Report: Billionaire investor, philanthropist George Soros cedes control of empire to a younger son

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According to an exclusive interview with The Wall Street Journal published online on Sunday, billionaire investor-turned-philanthropist George Soros is relinquishing control of his $25 billion empire to his younger son, Alexander Soros.

George Soros’ extensive business holdings include the renowned nonprofit organization, Open Society Foundations (OSF), which operates in over 120 countries worldwide. OSF allocates approximately $1.5 billion annually to support various causes, including human rights advocacy and the advancement of democratic principles.

In the interview, Alexander Soros, commonly known as Alex, revealed that he possesses a more politically active stance than his 92-year-old father. George Soros has often been targeted by right-wing factions due to his support for liberal initiatives, such as combating racial bias within the justice system. However, Alex emphasized that despite their differing approaches, they share similar ideologies.

Alex explained that he intends to expand upon his father’s liberal objectives, endorsing a broader range of causes, including voting rights, abortion rights, and gender equality. He aims to utilize the family’s wealth to support left-leaning politicians in the United States.

Alex disclosed his recent meetings with prominent figures, including officials from the Biden administration, Senate Majority Leader Chuck Schumer, and world leaders like Brazil’s President Luiz Inácio Lula da Silva and Canada’s Prime Minister Justin Trudeau. These engagements focused on advocating for issues aligned with the Soros family foundation.

In December, Alex succeeded his father as the chairman of the Open Society Foundations’ board. The Wall Street Journal also reported that he now oversees political activities as the president of Soros’ super PAC. Additionally, he is the sole family member serving on the investment committee responsible for Soros Fund Management, which handles finances for the foundation and the family.

During the interview, Alex expressed concerns about a potential return of former President Donald Trump to the White House. He hinted at the significant financial role the Soros organization might play in the 2024 presidential race, acknowledging that while he aspires to reduce the influence of money in politics, he feels compelled to engage in fundraising efforts to counterbalance opposing forces.

Alex, the eldest of George Soros’ two sons from his marriage to Susan Weber, emerged as the chosen successor despite the initial assumption that his elder brother, Jonathan Soros, would inherit the role due to his background in finance and law. However, a disagreement and change of heart reportedly altered the succession plan, leading to Alex assuming the position.

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More about Succession Plan

• The Wall Street Journal: The exclusive interview with Alexander Soros and detailed insights into the succession plan.
• Open Society Foundations: The official website of the nonprofit organization led by George Soros, providing information about their initiatives and impact.
• Biden Administration: The official website of the Biden administration, where you can find updates on their policies and initiatives.
• Chuck Schumer’s Official Website: The official website of Senator Chuck Schumer, where you can access his statements, legislative actions, and priorities.
• Brazil’s President Luiz Inácio Lula da Silva: The official website of the Brazilian presidency, offering information about President Luiz Inácio Lula da Silva and his government.
• Canada’s Prime Minister Justin Trudeau: The official website of Canada’s Prime Minister Justin Trudeau, providing updates on his government’s policies and initiatives.