According to The Wall Street Journal (WSJ), 92-year-old hedge fund tycoon George Soros has given his younger son, Alexander Soros, control of his $25 billion enterprise.
Soros stated on Sunday that his son “earned it” in an interview with a US-based newspaper.
His empire includes the nonprofit Open Society Foundations, which, according to its website, operates in more than 120 nations and distributes roughly $1.5 billion yearly to organizations like those that support human rights and encourage the expansion of democracies around the world.
One of the top 400 richest persons in the world, Soros has a net worth of $6.7 billion, according to Forbes. He has often been the target of right-wing conspiracists.
Alex (37), who claimed to be more political than his father, said he would expand his father’s “liberal aims” and support a variety of issues, such as the freedom to vote, the right to an abortion, and gender equality.
In an interview with the WSJ, he stated that he intends to continue supporting left-leaning US politicians with the family’s fortune because the two “think alike”.
Alex claimed that to further concerns about the family foundation, he recently visited with representatives of the Biden administration, Senate Majority Leader Chuck Schumer, and the leaders of Brazil’s President Luiz Incio Lula da Silva and Canada’s Prime Minister Justin Trudeau.
In December, Alex was chosen to succeed his father as chairman of the board of the Open Society Foundations. According to the publication, he now oversees political operations as the president of Soros’ super PAC.
The 37-year-old expressed concern over Donald Trump possibly winning the presidency again and warned that the Soros organization might 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.
Who is George Soros?
92-year-old Soros was born in Hungary, where he experienced the Nazi occupation in 1944–1945, which led to the massacre of over 500,000 Hungarian Jews.
According to the Open Society Foundation website, his Jewish family managed to survive by obtaining fraudulent identification documents, hiding their origins, and aiding others in doing the same.
In a later statement, Soros said, “Not only did we survive, but we also managed to help others.”
Soros immigrated to England in 1947, attended the London School of Economics (LSE), and then started working at commercial banks in both the US and England.
Soros has a net worth of £5.8 billion as of 2023
George Soros established his hedge fund in 1969. After that, in 1970, he launched Soros Fund Management, his second hedge fund.
He supposedly has a net worth of £5.8 billion as of 2023, after donating 80% of his fortune to charity.
Soros has frequently been the victim of antisemitism, conspiracies, and personal attacks from authoritarian political figures like Vladimir Putin of Russia and Viktor Orban of Hungary.
Numerous conspiracy theories have been made against him, with many contending that Soros is to blame for encouraging immigration, supporting coups, funding rallies, and attempting to advance a multicultural and liberal agenda.