Coinspeaker
George Soros Hands Over Control of $25B Empire to Son Alex
George Soros, the popular philanthropist, and businessman, revealed that he is handing over his $25 billion empire to his son Alex. According to Forbes, George Soros is one of the top 400 wealthiest people in the world, with a net worth of $6.7 billion.
The billionaire is a celebrated hedge fund tycoon who moved $18 billion from his family office to his Open Society Foundations as of 2018. Notably, the Foundations consist of several charities operating in over 100 countries. And Alex, whom he had just handed over his billion-dollar empire to, was appointed Chair in December. He also oversees George’s “user PAC”. The billionaire’s son is the second-youngest of five children and the only family member that is a member of the investment committee for Soros Fund Management, which manages the family’s $25 billion and the charitable foundation.
Alex Takes Charge of the $25B Empire of George Soros
Alex spoke to the Wall Street Journal over the weekend, noting that he is “more political” than his father. He also referred to a major role for the Soros organization in the upcoming 2024 US elections. Speaking on the potential return of former president Donald Trump, the younger Soros 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… Our side has to be better about being more patriotic and inclusive. Just because someone votes Trump doesn’t mean they’re lost or racist.”
Alex added that he is “more political” than his dad and mentioned his stance against the former president. He said that he would campaign against Trump’s attempt to run for a second term as the president of the United States.
Furthermore, the younger Soros assured that the Open Society Foundations would continue with the same standard it had under his father- George. The Foundations’ aims include minority and refugee rights, free speech, criminal justice reform, and supporting liberal politicians. In addition, Alex wants to have an abortion, voting rights, and gender equity initiatives as he targets a domestic US-focused agenda.
George Soros became known as “The Man who Broke the Bank of England” in 1992 due to his short sale of $10 billion worth of pounds, where he made $1 billion. A Hungary-born who lived through the Nazi occupation from 1944 to 1945, his family was forced to hide their identity for survival. Following the war, he moved to London and then to New York before he started making billions through his hedge fund.
As for the son, Alex is famous for his social life, which includes attending celebrity events in the Hamptons and Cannes.
