The Wall Street Journal was reportedly informed by left-wing billionaire George Soros that his 37-year-old son, Alexander Soros, is now in charge of the financier’s $25 billion enterprise.
Through his nonprofit Open Society Foundations, Soros, 92, a hedge fund manager who made his money by making bets on the world’s stock, bond, and currency markets amid economic and political changes in the 1950s, has become a significant benefactor of leftist causes.
The foundation apparently donates over $1.5 billion per year to political action committees, colleges, and other institutions all across the world.
George Soros is well known for funding political action organizations that aim to elect district attorneys and law enforcement officials who support change.
He earlier stated that he would not permit one of his five children to become the new leader of the company.
But Soros apparently changed his mind after learning that his son Alex will lead the organization, which has financed a number of leftist activist groups and educational institutions all around the world.
In an interview with the publication, Alex stated that he would expand his father’s goal for a more liberal society and aims to be more politically involved than him.
Alex, who recently met with representatives of the Biden administration, Democratic lawmakers, and other world leaders including Canada’s Prime Minister Justin Trudeau and Brazil’s President Luiz Inácio Lula da Silva, suggested the group would have a significant financial impact on the 2024 presidential election.
Alex donated $726,900 to the Biden Victory Fund for the 2020 race, according to Federal race Commission data, and has given around $11 million to left-wing PACs since 2010, on average.
At the conclusion of 2022, Alex was chosen as the chairman of the Open Society Foundations board.