George Soros Chooses Son as Successor to his $25 Billion Empire
George Soros, the American billionaire of Hungarian origin, has selected his son, Alex Soros, to lead the direction of his financial and charitable empire, valued at $25 billion. Soros, who is 92 years old, stated in an interview with The Wall Street Journal that his son “has earned it.”
Profile of the Successor
Alex Soros, 37, is the second youngest of five children and has a degree in history. He is the only family member on the investment committee of Soros Fund Management, which manages the $25 billion and the charitable foundation. Alex became president of the Open Society Foundations (OSF) in December.
The Soros family has supported the consolidation of democracy in many countries since the 1990s. However, in recent years, George Soros has been the subject of anti-Semitic conspiracies by right-wing groups.
Relationship with Politics
George Soros is one of the largest donors to the Democratic Party in the United States. His son Alex shares his father’s political views but is also “more political” and would campaign against Donald Trump’s attempt to run for a second presidential term. Additionally, Alex also directs funds to political parties in the United States through his father’s “super PAC.”
The Open Society Foundations will continue to promote goals such as free speech, criminal justice reform, minority and refugee rights, and support for liberal politicians, according to Alex Soros. He also aims to include initiatives on voting rights, abortion, and gender equality while concentrating on a more US-centric agenda. Some of his causes have been a source of controversy, such as the fight against racial prejudice in the US judicial system.
The Relationship with Hungary
George Soros is a Holocaust survivor. After the war, he left Hungary and moved to London, then to New York, where he made billions from his financial activity. When the establishment of democratic governments in the former Soviet bloc became possible, he founded the Open Society Foundations (OSF) to support the process. Currently, the OSF allocates about $1.5 billion annually to educational and human rights organizations in over 120 countries. In 2018, after the Hungarian government led by Viktor Orban campaigned against Soros personally and the work of his foundation, the OSF moved its international office from Budapest, Hungary to Berlin, Germany.
Alex Soros is an advocate for human rights and sits on the board of directors of the human rights advocacy group Global Witness. He is also a fan of hip-hop and the New York Jets football team and is known for his high-profile social life, having participated in celebrity parties in Cannes and the Hamptons.
He told The Wall Street Journal, “Our side has to be more patriotic and inclusive. Just because someone votes for Trump doesn’t mean they’re lost or racist.”