Billionaire philanthropist George Soros, 92, is handing over his $25 billion empire to his younger son, Alexander Soros, 37, despite previous doubts by some about whether the former would ever step down.
Alexander’s intentions as the successor of the elder Soros’s non-profit group, Open Society Foundation, or OSF, include expanding on his father’s “liberal aims,” as he described in an interview with the Wall Street Journal.
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He was elected by the OSF board to lead the group during a December vote, and he now oversees political activity as the president of Soros’s super PAC.
In comparison with his father, “I’m more political,” Alexander said. He added that he is concerned about the possibility of former President Donald Trump securing a second term in the White House.
Alexander also suggested a significant financial stake by Soros organizations in the 2024 presidential election.
“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 in a previous interview from his New York offices.
George was a proponent of former President Barack Obama’s 2008 presidential campaign, and he has been outspoken in his support of legalizing medical marijuana.
Speculation had mounted around George Soros’s older son, Jonathan Soros, 52, over his potential future with OSF — his previously assumed ascension came from having previously worked with the organization combined with his background as an attorney.
Previously, George said he “didn’t want the foundation to be taken over by one of my children, as a matter of principle,” according to WSJ. “I thought it should be managed by someone who is best suited.”
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Alexander is currently the only member of the Soros family who serves on the investment committee charged with managing Soros Fund Management, which directs funds to the family as well as the foundation. Of the group’s $25 billion, most will be transferred to OSF, with around $125 million to be shuffled to the super PAC in the years to come.
