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US investor Soros hands over business to son

US investor George Soros hands over control of his foundations to his son Alexander. He makes it clear: one of his most important tasks is the fight against a possible re-election of Trump.

US billionaire George Soros wants to transfer his business empire to his son Alexander, 37. Both shared this in an interview with the “Wall Street Journal” (WSJ).

Soros’ activities also include his non-governmental organization Open Society Foundations (OSF). The foundation group gives around $1.5 billion annually to groups that advance human rights and democracy around the world, according to its website. According to the newspaper, the OSF board of directors elected Alexander Soros as chairman back in December.

Alexander Soros said one of his most important concerns was to fight ex-President Donald Trump’s re-election. “I wish money wouldn’t play such a big role in politics, but as long as the other side does it, we have to keep doing it too,” Alexander Soros told the newspaper.

Under his direction, the foundation will support democracies and figures on the political left in the United States. But he also wants to work on other issues such as abortion rights and gender equality and promote programs that are intended to encourage Latinos and African Americans to participate in elections.

He also wants to get more involved in the USA than his father. “Our camp needs to be more patriotic and inclusive,” he said. “Just because someone votes for Trump doesn’t make them lost or a racist.” He himself is “more political” than his father, according to Alexander Soros. He is one of the largest donors to the US Democrats.

billion bet against the British pound

Born in Hungary, George Soros is considered a philanthropist and became wealthy as a financial expert and hedge fund manager in the 1970s and 1980s. As an enemy of many populists and as a Jew, Soros is repeatedly the target of anti-Semitic hostilities.

He rose to fame with a multi-billion dollar bet against the pound sterling in 1992: he thought the currency was overvalued and sold more than $10 billion worth of pounds short, was right, and earned around $1 billion from it, according to estimates. According to current Forbes information, his private fortune is $6.7 billion.

In 2011, he turned his hedge fund Soros Fund Management into a family office. According to Bloomberg data, the family office Soros Capital Management managed investments worth $28 billion in May 2022, including the OSF.

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