George Soros will transfer control of his business empire to his son Alex
Alexander Soros intends to prevent Donald Trump from coming to power
Hungarian billionaire George Soros is handing over control of his stock market empire to one of his younger sons.
Source. The Wall Street Journal writes about it.
The value of the famous investor's assets is estimated at $25 billion. Control over them will be given to his 37-year-old son, Alexander Soros, who in December became the head of the board of the Open Society Foundations.
Alexander also became the only family member on the investment committee that controls Soros Fund Management (the company manages all the wealth).
"We think alike," Soros Sr. explained his choice. Alexander Soros told the WSJ that he shares his father's views, but considers himself "more politically active."
He will continue to use the family budget to support left-wing politicians in the United States and intends, in particular, to prevent Donald Trump from returning to power.
"As much as I would like to keep money out of politics, as long as the other side is doing it, we have to do it too," Alex said.
The WSJ reminds that George Soros had previously stated that he did not plan to pass his funds to his children out of principle. At the same time, for many years, people close to the family considered his eldest son Jonathan Soros, a lawyer with a financial background, to be the main successor.
However, then disagreements arose between him and his father, and Alex eventually managed to "win George Soros's trust" by replacing him on business trips around the world.
George Soros became rich in the 1970s and 1980s as a hedge fund manager and gained wide popularity after he earned more than $1 billion in 1992 by playing against the pound sterling.
Soros' network of charitable foundations funds projects in education, culture and the arts, healthcare, and NGOs to create more transparent and democratic communities around the world.
Background. As a reminder, Elon Musk recently compared Soros to a villain and called the Bellingcat investigators a "NATO propaganda project."
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