US billionaire George Soros transferred his empire to his son.
According to some sources, George Soros, the US billionaire philanthropist, transferred his financial business and charitable organizations to his son Alex. His “business” and “charitable empire” have a total value of around $25 billion.
He said his son is capable of doing that and earning all this on his own.
The family’s fortune has been used to help establish democracies in a number of nations since the 1990s.
The 92-year-old “former hedge fund manager,” Mr. Soros, meanwhile, has become the focus of “anti-Semitic suspicions” recently.
Mr. Soros is also one of the substantial contributors to the “US Democratic Party,” and his son, Alex, 37, is the “second-youngest” of his children.
The “Wall Street Journal” reports that the Soros “Fund Management entity,” which is managing the $25 billion for the family and the nonprofit foundation, only has one other family member on the committee overseeing investments.
When Alex became chairman of the “Open Society Foundations (OSF)” in December, he controlled his father’s “super PAC,” a US system for allocating money to political parties.
He declared that the objectives of the “Open Society Foundations,” which were free speech, reform of the “criminal justice system,” the rights of “minorities and refugees,” and the same level of “liberal applicant support” as under his father, would continue. However, he also seeks to boost policies related to voting rights, gender equity and abortion while supporting a more domestically oriented agenda in the US.
Mr. Soros was born in Hungary, where, as a young child, he experienced the horror of the Nazi occupation in 1944–1945. For survival, his family kept their Jewish heritage a secret.
He shifted to London from Hungary after the war, then relocated to New York, where he established a “hedge fund” and amassed “enormous wealth.”
After the “Viktor Orban-led Hungarian” authorities launched a public campaign against George Soros personally as well as against the activity of the foundation, the OSF relocated its “international operations office” from Budapest to Berlin in 2018.
Hip-hop enthusiast Alex Soros, who supports the “New York Jets” American football club, is well-known for his “high-flying” social life. He frequently attends celebrity events in the Hamptons and Cannes. In addition, he joined the board of “Global Witness,” a human rights advocacy organization, and has visited remote areas of the Amazon.