Hedge fund manager, philanthropist, backer of liberal causes, and overall instigator of MAGA tears George Soros said he’s handing over the reins of his foundation and $25 billion empire to his 37-year-old son Alex.
In an interview published by the Wall Street Journal, the elder Soros said his son has “earned it” after previously stating he didn’t want his Open Society Foundations turned over to any of his children.
Elected by the OSF board in December as chairman, Alex now directs political activity as president of Soros’ political action committee.
Alex said he’s “more political” than his father and that he plans to continue donating family money to back left-leaning U.S. political candidates.
The foundation directs about $1.5 billion a year to groups such as those backing human rights around the world and helping build democracies.