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USA. George Soros handed over the management of his $25 billion empire to his son

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George Soros, who is an American businessman and philanthropist with Jewish-Hungarian roots, handed over the reins of a $25 billion financial and charitable empire to his son Alex. Soros, 92, stated in an interview with the Wall Street Journal that Alex “deserved” to take over the management of the estate.

Since the 1990s, the fortune of the Soros family has been used to support democracy in many countries around the world, the BBC writes on Monday, confirming the information of the American daily from the billionaire’s spokesman.

George Soros is one of the largest donors to the American Democratic Party.

Father and son share similar political views

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Alex, who is a historian by training, is the second youngest of George Soros’ five children. He is the only family member to sit on Soros Fund Management’s investment committee. Although father and son share similar political views, Alex told the WSJ that he is “more politicized” than his father and that he will engage in a political campaign to prevent him from running for a second term in the US presidency. Donald Trump in 2024. “No matter how much I would like to take money out of politics, as long as the other side does it, so will we,” Alex Soros said. Alex pointed out that the Open Society Foundation (OSF), founded by his father, will pursue the same goals as before, i.e. it will work for freedom of speech, criminal justice reform, minority and refugee rights, and support liberal politicians.

Under Alex’s leadership, it will also support initiatives for gender equality, voting rights and abortion, while pursuing an agenda more focused on the United States than the world.

George SorosShutterstock

The story of George Soros

George Soros was born on Hungary in 1930. During World War II, his family had to hide their Jewish origins. After the war, he left Hungary for London, then moved to New York, where he made billions through his investment fund business.

After 1989, he founded the OSF to support the democratization process in the countries of the former Soviet bloc. The Foundation currently spends approximately $1.5 billion a year to support liberal initiatives, educational organizations and human rights in over 120 countries. The OSF moved its international operations office from Budapest to Berlin in 2018 when the Hungarian government led by Viktor Orban campaigned against the work of the Soros foundation. Some of her actions are the subject of criticism from the right, the BBC notes.

Read also: The richest woman and the richest man in the world. It’s French for the first time

Main photo source: Shutterstock

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