Left-wing megadonor George Soros told the Wall Street Journal that his 37-year-old son, Alexander Soros, is taking control of the financier’s $25 billion empire.
Soros, 92, a hedge fund manager who built his fortune five decades ago by placing wagers in global stock, bond, and currency markets amid economic and political shifts, became a major backer of leftist causes through his nonprofit Open Society Foundations.
The foundation reportedly directs approximately $1.5 billion annually to other organizations, universities, and political action committees worldwide. George Soros himself has become known for financing political action committees dedicated to electing reform-minded district attorneys and law enforcement officials.
He previously said he would not allow one of his five children to take over the organization. But Soros reportedly changed his mind after confirming his son Alex would command the group, which has funded several leftist activist groups around the world as well as educational organizations.
“He’s earned it,” Soros told the Journal. “We think alike.”
Alex told the outlet he intends to be more politically active than his father and would broaden his father’s vision for a more liberal society.
“I’m more political,” Alex said.
Alex, who has recently met with Biden administration officials, Democratic lawmakers, and other government leaders such as Brazil’s President Luiz Inácio Lula da Silva and Canada’s Prime Minister Justin Trudeau, suggested the organization would play a significant financial role in the 2024 presidential race.
“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.
According to Federal Election Commission records reported by The New York Post, Alex donated $726,900 to the Biden Victory Fund for the 2020 election and has contributed approximately $11 million to left-wing PACs since 2010.
However, Alex said Democratic politicians need to broaden the party’s appeal and become better about “being more patriotic and inclusive” to improve Latino and black voter turnouts.
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“Just because someone votes Trump doesn’t mean they’re lost or racist,” he said.
He also plans to use the foundation to advocate for voting and abortion rights, and gender-based issues while believing that college campuses and other public squares have become too restrictive with freedom of speech.
“I have some differences with my generation in regard to free speech and other things—I grew up watching Bill Maher before bed, after all,” he said.
According to Reuters, the Open Society Foundations board elected Alex as its chairman at the end of 2022.
In response to the news breaking on Sunday, billionaire Elon Musk tweeted that Alex has been “de facto in charge for several years.”
“If @AlexanderSoros is serious about freedom of speech, then we have common ground,” Musk tweeted. “But destroying public safety by electing D.A.s who won’t prosecute violent criminals needs to stop.”
Musk recently tweeted that George Soros reminded him of the Marvel character “Magneto,” who is known for his ability to generate and control magnetic fields.
After drawing criticism for his comments, Musk doubled down, writing: “I’d like apologize for this post. It was really unfair to Magneto.”
“He wants to erode the very fabric of civilization,” Musk said. “Soros hates humanity.”