Soros Fund Management Chairman George Soros. File
| Photo Credit: Reuters
Billionaire financier George Soros is handing control of his huge empire to his son Alexander, a Soros spokesperson mentioned on Sunday.
The spokesperson confirmed the main points from an interview with Mr. Soros revealed in The Wall Street Journal on Sunday.
A hedge fund supervisor turned philanthropist and main backer of liberal causes, Mr. Soros, 92, mentioned he beforehand did not need his Open Society Foundations (OSF) to be taken over by one of his 5 kids.
But talking of his choice to flip over the inspiration and the remaining of his $25 billion empire to his 37-year-old son, who goes by Alex, the elder Soros mentioned: “He’s earned it.”
Also interviewed by the newspaper, Alex mentioned he is “more political” than his father and that he plans to proceed donating household cash to left-leaning U.S. political candidates.
He informed the Journal that he would broaden the inspiration’s priorities to embody voting and abortion rights in addition to gender fairness.
“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,” Alex mentioned.
The OSF board elected Alex as its chairman in December, and Alex now directs political exercise as president of Soros’ political motion committee.
The basis directs about $1.5 billion a yr to teams equivalent to these backing human rights all over the world and serving to construct democracies, the Journal reported.
