George Soros, a financier with a penchant for politics, has moved to hand over control over his $25 billion empire to his 37-year-old son Alexander.
As some media outlets have pointed out, Soros Sr. previously appeared reluctant to let any of his five children take control of the Open Society Foundations (OSF) but has apparently changed his mind.
"He's earned it," George Soros said in an interview with a US newspaper regarding his decision.
Alexander Soros replaced his father as the Open Society Foundations’ board chairman in December 2022 and is currently the only Soros family member on the investment committee which supervises Soros Fund Management.
During an interview with the same US newspaper, Alexander said that he is “more political” and that he intends to continue donating money to left-leaning political candidates in the United States.
Soros’ son also reportedly seeks to use their family’s fortune to promote causes such as voting and abortion rights along with gender equality.
While George Soros is generally regarded as a philanthropist in the West, with the OSF ostensibly existing to help promote human rights and democracy around the world, he has also been accused of using the OSF as a front for campaigns to undermine national governments and change the course of elections.
In Russia, “charities” operating under the OSF umbrella are regarded as undesirable organizations.