Billionaire George Soros, a well-known Democrat and significant donor to the party, is relinquishing control of his business empire and putting his younger son Alex in charge, who describes himself as more politically involved than his left-leaning father.
This move is a surprise since the 92-year-old Soros had previously boasted about retaining control until his passing.
However, he now believes that his 37-year-old son, an NYU graduate, has earned the right to take charge of the family’s assets. One of them is the Open Society Foundation, a nonprofit organization that annually contributes around $1.5 billion to progressive causes.
This decision bypasses Soros’s oldest son, Jonathan, previously considered the natural successor to the family’s $25 billion fortune.
Alex, Jonathan’s half-brother from their father’s first marriage, grew up in the affluent community of Katonah, New York.
Despite his family’s vast wealth, the 37-year-old has been characterized as reclusive and occasionally dismissive of his privileged background. He never anticipated inheriting the Soros fortune, as Jonathan had long been assumed to be the heir apparent.
Alex Soros has shown a greater involvement in domestic politics than his father.
He focused on Donald Trump’s potential future presidential campaign and is expected to participate in the 2024 election actively.
Alex has recently met with prominent Democratic officials, including representatives from the Biden administration and New York Senate Majority Leader Chuck Schumer, as evident from his social media pictures.
White House records indicate that he has visited the White House on at least seventeen occasions since President Biden assumed office.
Soros heads Democracy PAC, a political action committee that has previously endorsed criminal justice reform prosecutors and other law enforcement officials.
Hungarian-born George Soros, who is well known as a survivor of the Holocaust, rose to wealth as a prominent hedge-fund manager in the 1970s and 1980s.
Despite facing allegations from critics that he collaborated with Nazis in the past, Soros made shrewd and often unconventional financial decisions during that period, resulting in substantial profits.
Previously, the Hungarian government, originating from Soros’s home country, launched an anti-immigrant campaign titled “Stop Soros.” This campaign featured posters with Soros’s image and the slogan “Don’t let Soros have the last laugh.”
Elon Musk, CEO of Tesla, recently likened Soros to the fictional character “Magneto” in a tweet. Musk also believed that the controversial billionaire seeks to undermine the foundations of society and holds hatred toward humanity.