Active Support for Anti-Trump Campaign Announced
WSJ "Decision to Inherit by Children Very Unexpected"
George Soros, the 92-year-old American 'billionaire' investor, has chosen his son Alexander Soros (37, hereafter Alex) as his successor.
On the 11th (local time), the American daily The Wall Street Journal (WSJ) reported that Soros is transferring his $25 billion (approximately 32.2875 trillion KRW) business to Alex.
Alex, who has become Soros's official successor, is the eldest of two sons born to Soros and his second wife. He earned a Ph.D. in history from the University of California, Berkeley, after attending New York University.
In December last year, Alex was already elected chairman of the Open Society Foundations (OSF), a nonprofit organization established by Soros, and he is actively engaged in political activities as chairman of Soros's political action committee.
WSJ added that Alex is also the only family member participating in the investment committee of Soros Fund Management (SFM), which manages the foundation and the family's assets.
Regarding this, Soros's spokesperson stated that most of Soros's $25 billion fortune is expected to be transferred to OSF over the coming years, and $125 million (approximately 161.4 billion KRW) will be allocated to Soros's Super PAC (special political action committee).
OSF annually provides $1.5 billion (approximately 1.9377 trillion KRW) in funding to organizations working worldwide to promote human rights and build democracy, as well as supporting universities and other educational institutions.
Alex: "Supporting Progressive Groups and Politicians Like My Father"
In his first interview as successor, Alex described himself as center-left and stated that he is focusing on expanding the progressive agenda pursued by his father to include issues such as abortion, voting rights, and gender equality.
Alex said he is more political than his father, George Soros, and plans to continue supporting progressive politicians.
He also expressed concern about Donald Trump's re-election bid and indicated a willingness to provide substantial financial support to progressive candidates in the 2024 presidential election.
Meanwhile, WSJ noted that Soros had previously declared he would not pass OSF on to his children, making this decision surprising to some. It also added that it was unexpected that Alex, rather than Jonathan (52), who was considered the most likely successor, was chosen.
Jonathan, a lawyer, is the third son from Soros's first marriage and has experience working at the Soros Foundation's Budapest office and Soros's investment company.
Jonathan reportedly stepped away from Soros's investment business in 2011 for family peace and has since lived in Manhattan with his wife and three children while engaging in various public interest projects, according to WSJ.
Meanwhile, Soros, a Holocaust survivor from Hungary, gained worldwide fame in 1992 by predicting the fall of the British pound and making an aggressive bet that earned him a profit of $1 billion (approximately 1.291 trillion KRW) at the time.
Since then, Soros has established the nonprofit OSF, conducting education, healthcare, and civil society support projects in various countries, and is also known as one of the leading donors to the progressive camp.
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