Billionaire investor and philanthropist George Soros has reportedly handed over control of his $25 billion empire to his younger son, Alexander Soros. In an exclusive interview with The Wall Street Journal, Alexander, also known as Alex, discussed his plans to continue his father’s legacy of supporting liberal causes and progressive initiatives through the family’s business holdings, including the nonprofit Open Society Foundations.
Open Society Foundations operates in over 120 countries worldwide, directing approximately $1.5 billion annually to organizations promoting human rights, democracy, and the reduction of racial bias in the justice system, among other causes. Alex Soros, aged 37, described himself as more politically active than his 92-year-old father, aligning closely with his liberal aims while also expanding his philanthropic focus to encompass issues such as voting and abortion rights, as well as gender equity.
The younger Soros intends to leverage the family’s wealth to support left-leaning U.S. politicians and has recently engaged in meetings with Biden administration officials, Senate Majority Leader Chuck Schumer, and international heads of state, including Brazil’s President Luiz Inácio Lula da Silva and Canada’s Prime Minister Justin Trudeau. These interactions aim to advocate for causes related to the family foundation and drive progressive change.
Alex was elected chairman of Open Society Foundations in December, succeeding his father. He also serves as president of Soros’ super PAC, overseeing its political activities. The Wall Street Journal noted that Alex is the sole family member on the investment committee responsible for managing funds for both the foundation and the family.
During the interview, Alex expressed concerns about the potential return of former President Donald Trump to the White House and hinted at the significant financial role the Soros organization might play in the 2024 presidential race. He acknowledged the importance of countering the influence of money in politics, stating that as long as the opposition continues to utilize financial resources, his organization will do the same.
Alexander Soros is the eldest son from George Soros’ marriage to his second wife, Susan Weber. The appointment of Alex as the successor reportedly bypassed George Soros’ older son, Jonathan Soros, who had been considered the clear successor until a falling out and change of heart occurred.
George Soros has reportedly passed on control of his extensive empire to his son Alexander Soros, who shares his father’s liberal values and aims to expand the family’s philanthropic endeavors. With a focus on supporting progressive causes and left-leaning politicians, Alexander Soros intends to leverage the family’s wealth to drive positive change and influence future political landscapes.