(DCWatchdog.com) – Far-left billionaire George Soros, one of the Democratic Party’s biggest donors, is seemingly calling it quits and transferring control over his $25 billion business empire to his son Alexander.
Alexander Soros, 37, is the fourth child of 92-year-old George Soros, from his second marriage.
According to Forbes, George Soros is among the world’s 400 wealthiest people, with a $6.7 billion fortune.
His son Alexander Soros was appointed chairman of his father’s Open Society Foundations in December 2022.
In 2017, the far-left billionaire transferred $1.8 billion from his wealth to the Open Society Foundations network.
Investment banker Jonathan Soros, Alex’s older half-brother, and the billionaire’s eldest son, had been expected previously to become his father’s “clear successor,” CNBC reports, quoting The Wall Street Journal.
However, George Soros told the newspaper that Alex had “earned” his trust.
“I didn’t want the foundation to be taken over by one of my children, as a matter of principle. I thought it should be managed by someone who is best suited,” the 92-year-old billionaire said.
In his comments to the WSJ, Alexander Soros declared he was “more political” than his father. He also suggested the Soros network would play a significant financial role in the 2024 US presidential election.
“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,” George Soros’s successor told the news outlet.
He clarified his worries about a potential White House return of former US President Donald Trump.
In 2021 alone, the older Soros donated about $140 million to “politically charged advocacy organizations and ballot initiatives in 2021.”
“My success in the financial markets has given me a greater degree of independence than most other people. I believe that in philanthropy one should do the right thing, whether or not it succeeds,” George Soros told The Journal.
In a recent attack on Soros, the world’s former richest person, Elon Musk, slammed Soros as someone who “hates humanity” and “wants to erode the very fabric of civilization.”
In the WSJ article, Soros said he was the “go-to man when they want to blame someone.”