US billionaire philanthropist George Soros has given his son Alex control of his $25 billion (£19 point 9 billion) financial and charitable empire.
In an interview with the Wall Street Journal, the financier of Hungarian descent claimed that his son had "earned it.".
The family's wealth has been used to support the establishment of democracies in a number of nations since the 1990s.
But in recent years, conspiracies against the 92-year-old former hedge fund manager have focused on him.
Another major contributor to the US Democratic Party is George Soros. The second-youngest of his five children is a 37-year-old history graduate named Alex.
The only family member on the Soros Fund Management investment committee is Alex, according to the Wall Street Journal, which organization is in charge of managing the $25 billion for the family and the charitable foundation.
In addition to running his father's "super PAC," a US system for allocating money to political parties, Alex assumed the chairmanship of the Open Society Foundations (OSF) in December.
While they generally hold similar political views, he claimed to be "more political" than his father and that he would work to defeat Donald Trump's bid for a second term as president, according to the Wall Street Journal.
Despite my desire to profit from politics, Alex Soros said that as long as the opposing side is engaging in it, so must we.
He declared that the Open Society Foundations would continue to support liberal politicians and pursue the same objectives as his father had, including free speech, reform of the criminal justice system, rights of minorities and refugees. While pursuing a more domestically oriented US-focused agenda, he also wants to include initiatives related to voting rights, abortion, and gender equity.
George Soros, his father, was born in Hungary, where as a young child he experienced the horror of the Nazi occupation in 1944–1945. For survival, his family kept their Jewish heritage a secret.
He fled Hungary for London after the war, then relocated to New York, where he established a hedge fund and amassed enormous wealth.
After winning $1 billion on a 1992 prediction that the pound would decline, he became well-known in the UK.
He established the Open Society Foundations (OSF) to assist in the process when the Berlin wall came down, paving the way for the installation of democratic governments in the former Soviet bloc. In support of liberal causes, educational institutions, and human rights in more than 120 nations, the OSF now contributes about $11 billion annually.
Combating racial bias in the US justice system is one of its causes that has offended the right wing.
After the Viktor Orban-led Hungarian government launched a public campaign against George Soros personally and against the work of the foundation, the OSF relocated its international operations office from Budapest to Berlin in 2018.
Hip-hop and American football fan Alex Soros, who frequents parties for famous people in Cannes and the Hamptons, is known for his "high-flying" social life. Additionally, he joined the board of Global Witness, a human rights advocacy organization, and has traveled to far-flung regions of the Amazon.
According to him, "Our side has to do better about being more patriotic and inclusive.". "Just because someone supported Trump, it doesn't necessarily mean they're ignorant or racist.
. "
