George Soros hands control of his $25 billion empire to his son Alex

Philanthropist and billionaire George Soros Confirmed he is surrendering control of his $25 billion empire to his son Alex.

Soros, 92, net worth $6.7 billion, According to Forbesand is one of the 400 richest people in the world. In 2017, he moved $18 billion From his family office to his Open Society Foundations – a charity operating in more than 100 countries – Alex was named chairman in December.

alex, yes In an exclusive interview with The Wall Street Journal published over the weekend, said he was “more political” than his father and suggested that the Soros organization played a major financial role in next year’s U.S. election. The Open Society Foundations did not immediately respond to CNBC’s request for comment, but a spokesman confirmed the details of the Reuters interview.

Soros, 37, expressed his concern about the possible return of former U.S. President Donald Trump, telling the Wall Street Journal: “As long as the other side does it, I’m tempted to make money from politics, and we have to do the same.”

The elder Soros, a frequent target of right-wing conspiracy theorists, has been one of the largest donors to the U.S. Democratic Party — donating some $140 million in 2021 to politically charged advocacy groups and voting initiatives.

George Soros Known as the man who ‘broke the Bank of England’ after he shorted the British pound in 1992, making a reported $1 billion profit, George Soros left Hungary At the age of 17, he studied at the London School of Economics and worked as a railway porter and waiter.

Billionaire Elon Musk recently attacked Soros on Twitter Soros Fund Management Reduced holdings of Tesla shares. Musk claims he “hates humans” and “want to erode the fabric of civilization.” In the Wall Street Journal article, Soros called himself “the go-to person when they want to blame someone.”

Musk defended his comments in an interview with CNBC’s David Faber, saying he doesn’t care if his inflammatory tweets scare off investors or customers. “I’ll say what I want to say, and if you lose money by doing this, then so be it,” Musk told CNBC.

Soros’ eldest son and Alex’s half-brother, Jonathan Soros, founder and CEO of private investment firm JS Capital Management, was previously considered a “clear successor,” according to the Wall Street Journal.

“In principle, I don’t want the foundation to be taken over by one of my children. I think it should be run by whoever is best suited,” George Soros told the publication, adding that Alex “has earned” his trust.

According to an excerpt on the Open Society Foundations website, George Soros once said: “My success in the financial markets has given me a greater degree of independence than most other people.”

“I believe in philanthropy, success or failure, the right thing to do.”