{"id":21272,"date":"2023-06-11T18:13:28","date_gmt":"2023-06-11T22:13:28","guid":{"rendered":"https:\/\/ifintechworld.com\/investing\/billionaire-george-soros-hands-control-of-financial-empire-to-his-son-alex\/"},"modified":"2023-06-11T18:13:29","modified_gmt":"2023-06-11T22:13:29","slug":"billionaire-george-soros-hands-control-of-financial-empire-to-his-son-alex","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=21272","title":{"rendered":"Billionaire George Soros hands control of financial empire to his son, Alex"},"content":{"rendered":"
\n

Billionaire investor and philanthropist George Soros is handing over control of his $25 billion financial empire to his son, 37-year-old Alex Soros.<\/p>\n

The Wall Street Journal first reported the news Sunday, which was confirmed by a spokesperson for Soros\u2019\u00a0Open Society Foundations. In an interview with the Journal, Alex Soros said he shares his father\u2019s liberal aims, including support for voting and abortion rights, adding \u201cI\u2019m more political\u201d than his father.<\/p>\n

\n

The Open Society Foundations directs about $1.5 billion a year to humanitarian and democratic causes worldwide, and controls the majority of assets managed by the Soros family. OSF\u2019s website says it champions solutions \u201cthat advance justice, equity and human dignity.\u201d<\/p>\n

Alex Soros told the Journal he intends to continue to use the family\u2019s fortune to support liberal politicians and causes. \u201cAs 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,\u201d he told the Journal.<\/p>\n

In 2018, he penned an op-ed for the New York Times decrying the\u00a0climate of \u201cpolitical demonization\u201d and blamed Donald Trump for a rise in hate and extremism. \u201cA genie was let out of the bottle, which may take generations to put back in,\u201d he wrote.<\/p>\n

George Soros, 92, had previously said he didn\u2019t want any of his children to take over his foundation as a matter of principle, but told the Journal, of Alex: \u201cHe\u2019s earned it.\u201d<\/p>\n

In December, Alex Soros replaced his father as chairman of the board of the Open Society Foundations, and he is the only family member on the investment committee overseeing Soros Fund Management, according to the Journal.<\/p>\n

In the 2021-\u201922 election cycle, George Soros was the country\u2019s No. 1 political donor, giving more than $178 million to Democrats, according to data from nonpartisan political money-tracker OpenSecrets.<\/p>\n

Because of his massive financial support for liberal causes, the Hungarian-born George Soros has become somewhat of a bogeyman to U.S. conservatives and has long been a target of the right. In May, Tesla Inc.
\n TSLA,
\n +4.06%<\/bg-quote>
\n CEO and Twitter owner Elon Musk compared Soros to a supervillain and claimed he \u201chates humanity.\u201d<\/p>\n<\/p><\/div>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Billionaire investor and philanthropist George Soros is handing over control of his $25 billion financial empire to his son, 37-year-old Alex Soros. The Wall Street Journal first reported the news Sunday, which was confirmed by a spokesperson for Soros\u2019\u00a0Open Society Foundations. In an interview with the Journal, Alex Soros said he shares his father\u2019s liberal […]<\/p>\n","protected":false},"author":1,"featured_media":21273,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[239],"tags":[83],"class_list":["post-21272","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-investing","tag-featured","post_format-post-format-video"],"yoast_head":"\nBillionaire George Soros hands control of financial empire to his son, Alex | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Billionaire investor and philanthropist George Soros is handing over control of his $25 billion financial empire to his son, 37-year-old Alex Soros. 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