George Soros hands reins over to son, Alex, who promises to push more funding to liberal
Financier George Soros has handed control of his $25billion empire to his son, Alex, who is vowing to use the family’s money to advocate for more liberal causes.
The 37-year-old heir told the Wall Street Journal that he will broaden his father’s woke aims, but embrace different causes like voting and abortion rights as well as gender equality.
‘I’m more political,’ Alex said, when comparing himself to his father. He has already visited the White House 14 times in just over a year and met with big-name Democrats.
But the Soros’s nonprofit, Open Society Foundation, already directs about $1.5billion a year to groups that back human rights around the world and build democracies, while also funding various universities.
And the family’s super PAC, the Democracy PAC, has backed the election campaigns of woke district attorneys and other law enforcement officials seeking to reduce incarceration rates and perceived racial bias in the justice system.
Financier George Soros has handed over the reins of his empire to his son Alex,right
He has claimed to be ‘more political’ than his notoriously woke father
In December, the OSF board elected Alex as its chairman, replacing his 92-year-old father.
He now directs political activity as the president of Soros’ super PAC and is the only family member on the investment committee overseeing Soros Fund Management, the group that oversees money for the foundation and the family.
Alex plans to use abut $125million of its $25billion reserve for the super PAC, while the majority of the money will be used for the OSF.
Speaking to the Wall Street Journal about his goals, Alex said he was concerned about the possibility of Donald Trump returning to the White House — suggesting the family will contribute greatly to Democrats in the 2024 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,’ he said.
But in contrast with many others on the left, Alex said he believes free speech on campus has become too restricted.
‘I have some differences with my generation in regard to free speech and other things,’ he said.
‘I grew up watching Bill Maher before bed, after all,’ he noted, referring to the TV personality who has spoken out against limitations on free speech on college campuses.
Alex said he plans to use his family’s money to advocate for more voting and abortion rights
Alex made more than a dozen trips to the White House last year
Since taking over his father’s firm, sources said, Alex attends to details his father would generally ignore.
He carries a small notebook to meetings, which he fills with notes to staffers.
‘He can drive folks in the foundation crazy because he’s so hands-on,’ said Anthony Romero, executive director of the American Civil Liberties Union, which receives OSF funding.
Alex also frequently posts shots of himself with Democratic politicians including Nancy Pelosi, Barack Obama and Sen. Chuck Schumer – whom he called a ‘good friend.’
And recently-updated White House logs reveal he has visited at least 14 times since December 2021.
Last year Alex made two trips in April, three in September, four in October and four in December.
Another visit was logged in December 2021.
On December 1 2022, he met with then Chief of Staff Ron Klain’s advisor Nina Srivastava who worked on Biden’s presidential campaign.
The same day he was one of 330 people to attend a state dinner hosted by the President and first lady Jill Biden.
The event was to honor French leader Emmanuel Macron and his wife Brigitte.
The day afterwards he met with both Advisor to the Counselor of President Mariana Adame and Deputy National Security Advisor Jonathan Finer.
Alexander Soros, 37, frequently posts shots of himself with Democratic politicians including Nancy Pelosi and Barack Obama
It marks a change in tone from his father who typically keeps a lower profile and exerts his influence through donations made to liberal causes. He is pictured with Pelosi, left, and Pictured with Secretary of Transportation Pete Buttgieg, right
But Alex had been considered a long shot to take over his family fortune, with many people close to the Soros’s believing his older half-brother, Jonathan, 52, would take over the reigns.
Jonathan is a lawyer with a finance background, who worked for a time at the foundation and stabilized the Soros hedge fund during turbulent times.
Alex, meanwhile, had for years been known for his flamboyant lifestyle, picking up models and befriending NBA legends.
Somewhere along the way, though, Alex gained his father’s trust — standing in for George on trips to the organization’s offices around the world.
Since 2018, he has pumped around $5.7 million into left-leaning political action committees and Democratic campaign coffers, according to Federal Election Commission filings.
His biggest contribution was $2 million in 2018 to Senate Majority PAC, which is tied to Senate Majority Leader Chuck Schumer.
‘He’s earned it,’ George said.