Billionaire investor and philanthropist George Soros is ceding control of his $25 billion empire to a younger son, Alexander Soros.
Billionaire investor and philanthropist George Soros is ceding control of his $25 billion empire to a younger son, Alexander Soros, according to an 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 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. The Wall Street Journal reported that the younger Soros is the only family member on the investment committee overseeing Soros Fund Management, which manages money for the foundation and the family.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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