George Soros hands over the reins to son Alex, who vows to send more money to liberal causes
Financier George Soros has handed control of his $25 billion empire to his son Alex, who vows to use the family’s money to advocate for more liberal causes.
The 37-year-old heir told the Wall Street Journal that he will broaden his father’s waking goals, but embrace different goals, such as voting and abortion rights, as well as gender equality.
“I’m more political,” said Alex, comparing himself to his father. He has already visited the White House 14 times in just over a year and met with major Democrats.
But Soros’ nonprofit, the Open Society Foundation, already spends about $1.5 billion a year on groups that support human rights around the world and build democracies, while also funding several universities.
And the family’s super PAC, the Democracy PAC, has supported the election campaigns of awakened prosecutors and other law enforcement officials seeking to reduce incarceration rates and perceived racial bias in the justice system.
Financier George Soros has handed over the reins of his empire to his son Alex, right?
He has claimed to be “more political” than his notoriously awake father
In December, the OSF board elected Alex chairman, replacing his 92-year-old father.
He now directs political activities as president of Soros’ super PAC and is the only family member on the investment committee overseeing Soros Fund Management, the group that oversees money for the foundation and the family.
Alex plans to use about $125 million of his $25 billion reserve for the super PAC, while most of the money will be used for the OSF.
Speaking to the Wall Street Journal about his goals, Alex said he is concerned about the possibility of Donald Trump returning to the White House — suggesting the family will be a major contributor to Democrats in the 2024 presidential election.
“As much as I’d like to get money out of politics, as long as the other side is doing it, we’ll have to do it too,” he said.
But unlike many others on the left, Alex said he feels freedom of speech on campus has become too restricted.
“I have some differences with my generation regarding freedom of speech and other things,” he said.
“After all, I grew up watching Bill Maher before I went to bed,” he noted, referring to the TV personality who has spoken out against restrictions on free speech on college campuses.
Alex said he plans to use his family’s money to advocate for increased voting and abortion rights
Alex made more than a dozen trips to the White House last year
Since taking over his father’s business, sources say, Alex has been paying attention to details his father would generally ignore.
He brings a small notebook to meetings, which he fills with notes for staff members.
“He can drive people in the foundation crazy because he’s so hands-on,” said Anthony Romero, executive director of the American Civil Liberties Union, which receives OSF funding.
Alex also regularly posts photos of himself with Democratic politicians including Nancy Pelosi, Barack Obama and Senator Chuck Schumer – whom he called a “good friend.”
And recently updated White House logs reveal he’s been there at least 14 times since December 2021.
Last year Alex made two trips in April, three in September, four in October and four in December.
Another visit was registered in December 2021.
On December 1, 2022, he met with then-Chief of Staff Ron Klain’s adviser Nina Srivastava, who was working on Biden’s presidential campaign.
That same day, he was one of 330 people to attend a state dinner hosted by President and First Lady Jill Biden.
The event was in honor of French leader Emmanuel Macron and his wife Brigitte.
The day after, he met with both Advisor to the Counselor of President Mariana Adame and Deputy National Security Adviser Jonathan Finer.
Alexander Soros, 37, regularly posts photos of himself with Democratic politicians, including Nancy Pelosi and Barack Obama
It marks a change in tone from his father, who is typically of a lower profile and exerts his influence through donations to liberal causes. He is pictured with Pelosi, left, and pictured with Secretary of Transportation Pete Buttgieg, right
But Alex was considered a contender to take over his family fortune, with many people close to the Soros believing his older half-brother, Jonathan, 52, would take over the reigns.
Jonathan is a lawyer with a financial background, worked at the foundation for a while and stabilized the Soros hedge fund during turbulent times.
Meanwhile, Alex had been known for years for his flamboyant lifestyle, picking up models and befriending NBA legends.
Somewhere along the way, however, Alex gained his father’s trust by replacing George on trips to the organization’s offices around the world.
Since 2018, he has pumped about $5.7 million into left-wing political action committees and Democratic campaign coffers, according to Federal Election Commission documents.
His largest contribution was $2 million in 2018 to Senate Majority PAC, which is tied with Senate Majority Leader Chuck Schumer.
“He deserved it,” George said.
George made his billions as a hedge fund magnate in the UK. His Open Society Foundation and related non-profits have donated more than $42 billion worldwide.
However, the Hungarian-American financier has come under the spotlight in recent weeks as he became embroiled in the fallout surrounding Trump’s arrest.
Trump regularly accuses George of funding Manhattan DA Alvin Bragg and suggests he is responsible for the case that revolves around a $130,000 hush money payment to porn star Stormy Daniels.
George donated $1 million in 2021 to the left-wing Color of Change political action committee that supported Bragg.
On April 2, the Trump campaign wrote: “Left Democratic District Attorney Alvin Bragg fabricated a false charge against President Donald J. Trump. It is an unprecedented political persecution of the 45th president of the United States and a blatant attempt to interfere in the 2024 election.
It added that “the American people and Republican primary voters are particularly outraged by the arming of our justice system by George Soros’ handpicked and funded Manhattan DA against a completely innocent person and the leading Republican nominee for president.”
But George hit back at the allegations vehemently, claiming he had no connection to Bragg.
His spokesman Michael Vachon said, “George Soros never met, spoke to or otherwise communicated with Alvin Bragg.
“Neither George Soros nor Democracy PAC (a PAC to which Mr. Soros contributed money) contributed to Alvin Bragg’s campaign for Manhattan District Attorney.”
The billionaire himself says he does not know Bragg and has never directly funded his campaign.
“I didn’t contribute to his campaign and I don’t know him,” George told Semafor.
“I think some on the right would rather focus on far-fetched conspiracy theories than the serious charges against the former president.”