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American billionaire and philanthropist George Soros is handing over control of his empire of foundations, valued at $25 billion, to his son Alexander Soros, the Wall Street Journal reported.
Hated by the ultraconservatives, a frequent target of anti-Semitism, George Soros began in the 1980s to create the Open Society Foundations system, which invests around the world in causes ranging from economic and justice reforms to minority and refugee rights, as well as in free speech, notes AFP.
Ninety-two-year-old Soros has now decided to pass the baton to his 37-year-old son.
In an interview with the Wall Street Journal published today, Alexander Soros says he is "more politicized" than his father and that he is troubled by the idea that former Republican President Donald Trump could be re-elected to the White House in 2024. "I would like money not to play such a big role in politics, but since the other side is doing it, we will continue to do it too," he told the newspaper.
Under his leadership, Open Society is expected to continue on the same path - supporting democracies and left-leaning American politicians, but also adding other causes such as abortion rights and gender equality.
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