Billionaire investor turned philanthropist George Soros is ceding control of his $25 billion empire to a younger son, Alexander Soros, according to an exclusive interview with The Wall Street Journal published online Sunday.
Soros’ business holdings include his nonprofit Open Society Foundations, which is active in more than 120 countries around the world and funnels about $1.5 billion annually to groups such as those that back human rights and promote the growth of democracies around the world, according to its website.
Alex said he was broadening his father’s “liberal aims” and embracing different causes including voting and abortion rights, as well as gender equity. He said he aims to keep using the family’s wealth to back left-leaning U.S. politicians. In December, the board of Open Society Foundations, known as OSF, elected Alex as its chairman, succeeding his father. The newspaper also reported that Alex now directs political activity as president of Soros’s super PAC.
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 organization would play a key financial role in the 2024 presidential race.
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