Billionaire George Soros, 91, announced on Sunday that he is handing control of his empire to his son, Alexander. Soros, a Hungarian-American investor and philanthropist, is one of the world’s richest men, with a net worth estimated at $25 billion. He has been a major player in global finance and politics for decades, and his Open Society Foundations is one of the largest philanthropic organizations in the world.
In an interview with the Wall Street Journal, Soros said that he was confident that his son was ready to take over the family business. “Alexander has earned it,” Soros said. “He’s worked hard and he’s proven himself.”
Alexander Soros, 37, is a graduate of Yale University and Columbia Law School. He has worked at Soros Fund Management since 2009, and he has been involved in the Open Society Foundations since 2011.
Soros said that he will continue to be involved in the Open Society Foundations, but he will step down as chairman of the board. He said that he wants to focus on his philanthropy and on his family.
Soros’s decision to hand control of his empire to his son is a sign of the changing of the guard. Soros is one of the last of the great American financiers from the 20th century. He is a self-made man who made his fortune by betting against the British pound in 1992. He has been a controversial figure, but he has also been a major force for good in the world.
It remains to be seen how Alexander Soros will fare as the new head of the Soros empire. He has a lot to live up to, but he has the potential to be a great leader.