in addition to gender fairness. He mentioned he goals to maintain utilizing the household’s wealth to again left-leaning U.S. politicians.

Alex advised the Wall Street Journal that he lately met with Biden administration officers, Senate Majority Leader Chuck Schumer and heads of state, together with Brazil’s President Luiz Inácio Lula da Silva and Canada’s Prime Minister Justin Trudeau, to push for points associated to the household basis.

In December, the board of Open Society Foundations, often known as OSF, elected Alex as its chairman, succeeding his father. The newspaper additionally reported that Alex now directs political exercise as president of Soros’s tremendous PAC.

The Wall Street Journal reported that the youthful Soros is the one member of the family on the funding committee overseeing Soros Fund Management, which manages cash for the muse and the household.

During the interview with the newspaper, Alex expressed concern that former President Donald Trump would return to the White House and hinted that the Soros group would play a key monetary function within the 2024 presidential race.

“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 mentioned within the interview that came about on the fund supervisor’s New York places of work.

Alex is the oldest of two sons from George Soros’ marriage along with his second spouse, Susan Weber, in accordance with the Wall Street Journal.