In a recent revelation, billionaire philanthropist George Soros unveiled plans to hand over his vast multi-billion-dollar empire to his 37-year-old son, Alex, as per NBC News.
In 2017, Soros transferred $18 million from his family firm to the Open Society Foundations, a group renowned for its charitable work in more than 100 countries. As of last December, Alex stepped into the pivotal role of the group’s chair.
In a one-on-one chat with the Wall Street Journal last weekend, Alex Soros opened up about his political inclinations, indicating that they were more profound than his father’s. He expressed his intention to take a larger role in the Open Society Foundations’ strategies for the upcoming 2024 elections.
While Alex is keen on removing money from politics, he acknowledged to the Wall Street Journal that if the opposition continues to use the money to influence politics, they might have to follow suit.
George Soros’ oldest son, Jonathan, was once believed to be the likely successor to the family empire. Jonathan, founder, and CEO of the private investment firm JS Capital Management, is Alex’s half-brother. The Wall Street Journal also reported this news.
However, George Soros confided to the Journal that he always believed the Open Societies Foundations should be entrusted to the individual most qualified, not necessarily one of his offspring. Yet, it was Alex who ultimately won his confidence.
Following the reduction of Soros Fund Management’s share in the electric car juggernaut, Tesla’s CEO Elon Musk lashed out at Soros, accusing the philanthropist of wanting to dismantle civilization.
In response, Soros told the Wall Street Journal that he seems to be the default scapegoat whenever someone needs to point a finger.
Subsequently, in a candid conversation with CNBC’s David Farber, Musk justified his previous statements, asserting his right to express his opinion, even if it could potentially result in a financial loss.
