Hungarian-American billionaire philanthropist George Soros has decided to hand over the running of his $25 billion philanthropic and charitable empire to his son, Alex Soros. A representative for Soros, a prominent supporter of liberal and democratic organizations, confirmed the news to Reuters after the Wall Street Journal first reported it in an interview with Soros published on June 11.
While speaking to the WSJ, he said:
“He’s earned it.”
This comes after the 92-year-old personality previously said he did not want his five children to take over his Open Society Foundations (OSF).
For over three decades, the family has been investing their wealth toward supporting democracy in numerous nations. In recent years, the spotlight has been on the former hedge fund manager, who has been the subject of anti-Semitic conspiracies.
George Soros has five children from three marriages
Up until now, George Sorors has tied the knot three times and divorced twice. He first got married in 1960 to Annaliese Witschak, who was orphaned during World War II. The duo shared three kids - Robert, Andrea, and Jonathan. Soros and Witschak got divorced in 1983. The same year, George got married to Susan Weber. During their marriage, they welcomed two children - Alexander and Gregory.
George's kids have each established a reputation for themselves in their own unique way. Robert is the founder of Central European University, Budapest. Additionally, he has established a series of foundations throughout eastern Europe.
Andrea started the Trace Foundation, which works to help Tibetan villages in China keep their culture and traditions alive. She is also a founder member and board member of the Acumen Fund, which provides money to entrepreneurs with innovative ideas for eliminating poverty throughout the world.
Jonathan has followed in his father, George Soros' footsteps and now works as a hedge fund manager while also contributing to political campaigns. He is a co-founder of Friends of Democracy, a super PAC dedicated to limiting money's influence in politics.
George Soros' kids from his second marriage have also made a name for themselves. While Alexander is known for being a political donor for various causes, Gregory is an artist.
Alexander and George mostly share the same political views. In the same interview as his father, he told Wall Street Journal that he is "more political" than him and will also campaign against Donald Trump's second attempt at the 2024 presidential elections.
"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."
In December 2022, the OSF board elected Alex as its chairman. He now directs Soros' political activity in the United States as president of his political action committee.
George Soros tied the knot with Tamiko Bolton in 2013.
Born on August 12, 1930, George Soros is a native of Budapest, Hungary. His family secured false identification papers and survived the Nazi occupation. In 1979, George Soros began his philanthropic work by awarding scholarships to Black South Africans living under apartheid. He went on to establish a successful career as a financier.
Soon after, he started working on problems related to freedom of expression and thought by providing funds to the West. In 1989, after the fall of the Berlin Wall, he established Budapest's Central European University to begin critical thinking.