Today: 7 May 2025
13 June 2023
2 mins read

George Soros hands over empire to son

George Soros is also one of the largest donors to the Democratic Party…reports Asian Lite News

US billionaire philanthropist George Soros has handed over the reins of his $25 billion financial and charitable empire to his son Alex, saying the latter had “earned it”, the media reported.

Alex, a 37-year-old who studied history at New York University and earned a PhD from the University of California, Berkeley, is the second-youngest of the 92-year-old Hungarian-born financier’s five children, reports the BBC.

Alex is the only family member sitting on the investment committee for Soros Fund Management, which according to The Wall Street Journal says is managing the $25 billion for the family and the charitable foundation.

He took over at the Open Society Foundations (OSF) as chairman in December 2022 and is also in charge of his father’s “super PAC” — a US mechanism to direct funds to political parties.

In an interview to The Wall Street Journal, George Soros, whose personal fortune is valued at $6.7 billion, said his son had “earned it”.

George Soros is also one of the largest donors to the Democratic Party, and Alex while speaking to the Journal, said he was “more political” than his father and that he would campaign against Donald Trump’s attempt to run for a second term as US President, the BBC reported.

“We are going to double down on defending voting rights and personal freedom at home and supporting the cause of democracy abroad,” said Alexander.

“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 said the Open Society Foundations would pursue the same aims it had under his father including free speech, criminal justice reform, minority and refugee rights and backing liberal politicians.

But he also wants to include voting rights, abortion and gender equity initiatives while pursuing a more domestic US-focused agenda.

“With my background, there are a lot of ways I could have gone astray,” the Guardian quoted Alex as saying to The Journal.

“Instead I became a workaholic, and my life is my work.”

George Soros has married three times and has five children: Alex, Andrea, Gregory, Robert and Jonathan.

ALSO READ: US watchdog declares all-out war against crypto

Previous Story

Tiki to shut down India ops

Next Story

‘BC: AD – Before Children, After Diapers’

Latest from Business

Six OMCs Pump ₹290 Cr into Startups

The Union Minister said the country continues to stand as the world’s third-largest startup ecosystem….reports Asian Lite News Six oil marketing companies (OMC) in India have invested Rs 290 crore from their

India Dominates Global Digital Banking List

Indian banks have observed the most notable gains in day-to-day banking (+9.8 pp) and expanding relationships (+3.4 pp)….reports Asian Lite News As many as 9 Indian banks have been recognised as ‘Digital
Go toTop

Don't Miss

Palestine hit by Arab funding shortage

“The Arab countries and US haven’t sent any financial aid

US National Security Strategy doesn’t mention Pakistan, Saudi

Islamabad has long complained that the US views Pakistan only