According to a news interview, billionaire investor and philanthropist George Soros is handing control of his $25 billion empire to his younger son Alexander Soros, reports Breaking News.
Soros, pictured with his mate Bono above, will be 93 in August.
Mr. Soros’ corporate investments include his nonprofit Open Society Foundations (OSF), which operates in more than 120 countries around the world and donates about $1.5 billion annually to groups working on human rights and development of promoting democracy around the world.
Alexander Soros, 37, told The Wall Street Journal he is “more political” than his 92-year-old father, who is a right-wing target because he advocates liberal causes like reducing racial bias in the justice system. However, he found that both “think alike”.
Mr Soros said he was expanding his father’s “liberal goals” to include a variety of issues, including voting and abortion rights and gender equality.
In December, the OSF board elected Alexander Soros as chairman, replacing his father.
The newspaper also reported that Alexander Soros is now leading political activities as the chairman of Soros’ Super-Political Action Committee (PAC), reports Breaking News.
“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, reports Breaking News.
According to the Wall Street Journal, Alexander Soros is the eldest of two sons from George Soros’ marriage to his second wife, Susan Weber.
The nomination goes to George Soros’ eldest son Jonathan Soros (52), a lawyer with a financial background.
According to the newspaper, he was considered the clear successor until ““a falling out and a change of heart”, according to the paper, reports Breaking News.
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