U.S billionaire George Soros has handed over his $25 bn worth financial and charitable empire to his 37 year old son Alexander Soros.
Alexander Soros is the second youngest of George's five children. He is the only family member sitting on the investment committee for Soros Fund Management. Soros Fund Management is managing the $25 bn for the family and the charitable foundation.
Alexander took over as the chairman of Open Society Foundations in December and is also in charge of his father's "super PAC" - that is a US mechanism used to direct funds to political parties. Alexander graduated from the New York University in 2009 and holds a PhD in history from the University of California, Berkeley.
Alexander told the Wall Street Journal, that he is "more political" than his father, and that one of his top aims would be to push back against a possible second term by former president Donald Trump. He also said that the foundation would pursue the same aims it had under his father that includes, free speech, criminal justice reform, minority and refugee rights and backing liberal politicians. In addition he would like to bring in voting rights, abortion and gender equity initiatives too.
The family's wealth so far has been pre-dominantly given as charity to support democracy-building in dozens of countries. However, in the recent years, George Soros has become the focus of anti-Semitic conspiracies.
Earlier, the senior Soros had mentioned that he does not wish to hand over his Open Society Foundations (OSF) to any of his children. However, in an interview to the Wall Street Journal George has claimed that Alex has earned it.