Billionaire investor and philanthropist George Soros has reportedly passed the baton of his $25 billion empire to his youngest son, Alexander “Alex” Soros, aged 37.
The change was made official in a recent interview with The Wall Street Journal, where Alex shared his intentions to extend his father’s initiatives.
“I’m more political,” said Alex, indicating that he will follow his father’s legacy in supporting left-leaning political figures. “We think alike,” George Soros noted.
Highlighting the future political influence of the Soros Foundation, Alex said, “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 also expressed concerns about former President Donald Trump potentially returning to the White House.
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Alex was elected as the chairman of Soros’s nonprofit Open Society Foundations (OSF) in December, the WSJ Reported. He now spearheads political activities as the president of Soros’s super PAC, Democracy PAC. The committee has previously backed campaigns of law enforcement officers and district attorneys, including Manhattan District Attorney Alvin Bragg, who is currently prosecuting Trump, Fox News reported.
In addition to meetings with various politicians, including Senate Majority Leader Chuck Schumer and heads of state like Brazilian President Luiz Inácio Lula da Silva and Canadian Prime Minister Justin Trudeau, Alex is set to direct approximately $1.5 billion annually to global organizations supporting human rights and building democracies.
The Journal notes that Alex Soros views excessive restriction of free speech on college campuses as a problem. He stated, “I have some differences with my generation in regard to free speech and other things – I grew up watching Bill Maher before bed, after all.”
Alex Soros currently leads the investment committee of Soros Fund Management, which controls finances for both the family and the foundation. It is expected that most of the $25 billion will be channeled toward the OSF, with around $125 million earmarked for the super PAC.
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This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo: Courtesy of Frank Styles on flickr