The businessman and philanthropist George Soros (92) has ceded control of the Open Society Foundations, endowed with 25,000 million dollars, about 23,200 million euros, to his youngest son, Alexander Soros (37), according to The Wall Street. Journal. The heir declares in an interview with the media "more political" than his father and advocates increasing support through his associations for the right to vote, abortion and gender equality.
The youngest of the sons is the only family member on the investment committee of Soros Fund Management, the firm that oversees money for the foundation and the family and analyzes Soros's fund management. In this way, he becomes the visible head on both legs of the empire.
The patriarch is known as a supporter of liberal causes and Democratic politicians, and has long been a target on the political right.
The foundation allocates some 1.5 billion dollars a year, just under 1.4 billion euros, to groups in defense of human rights, educational institutions and political campaigns linked to reducing incarceration rates and racial prejudice in the US judicial system. Alexander was already elected president of the nonprofit entity last December.
Those who work with him assure that he is attentive to detail and is involved in the day-to-day running of the foundation. In his younger days, he combined parties in Cannes and the Hamptons with trips to the Amazon to support indigenous people against the abuses of mining companies.
The decision has surprised since before the tycoon had stated that he did not want the foundation to remain in the hands of one of his children while he lived "for a matter of principle", since he preferred that it be managed by "someone more suitable".
Alexander has told the Wall Street Journal that he has recently met with Biden administration officials and other heads of state such as Brazil's President Luiz Inácio Lula da Silva and Canada's Prime Minister Justin Trudeau to push for related issues. with the family foundation.
The new head of the clan's finances is the son of George Soros's marriage to his second wife, Susan Weber. Alexander walks past his stepbrother Jonathan Soros, 52, a lawyer with a background in finance. It was believed that he was the clear successor, until there was friction and a change of heart, according to his account.
