business

George Soros hands son control to manage most of family’s $25 billion of assets

Alex Soros met recently with Biden administration officials, Senate Majority Leader Chuck Schumer, Brazil President Luiz Inácio Lula da Silva and Canadian Prime Minister Justin Trudeau to push for issues related to the family foundation

George Soros is known as a major supporter of liberal causes and Democratic politicians, and has long been a target of the political right.

Billionaire philanthropist and investor George Soros, 92, is handing control of his Open Society Foundations to his son Alex, who was named chair in December.

The foundation donates money to humanitarian and democratic causes ranging from criminal justice reform to climate change initiatives and controls the majority of assets managed by Soros’s $25 billion family office. The news was first reported in the Wall Street Journal and confirmed by a spokesperson for the organisation.

“I’m ...