George Soros’s son Alex now runs his father’s $25 billion (£19.9 billion) business and charity empire.
The financier of Hungarian descent stated in an interview with the Wall Street Journal that his son had “earned it.”
Since the 1990s, the family’s fortune has been used to support the spread of democracy in dozens of nations.
The 92-year-old former hedge fund manager has become the target of anti-Semitic conspiracies in recent years.
George Soros is also one of the largest Democratic Party donors. Alex, who has a degree in history and is 37 years old, is the second-youngest of his five offspring.
Alex is the only family member on the investment committee for Soros Fund Management. The Wall Street Journal-reported entity that manages the $25 billion for the family and charitable foundation.
In December, Alex took over as chairman of the Open Society Foundations (OSF) and is also in command of his father’s “super PAC,” a US mechanism for directing funds to political parties.
While they generally share the same political views, he told the Wall Street Journal that he is “more political” than his father and that he would oppose Donald Trump’s bid for a second term as president of the United States.
“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,” said Alex Soros.
He stated that the Open Society Foundations would pursue the same goals as his father, including free speech, reform of the criminal justice system, minority and refugee rights, and support for liberal legislators. In addition, he intends to include voting rights, abortion, and gender equity initiatives while pursuing a more US-centric agenda.
George Soros, his father, was born in Hungary and lived through the 1944-1945 Nazi occupation as a child. To endure, his family concealed their Jewish identity.
After the war, he fled Hungary for London and then New York, where he made billions in hedge funds.
In 1992, he profited $1 billion by correctly predicting that the pound would decline.
When the Berlin Wall fell, paving the way for democratic administrations to be established in the former Soviet bloc. He established the Open Society Foundations (OSF) to support the process. In nearly 120 nations, the OSF spends $1.5 billion on liberal causes, education, and human rights.
Some of its causes, such as combating racial bias in the U.S. justice system, have infuriated the right wing.
In 2018, the OSF relocated its international operations office from Budapest to Berlin in response to the Hungarian government led by Viktor Orban’s explicit anti-Soros and anti-work campaign.
Alex Soros is a devotee of hip-hop and the New York Jets American football team, and he is renowned for his “high-flying” social life, which includes attending celebrity parties in Cannes and the Hamptons. He joined Global Witness’s board and toured remote Amazon districts.
“Our side needs to be more inclusive and patriotic,” he told the newspaper. “Voting for Trump does not imply that a person is lost or racist.”
