Billionaire investor turned philanthropist George Soros is ceding control of his $25 billion empire to a younger son, Alexander Soros, according to an exclusive interview with The Wall Street Journal published online Sunday.
Thank you for supporting our journalism. This article is available exclusively for our subscribers, who help fund our work at the Chicago Tribune.George Soros, founder and chairman of the Open Society Foundations, attends the Joseph A. Schumpeter Award ceremony in Vienna, Austria, June 21, 2019.
Alex said he was broadening his father’s “liberal aims” and embracing different causes including voting and abortion rights, as well as gender equity. He said he aims to keep using the family’s wealth to back left-leaning U.S. politicians.
The Wall Street Journal reported that the younger Soros is the only family member on the investment committee overseeing Soros Fund Management, which manages money for the foundation and the family. “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 the interview that took place at the fund manager’s New York offices.
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