Liberal philanthropist George Soros taps ‘more political’ son to take over
Billionaire donor and philanthropist George Soros is stepping down from the helm of his empire and handing it over to his 37-year-old son, Alex Soros. The decision comes as a surprise from the 92-year-old patriarch, who previously said he would never cede control of his companies while he was still alive. Alex says he is “more political” than his father and is claiming the family’s holdings, including its nonprofit Open Society Foundation, which donates about $1.5 billion annually to liberal causes. The move passes over Soros’s elder son, Jonathan, 52, who at one point was thought to be the heir to the family’s $25 billion empire. Alex had previously seemed an unlikely choice, being an introverted child who was embarrassed by the family’s wealth. However, he is now ready to take on the Soros fortune, and his father has expressed full confidence in him.
FAQs:
Who is George Soros?
George Soros is a Hungarian-born billionaire donor and philanthropist. He built his fortune as a major hedge-fund manager in the 1970s and 1980s, making keen and sometimes unpredictable financial decisions that proved lucrative. Soros is a favorite target of conservative politicians and right-wing pundits because of his devotion to liberal causes and philanthropy.
Who is Alex Soros?
Alex Soros is the 37-year-old son of billionaire donor and philanthropist George Soros. He grew up in the tony Westchester County hamlet of Katonah and is the half-brother of Jonathan Soros, a son from their dad’s first marriage. Alex is the oldest of two sons from George’s second marriage and is an NYU graduate with a Ph.D. in history.
What is the Open Society Foundation?
The Open Society Foundation is a nonprofit organization founded and funded by George Soros. It donates about $1.5 billion annually to liberal causes, including criminal-justice-reform prosecutors and law-enforcement officials in previous election campaigns.
What is Democracy PAC?
Democracy PAC is the political action committee (PAC) of the Soros family. It backs candidates who support liberal causes, including criminal-justice-reform prosecutors and law-enforcement officials in previous election campaigns.
‘George Soros, a liberal benefactor, appoints his politically inclined son to take over’.
Billionaire Democrat donor George Soros is stepping down from his empire and passing ownership to his 37-year-old son, Alex Soros, who claims to be even more politically involved than his father. The move comes as a surprise, as Soros previously said he would never cede control while alive. The younger Soros is an NYU graduate who previously eschewed his family’s wealth, but is now in line to take over the $25 billion empire. He is seen as more detail-oriented than his father and is expected to focus on domestic politics, including weighing in heavily on the 2024 elections. The move passes over Soros’s elder son, Jonathan, who was once thought to be the heir to the family’s empire.