George Soros’s son takes over the $25 billion family empire: Who is Alexander Soros?

George’s comments from earlier this year, in which he criticised Indian Prime Minister Narendra Modi, also led to some criticism against him in India. External Affairs Minister S Jaishankar described Soros as “old, rich, opinionated, and dangerous” at the time.

Who is Alexander Soros?

Alex, 37, is George’s elder son from his second marriage to Susan Weber, and is being seen as a surprising choice for a successor by some.

Alex Soros graduated from New York University in 2009 with a BA in History and received his PhD in 2018 from the University of California, Berkeley, with a thesis on “Jewish Dionysus: Heine, Nietzsche and the Politics of Literature.”

It was only in 2015 that he joined the OSF full-time, and his previous role as a part-time employee also did not give any indication that he was being groomed to succeed George, according to what some ex-employees at OSF told WSJ.

Soros senior said in an earlier interview that he did not want OSF to be taken over by his children “as a matter of principle”, and that it should be managed by someone who was “best suited.”

But even a change of heart is unusual for people familiar with the organisation, as it was believed that if anyone would replace him, it would be Jonathan Soros – his youngest son from his first marriage to Annaliese Soros.

Early on, Alex’s appearances at the organisation had been understated, and he was mostly known for making headlines in relation to his social life. WSJ quotes a 2016 headline from Daily Mail, a UK tabloid, as saying, “Gorgeous models, NBA pals and hide-and-seek at his mansion: Welcome to the lavish life of investor George Soros’ playboy son.”

What has he said of the work at OSF?

Alex told WSJ that he is “more political” than father but that the two “think alike.” Alex said he was broadening his father’s “liberal aims” and embracing different causes, including voting rights, abortion rights and gender equity. He said he aims to keep using the family’s wealth to back left-leaning US politicians. Alex also said in the interview that he recently met with US government officials and heads of state, including Brazil’s President Luiz Inácio Lula da Silva and Canada’s Prime Minister Justin Trudeau, to push for issues related to the family foundation.

The Wall Street Journal reported that the younger Soros is the only family member on the investment committee overseeing Soros Fund Management, which manages money for the foundation and the family. He also expressed concern that former US President Donald Trump would return to the White House and hinted that the Soros organisation would play a key financial role in the 2024 presidential race.

“As much as I would love to get money out of politics, as long as the other side is doing it, we will have to do it, too,” he said, adding, “Our side has to be better about being more patriotic and inclusive… Just because someone votes Trump doesn’t mean they’re lost or racist.”

The WSJ article also said Alex has indicated a greater support for Jewish causes and charities, compared to his father. “Alex, by contrast, has visited Israel several times and he celebrates such Jewish religious holidays as Rosh Hashana and Passover,” it says.

What exactly is Open Society Foundations and who is George Soros?

Soros’s non profit organisation Open Society Foundations was founded in 1993 and is active in more than 120 countries around the world. Around $1.5 billion is given through it annually, to groups backing human rights and promoting the growth of democracies around the world, as per its website.

In 2020, for instance, when Black Lives Matter protests were held across the US to demand racial equality and justice for Black Americans, OSF announced investments of $220 million to “build power in Black communities, promote bold new anti-racist policies in US cities, and help first-time activists stay engaged.” It has also given millions to people in Afghanistan in the aftermath of the Taliban takeover and to Ukrainian refugees.

While the oSF website says that Soros began his philanthropic work in the late 1970s, supporting democratic causes in Eastern Europe and China, it was after the fall of the Berlin Wall in 1989 that it began in full force.

Soros was born in Hungary in 1930 and lived through the Nazi occupation of 1944–1945, which resulted in the murder of over 500,000 Hungarian Jews, as per the OSF website. “His own Jewish family survived by securing false identity papers, concealing their backgrounds, and helping others do the same. Soros later recalled that ‘not only did we survive, but we managed to help others,’” it adds.

After the War, as the Communists consolidated their position in Hungary, Soros left for London where he got a degree from the London School of Economics, before becoming an investment banker. He opened his first hedge fund, Double Eagle, in 1969. In 1973, he opened Soros Fund Management, and went on to become one of the most successful investors in the history of the United States.

Soros has been criticised from rightwing groups for his charitable giving. In February this year, he criticised Indian Prime Minister Narendra Modi, saying the PM was “no democrat” but the Adani “affair”, referring to the Hindenburg Research report that came out at the time, could “open the door to a democratic revival” in India.

(With AP inputs)