George Soros hands control of empire to "more political" son
Rebecca Falconer. Felix Salmon
We gather the news that is the most important to you. As the most reliable and balanced news service on the internet, Unite America First offers the following information published by Axios:
Alex Soros is taking control of his father, George Soros', $25 billion empire, the financier and his younger son confirmed in an interview with the Wall Street Journal Sunday.
The big picture: George Soros had said previously that he didn't want any of his five children to take over his Open Society Foundations, but the 92-year-old philanthropist told the WSJ that he's now handed that and the rest of his empire to his 37-year-old son because "he's earned it."
In their interview, Democratic megadonor Soros said the pair "think alike." But his son added: "I'm more political."
Alex Soros expressed concern at former President Trump's 2024 election run. "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.
Thought bubble: Soros has already given away substantial amount of his money to his foundation. This move ensures that a Soros will continue to direct the foundation's giving for decades to come.
The intrigue: What's unclear is whether Alex Soros is as interested in the hedge-fund side of the operation as his father.
It's possible that could be wound down slowly, with the money invested in a less idiosyncratic manner.
