George Soros hands control of US$25 billion empire to son Alex
- George Soros, 92, cedes control of massive empire to his ‘more political’ 37-year-old son Alexander
- Reviled by conservatives, George Soros is a major supporter of liberal causes and Democratic politicians
Billionaire investor turned philanthropist George Soros is ceding control of his US$25 billion empire to a younger son, Alexander Soros, according to an exclusive interview with The Wall Street Journal published online Sunday.
A spokesperson confirmed the details from an interview with Soros, according to Reuters and Bloomberg.
Reviled by conservatives, and often the target of anti-Semitic conspiracies, George Soros as also been one of the biggest Democratic Party donors in the United States.
Soros’ business holdings include his non-profit Open Society Foundations, which is active in more than 120 countries around the world and funnels about US$1.5 billion annually to groups such as those that back human rights and promote the growth of democracies around the world, according to its website.
The 37-year-old, who goes by Alex, told the Wall Street Journal that he is “more political” than his 92-year-old father, who has been a right-wing target for his backing of liberal causes such as reducing racial bias in the justice system. But he noted that the two “think alike”.
Alex said he was broadening his father’s “liberal aims” and embracing different causes including voting and abortion rights, as well as gender equity. He said he aims to keep using the family’s wealth to back left-leaning US politicians.