George Soros Hands Reins of $25 Billion Empire to Son
Alex Soros Takes Over Family's Financial and Charitable Operations
Move Signals a Shift in Leadership for One of the World's Largest Fortunes
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US billionaire philanthropist George Soros has transferred control of his sprawling financial and charitable empire to his son Alex Soros, signaling a major shift in leadership for one of the world's largest fortunes.
Alexander Soros, born October 27, 1985, is an American investor and philanthropist. One of the five sons of billionaire George Soros, he chairs the Open Society Foundations, a network of foundations that support human rights, democracy, and government transparency around the world.
The move by George Soros, 93, comes as he steps back from the day-to-day operations of his vast global investment fund, Soros Fund Management, and his philanthropic endeavors. It is seen as a reflection of his confidence in his son's ability to manage the family's wealth and carry on his legacy.
The Soros empire spans a wide range of investments, including hedge funds, private equity, and real estate. The family's estimated net worth is $25 billion to $19 billion. The Open Society Foundations have distributed more than $30 billion in grants since they were founded in 1993.
Alex Soros is expected to continue his father's philanthropic work, while also overseeing the family's investment activities. He is a graduate of Yale University and the London School of Economics and has worked as an investment banker and portfolio manager.
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