Billionaire investor and Democratic megadonor George Soros is handing over his $25 billion philanthropic empire over to his self-described “more political” son, Alexander Soros.
Summary
Billionaire investor and Democratic megadonor George Soros is handing over his $25 billion philanthropic empire over to his self-described “more political” son, Alexander Soros.
- In an exclusive interview for the Wall Street Journal, the younger Soros, nicknamed Alex, said he and his father “think alike,” although he wants to focus his philanthropic and political efforts on issues like abortion, voting rights, and gender equity.
- The Soros clan disburses their billions through the Open Society Foundation, and George Soros had previously said he did not want one of his children to take over for him, so the decision to tap his 37-year-old son for the post marked a change from his past preferences.
- Soros founded OSF in 1993, the year after he “broke the British pound” by shorting the UK’s central bank, leading to a catastrophic recession in the UK – essentially, OSF was founded with the profits from Soros’ role in inducing widespread human misery in the UK as the result of the crashing of the British economy.
- Alex Soros will now lead both the OSF and Soros’ super PAC to direct funds to the Democratic party and left-wing candidates, a role of critical influence as his PAC will likely be one of the top political donors in the 2024 elections.
- CNN noted that while George Soros is worth an estimated $6.7 billion, most of his wealth has already been funneled into his foundation. Soros has given the Open Society Foundation $32 billion, and Democracy PAC, his political action committee, gave $81 billion during the 2019-2020 election cycle alone.
- Politico observed that despite the younger Soros’ expressed preference for domestic politics, that has not stopped him from recently meeting with several world leaders including Prime Minister Justin Trudeau of Canada and President Luis Inácio Lula da Silva of Brazil.
- The New York Times only covered the Soros news as part of their “Dealbook” newsletter and did not publish any standalone articles about it. The Times thinks it’s “unlikely” that Alex Soros will be as much of a political firebrand as his father, yet also notes Soros plans to be much more involved in domestic politics than his father.
- Fox News covered Alex Soros’ recent meeting with Vice President Kamala Harris, which “further exemplifies his intimate connection to powerful left-wing politicians in the United States.” “It’s laughable that the Left wants you to believe that the Soros family has no influence in politics,” said Republican Tennessee Sen. Marsha Blackburn of the meeting.
- The New York Post added some color to the younger Soros’ personal life. Alex Soros “has been known to favor thick-rimmed glasses and love hip-hop and the New York Jets, who are among the sports teams he often pops up to watch in the Big Apple. Less bombastic but more detail-oriented than his famous father, Alex Soros also has delved more into domestic politics than his dad.”
- Breitbart reported Soros the younger has visited the Biden White House at least 17 times in just over a year and frequently meets with top Democrats, including a recent meeting with Senate Majority Leader Chuck Schumer.
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© Dominic Moore, 2023
